Cranberry Mall sale talks still ongoing; meeting set next week

Negotiations for the sale of the Cranberry Mall are still continuing, according to the broker handling the sale.

Philip LaMay, a Pittsburgh-based real estate broker for Texas-based Keller Williams Realty, told the newspaper on Friday that the sale was “kind of in the same boat” as it was more than two months ago in mid-March.

At that time, LaMay said both sides were still negotiating final terms as there were “a lot of moving pieces.”

On Friday, LaMay said the attorneys for both sides are still “working out details” at the moment.

“Unfortunately, that means I cannot truly be able to project when this will be finalized,” LaMay said. “It’s been a difficult sale, and that is about all I am able to state.”

Hopefully, he added, the sale will be finalized by summer, and he added that he will have a call with all the parties involved on Wednesday.

In October, California-based Oakwood Management Group, which owns the mall, listed it for auction on Ten-X, an online marketplace for commercial real estate.

Toronto-based Dundas Real Estate, which has a branch in Daytona Beach, Florida, was the top bidder at the auction, which was open from Oct. 31 through Nov. 3, 2022.

The fate of the mall has been the subject of much discussion in the community in recent months, particularly after the departure this year of two of the mall anchors.

The Movies At Cranberry, which had run the mall movie theater since taking over from Carmike Cinemas in 2007, closed its doors Jan. 15.

And Joann Fabric, which had been a community hub for local crafters and artists, had its final day of sales last Sunday on Mother’s Day.