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Hudson Valley Mall to be sold to Georgia company

Dec 13, 2016 12:03 am

William J. Kemble is reporting in the Daily Freeman the Hudson Valley Mall, located in the town of Ulster, appears likely to be sold to Hull Property Group of Augusta, Georgia. The mall's owner, PCK Development of Liverpool, Onondaga County, is expected to finalize the deal in January. “I understand there’s a purchase agreement signed.... Until [the sale] closes, it’s not really sold,” Terry Parisian, the mall’s general manager, said Mon., Dec. 12. According to Hull’s website, the company currently owns 28 shopping malls, all located in the eastern U.S. The Hudson Valley Mall lost its anchor tenants, J.C. Penney and Macy's, during the last 18 months, and those spaces remain empty. And the mall has been in receivership since June due to a debt default of nearly $50 million. Town of Ulster Supervisor James Quigley confirmed Monday that he has spoken with Hull Property owner James Hull and there is a written agreement to purchase the mall. Quigley said the new owner plans to make unspecified improvements to the mall, but there was no discussion of tenants or of what was going to be restored. Read the full story in the Daily Freeman.