Swansea Mall officially sold to developer

For the first time, hearing the phrase “the Swansea Mall has closed” is actually great news!

The Swansea Mall’s “prospective buyers” are now the new owners and have “closed” on the transaction! Hours after the Town of Swansea voted to create a Redevelopment Authority, the week-long closing process began, which was completed over the holiday weekend.

Swansea Town Selectman Christopher Carreiro issued the following statement:

“I look forward to the public-private partnership with the newly formed Swansea Redevelopment Authority and the Anagnost Companies of New Hampshire, who purchased the Swansea Mall property for $4.6 million. The new owners have tremendous vision and a team of experienced professionals that have repositioned similarly distressed properties.”

“The economics of the retail industry have significantly changed since the construction of the Swansea Mall and 600,000+ square feet of retail space is no longer sustainable. Therefore, the new owners must take a multifaceted approach to maximize the use of the property by incorporating a variety of uses.”

“The fluid redevelopment concept includes, but not limited to, a large supermarket, retail establishments, restaurants, entertainment, a Swansea Municipal Complex, medical facilities, professional offices, market rate housing, and a national state of the art self storage provider.”

“I am hopeful that as we advance our efforts to reduce or eliminate, through eminent domain, Walmart’s oppressive and devastating restrictions on the former Swansea Mall property, that Walmart will participate as a partner, rather than an adversary, in the mutually beneficial redevelopment of the Swansea Mall property.”

“There are great new beginnings ahead for Swansea!”