Hudson Valley Mall May Reportedly Be Sold to Out of State Company

The loss of two anchor tenants and a big pile of debt could lead owners of the Hudson Valley Mall to sell to an out of state company early in 2017. The Daily Freeman reports owner PCK Development is expected to complete a deal with Hull Property Group sometime in January.

There is optimism in the proposed sale, as potential new owners Hull Property Group have a strong profile with similar projects. According to their website, they own just shy of 30 properties mainly in the south, although they do own Fairgrounds Square Mall in Reading, Pennsylvania. Their corporate headquarters are located in Augusta, Georgia.

Current owners PCK Development defaulted on nearly $50 million in loans this past summer. The mall was placed in receivership and was put up for sale, a purchase price has not been disclosed at this time.

The mall was built in 1981 and has expanded several times over the years. The new owners could potentially invest as much as $10 million in needed upgrades and improvements.