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Zamias sold the mall to Gemini Real Estate Advisors for $57 million in 2008, but remained as management. Steve & Barry's had a small format store open for a short time at the mall in the late 2000s. Adar Johnstown Limited Liability Corporation purchased the property the mall is located on in 2014.
The downtown Pittsburgh office vacancy rate at the time was 20%, driving down the value of the building. In October 2008, the building was purchased by Mika Realty Group of Los Angeles for $6.5 million. Mika Realty, owned by Michael Kamen and Gerson Fox, purchased the building under the name 600 William Penn Partners LLC.
Sam Zell. Samuel Zell (born Shmuel Zielonka; September 28, 1941 – May 18, 2023) was an American billionaire businessman and philanthropist primarily engaged in real estate investment. Companies founded by or controlled by Zell include Equity Residential, Equity International, EQ Office, Covanta, Tribune Media, and Anixter .
The malls lender, Iowa Square Realty LLC, won it at sheriff's sale for $50,000 in July 2018. Sears Auto Center closed in October 2018. Court hearings occurred in December 2018 over Iowa Square Realty's ownership of the mall due to issues with maintenance, unpaid rent, and taxes.
Total equity. US$126 million (2020) Number of employees. 175 (2020) Website. preit .com. Footnotes / references. [1] PREIT (Pennsylvania Real Estate Investment Trust) is a privately held company that owns and develops shopping centers mostly in the Mid-Atlantic states .
Robert Alan Durst (April 12, 1943 – January 10, 2022) was an American real estate heir and convicted murderer. The eldest son of New York City real estate magnate Seymour Durst, he garnered attention as a suspect in the unsolved 1982 disappearance of his first wife, Kathleen McCormack; the 2000 murder of his longtime friend, Susan Berman; and the 2001 killing of his neighbor, Morris Black.
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