BURLINGTON – Cascade Mall, an adjacent strip mall and buildings that house three restaurants have been sold to a California-based real estate company for $25 million, according to data from the Skagit County Assessor’s Office.
The sale was completed Wednesday, with Macerich selling Cascade Mall, the strip mall, the three buildings that house restaurants and a mall in California to Merlone Geier Partners for a combined $170 million, according to a Macerich news release on prnewswire.com.
Officials with Merlone Geier Partners, Cascade Mall and Macerich could not be reached for comment Monday. The Cascade Mall website, which usually lists a directory of its businesses, was down as of 4 p.m.
In September, five people were shot and killed at the Macy’s store inside Cascade Mall. Suspect Arcan Cetin is awaiting trial while undergoing a competency evaluation.
Some mall stores reported few shoppers in the days following the shooting. But for Black Friday, some stores reported seeing about the same amount of foot traffic and sales compared to previous years.
Assessor’s Office data shows Cascade Mall and buildings that house Applebee’s, Red Robin and Johnny Carino’s were sold for $16 million, and the strip mall, called Cross Court Plaza, for $9 million.
Cascade Mall was built in 1989. The last time it changed ownership was in 1999 for $41 million, along with Cross Court Plaza for $7 million, according to Assessor’s Office data.
Wednesday’s sale did not include Target, which is connected to Cross Court Plaza, according Assessor’s Office data.
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