MONROEVILLE, Pa. — The world’s largest retailer is the buyer of the region’s largest shopping mall.
A spokesman for Walmart confirmed that it is the new owner of Monroeville Mall, the 1.2 million-square-foot shopping complex on 186 acres of land that has been a focal point of the East suburbs for more than 50 years.
“Walmart purchased the mall and looks forward to being part of the redevelopment of the property,” said Mark Rickel, director of corporate relations for Walmart. “It is too early in the process to discuss any specific plans.”
Walmart’s acknowledgment comes after previous owner CBL Properties announced on Friday afternoon that it sold the mall in a cash deal for $34 million to an undisclosed buyer followed by a Monday announcement that Dallas-based Cypress Equities would lead the redevelopment of the mall property, featuring a mix of retail and entertainment, restaurants, residential, hospitality, office and public spaces.
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