Buyers plan changes site hurt by vacancies
Worthington Square mall, whose empty storefronts have been a concern to city officials, appears to be headed for a makeover under new ownership. Local developer Tom Carter and Morris Capital Partners of Texas announced a plan yesterday to buy the mall. The seller is GE Equities, the lender that took over ownership in 2008 when the previous owner, Stanford University Endowment, defaulted on the loan. The property includes the 138,000 square-foot mall, a 19,000 square-foot office building and two smaller buildings. The sale is expected to be completed this year.
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