By Geena Monahan–For the North Star Reporter
The Emerald Square Mall announced via its Facebook page on Friday, Aug. 1, that the site had been sold to an international real estate investment company, Summit Properties USA.
“Emerald Square Mall is under new ownership – and we’re all about bringing back the fun, the local love, and the kind of shopping experience that makes you want to stay awhile,” reads the statement. “Let’s make something great together. Reach the summit.”
Kohan Retail Investment Group purchased the mall from Simon Property Group in 2022, and had been working with Summit Properties to manage the property over the past three years. The mall faced numerous challenges while under the ownership of the Kohan Group, such as eight escaped bulls during a 2024 rodeo in the mall’s parking lot that made national news, and a closure in February of this year due to leaking ceilings.
Two weeks prior to the announcement of the sale, state Rep. Adam Scanlon, D-Mansfield, went before the Joint Committee on Revenue to speak as the lead sponsor of HB.3240, An Act Relative to Shopping Malls.
This bill, filed in January by Scanlon, would permit municipalities to impose a tax on malls with less than 67% occupancy rate as a way to incentivize owners to either fill the retail spaces or convert some portion of the property to another use, such as offices or residential. However, it is unclear if the introduction of the bill played any role in the sale of the mall.
“This has been evident with the Emerald Square Mall in North Attleborough in my district—a former vibrant shopping hub that has encountered a steady decline in occupancy and closures of key retailers, contributing to the rise in vacancies over recent years to at times nearly 65%,” wrote Scanlon in his testimony given on July 15. “As it struggles to adapt to the current economic realities, the local community continues to experience the repercussions of its underutilized spaces and untapped redevelopment potential.”
According to Town Manager Michael Borg in a statement sent to the North Star Reporter on Aug. 7, the sale of the mall is not something he has any further information on at this time.
“The Town of North Attleborough has been working with Summit Properties on all matters pertaining to the Emerald Square Mall since Kohan Properties purchased it. If there have been any changes in ownership, the town, including our Building and Assessors’ Departments, has not been notified. As such, this is news to us,” said Borg.
On its website, Summit Properties lists 27 malls owned across America, including the Emerald Square Mall. Kohan Retail Investment Group no longer includes the Emerald Square Mall on its website’s portfolio page.
Representatives from Summit Properties, the Kohan Group and Image Marketing were contacted for more information on the sale but have not responded at this time.