Oregon investment group buys struggling Tri-County mall
CINCINNATI (AP) - A Portland, Ore., investment group has bought a large mall in suburban Cincinnati for $45 million and plans to continue running it as a mall.
The Cincinnati Enquirer (http://cin.ci/15POP01) reports that American Pacific International Capital made the winning bid for Tri-County Mall in Springdale at a Hamilton County sheriff's auction this week. The group's president says he wants to bring the mall "back to its old glory.".
Group President Wilson Chen says American Pacific plans to invest in improving the 750,000-square-foot mall but couldn't say how much or what would be done.
Springdale's economic development director says the city is glad to see Tri-County remain a mall.
Tri-County's occupancy had fallen in recent years. It and other enclosed malls have struggled while lifestyle shopping centers have grown in popularity.
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