The sale of the Cranberry Mall hasn’t been finalized, but it is still in progress, according to the broker handling the sale.
Philip LaMay, a Pittsburgh-based broker for Texas-based Keller Williams Realty, told the newspaper on Thursday that “there is not an update” on the status of the sale because “both sides are still negotiating final terms.”
“It’s been a little more complicated than expected,” he said.
He added that he couldn’t predict when the sale would be finalized because “there are a lot of moving pieces.”
LaMay had said in January the mall was still in escrow and that attorneys were working out details.
In October, California-based Oakwood Management Group, which owns the mall, listed it for auction on Ten-X, a website for selling and purchasing commercial real estate.
The mall has been the subject of much discussion in recent months at township meetings, particularly the township’s economic development authority.
Several newspaper stories have also attempted to take a look at what’s in store at the mall, particularly if and when the new ownership group takes over.
Two of the mall anchors also announced their departure in recent months.
The Movies At Cranberry, which took over the mall movie theater in 2007 from Carmike Cinemas that had been there since the 1980s, closed its doors Jan. 15.
And Joann Fabric, which had been a community hub for local crafters and artists, has announced it plans to close the doors of the mall outlet May 14, with liquidation sales starting after March 26.
