Falmouth Mall Sells For Nearly $59 Million
The Falmouth Mall was sold at the end of April for $58,750,000 to TA Realty Group, a nationwide real estate investment group headquartered in Boston.
The previous owner was the Wilder Companies, doing business as OCW Retail.
Located at 137 Teaticket Highway, the Falmouth Mall is currently home to Wal-Mart, T.J. Maxx, Michael’s, Home Goods and Shaw's.
The property was last sold in May 2007. Prior to that, it had been owned by Thomas J. Flatley of The Flatley Company. It was the site of Bradlees, a popular department store that opened at the Falmouth Mall in 1983. Back then, rumors about Wal-Mart loomed like a threat to local businesses and many residents were reluctant to allow the shopping giant to move into their small town. But less than two decades later in 2001, Bradlees had declared bankruptcy and closed its doors. The leases it held were awarded to Wal-Mart, which officially opened its doors in August 2002.
It is unclear what will happen to the property now that it has been sold. Representatives of TA Realty did not respond to requests for comment.