Gwinnett Place Mall is getting new owners. For real, this time.
Sources tell us the ailing
Gwinnett County mall—which has been in special servicing—is scheduled to close
this week with an undisclosed buyer. The price is unclear as of press time. But according to a recent Trepp report, "Although there is current bidding activity, the pricing is below expectations
and values previously reported." This could be the end of a long saga for Gwinnett Place. In 2011, the 567k SF
Duluth mall defaulted on its $115M CMBS loan
after Simon Property disposed of it. And last year, it was packaged for sale
with five other retail properties across the country through Eastdil on behalf of special servicer C-III. (We were gonna start calling it The Runaway Bride mall.)