September 24th, 2013ShoppingTown Mall’s New Owner: ‘This is a Long-Term Play’
Dewitt, NY – The new owner of ShoppingTown Mall plans to keep the property’s focus squarely on retail.
“We want to stay a mall; a retail destination,” said Steven Maksin, founder and CEO of Moonbeam Capital Investments, which bought ShoppingTown this month. “We’re not building multi-family here.”
Maksin and other members of Moonbeam’s management team are in town this week for meetings with mall staff and tenants and local officials. Moonbeam, a Las Vegas-based private equity fund, won an online auction for ShoppingTown last month with a bid of $13.65 million.
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