Business & Tech
Gwinnett Place Mall Reportedly Has New Owner
The facility in the Duluth area has struggled in recent years.
The troubled Gwinnett Place Mall may be under new ownership.
According to the Atlanta Business Chronicle, the retail facility in unincorporated Duluth near I-85 has been bought by Moonbeam Capital Investments LLC, which has another mall in the metro area.
Moonbeam is a private equity firm based in Las Vegas. Among its other properies is the Candler-McAfee shopping plaza in DeKalb County, according to its website.
In 2012, the mall was foreclosed on for $39 million — 66 percent less than the original value of the loan, the Chronicle reported.
The latest blow to the mall, which opened in the 1980s, was when anchor tenant Belk's announced it was closing.
The Mall of Georgia in Buford, which is operated by Simon Property Group, has drawn some of Gwinnett Place's business and retail attention.
-- Do you still shop at Gwinnett Place Mall? Tell us in the comments below.
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