Monday, April 02, 2007

Mall for sale?

According to the Syracuse Post-Standard, Robert Congel, the head of The Pyramid Companies, is considering selling his portfolio of malls and shopping centers except for Syracuse's own Carousel Center, which is the starting block of his Destiny USA dream/project. Pyramid's major local holding is the Walden Galleria.

Pyramid's complete portfolio can be reviewed here. They also own The Shops at West Seneca, which if you've been by that location, consists of a Tops grocery store, a K-Mart, and a wide expanse of fenced-off undeveloped land where the old Seneca Mall used to reside. It seems that Congel has put his properties up for sale before, in 1998, but removed them from the market when prices for shopping centers dropped.

(If you're not familiar with the Destiny USA project, go check it out. I've never been able to decide if it's "out there" in a good way or in an outlandish, "gimme a break" kind of way, but it's definitely "out there". The idea makes me imagine if they took a couple of city blocks from Coruscant and plunked it down on the west side of Syracuse.)

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