Fingerlakes Mall has new owners.
The purchase price was $3.6 million. Vachi Fingerlakes, LLC purchased the mall from Fingerlakes Mall Acquisition, LLC. Sutton will serve as the mall’s property management team.
Vachi Fingerlake’s first action was to negotiate an extension of the current Bass Pro Shops lease of 85,500 square feet to ensure this anchor store remains in the Finger Lakes region through at least 2037. Securing this 15-year lease is an encouraging first step to ensure that the economic activity generated by Bass Pro Shops continues to benefit the region.
Fingerlakes Mall is a 400,000 square foot one-level specialty retail shopping center anchored by Bass Pro Shops and family-owned Track Cinema. Ideally situated on Route 5 midway between Syracuse and Rochester, Fingerlakes Mall is easily accessible from the NYS Thruway and NYS 690.
Currently, multi-stage redevelopment plans are being considered to further revitalize the mall and the community it serves. According to Sutton Real Estate Company, a total of 55.31 acres of development potential exist.
No further plans have been released at this time.