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Finally! Gwinnett Place Selling

WASHINGTON DC 09.14.2017

7TH ANNUAL FUTURE OF PRINCE GEORGE'S COUNTY

Exclusive Bisnow Cocktail Hour to Follow Panels!

Jane Cafritz -- Calvin Cafritz Enterprises
Steve Schwat -- Urban Investment Partners (UIP)
Angela Patel -- TripleStone
Finally! Gwinnett Place Selling

Gwinnett Place Mall is getting new owners. For real, this time.

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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.)