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Report: Newton's Atrium Mall to be Sold, Will be Medical Offices

The property is reportedly going to be sold for $50 million.

The Boston Herald reports this morning that the ailing Atrium Mall is under agreement to be sold for $50 million and will eventually be turned into medical offices. 

Sourcing a person "close to the deal" the Herald says Needham-based Bullfinch Cos. is buying the property and the deal should close later this month.

For more information, check out the story in the Boston Herald

The Simon-owned , which opened in 1989, has recently dropped to roughly 20 percent capacity, with ten retail stores left in the mall and just two restaurants. Earlier this month  

Since January, a slew of stores have exited the property . Some stores, including Ross-Simons, have left the Atrium for another Simon-owned property across the street, the . 

While the Atrium has continued to suffer, nearby retail properties are working on building out; construction at the is ongoing and developers at the Chestnut Hill Shopping center , which will house a theatre and new fitness center.

Karla Vallance June 07, 2012 at 01:09 PM
I'm just hoping The Cheesecake Factory stays. After all, all those medical types need to eat lunch, right?

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