Why is the Burnsville mall closed?

Why is the Burnsville mall closed?

In August, the mall went into foreclosure; then-owner CBL Properties, a real estate investment trust, cited vacancies and rent reductions as the primary cause of the default.

What is happening with Burnsville Center?

Kohan bought most of Burnsville Center in a 2020 foreclosure auction for just under $18 million and is subdividing and selling off portions of the 47-acre mall site for future development.

What time does Burnsville mall open for walkers?

Details: 1178 Burnsville Center, Burnsville, burnsvillecenter.com. Early hours begin at 10 a.m. daily.

When did Burnsville Center open?

August 3, 1977Burnsville Center / Opened

Who bought the Burnsville Center?

Kohan Retail Investment Group
The deal with Kohan Retail Investment Group closed at the end of January. New York-based Kohan bought about half of the mall’s interior and exterior property through a foreclosure auction in fall 2020. Kohan paid about $17 million, a fraction of the $64.2 million owned.

Who owns the Burnsville mall?

Burnsville Center

Wikimedia | © OpenStreetMap
Location Burnsville, Minnesota
Opening date August 3, 1977
Developer Homart Development
Owner Kohan Retail Investment Group

What are the plans for the Burnsville mall?

The owner of Burnsville Center is moving forward with a plan to bring new life to the struggling mall. The plan is to sell off portions of the mall property for future development. It includes adding two new restaurants and possible future new housing around the mall. The mall itself would remain.

What are the plans for Burnsville Center?

How much did the Burnsville mall sell for?

Paul/Minneapolis Business Journal reported. Pacific Square Burnsville LLC paid $10.6 million for about 125,000 square feet of the mall, the Journal reported Feb. 4. The deal with Kohan Retail Investment Group closed at the end of January.

What year did the Burnsville Center open?

What county is Burnsville Minnesota in?

Dakota CountyBurnsville / County