University Mall sold, shoppers and businesses unsure of what’s to come

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Vermont’s largest shopping mall has new owners.On Monday, Taconic Capital Advisers from New York and Eastern Real Estate from Massachusetts came together to acquire the 617,000-square-foot University Mall in South Burlington.A representative told NBC5 that there are no plans drawn up for the space. The local management in place will stay in their current roles.Local business owners and shoppers said they’re staying positive that real improvements will be made.”It used to be great,” Carrie Oliver, a Winooski resident, said. “You could drop off the teenagers at the arcade, find little rides or toys for the little guys to do and still get everybody what they need.”Carrie Oliver was shopping at University Mall on Monday for some sneakers for her daughter.”We can’t find what we need,” May Oliver said. “I know my friends always want to go hang out at the mall and I’m always like no there’s nothing really to do anymore.”Sam Desrochers, who owns a small watch repair shop inside the mall called “Time For A Change,” didn’t hear about the acquisition until the announcement was made.He said he has run his business inside this mall for 25 years and has seen many changes in that time. His hope for the future is that the new owners will prioritize small businesses. “I really don’t know much about this company or whoever bought the mall,” Desrochers said. “I’m hoping that they’re willing to give the local people a chance.”

Vermont’s largest shopping mall has new owners.

On Monday, Taconic Capital Advisers from New York and Eastern Real Estate from Massachusetts came together to acquire the 617,000-square-foot University Mall in South Burlington.

A representative told NBC5 that there are no plans drawn up for the space. The local management in place will stay in their current roles.

Local business owners and shoppers said they’re staying positive that real improvements will be made.

“It used to be great,” Carrie Oliver, a Winooski resident, said. “You could drop off the teenagers at the arcade, find little rides or toys for the little guys to do and still get everybody what they need.”

Carrie Oliver was shopping at University Mall on Monday for some sneakers for her daughter.

“We can’t find what we need,” May Oliver said. “I know my friends always want to go hang out at the mall and I’m always like no there’s nothing really to do anymore.”

Sam Desrochers, who owns a small watch repair shop inside the mall called “Time For A Change,” didn’t hear about the acquisition until the announcement was made.

He said he has run his business inside this mall for 25 years and has seen many changes in that time. His hope for the future is that the new owners will prioritize small businesses.

“I really don’t know much about this company or whoever bought the mall,” Desrochers said. “I’m hoping that they’re willing to give the local people a chance.”

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