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Berkeley Buying 750,000-SF Mall

WORCESTER, MA-Berkeley Investments' is the winning bid for the Worcester Common Fashion Outlets. The firm plans to redevelop the site into a mixed-use project that would include residential condominiums, retail space, medical offices and senior housing.

By Naomi Grossman | Updated on October 03, 2004

WORCESTER, MA-Berkeley Investments has emerged as the buyer of the Worcester Common Fashion Outlets. The mall is owned by Cigna Investment Inc. in a joint venture reportedly with New England Development and SR Weiner & Associates Inc.

Young Park, president of Berkeley Investments, tells GlobeSt.com that his firm’s bid for the property has just been designated by Hartford, CT-based Cigna as the winning bid. The mall owners did not set an asking price and Park says that financial details of the deal are not being disclosed now. According to published reports, the agreement reached was between $30 million and $40 million.

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