Wilmorite acquires Mall at Greece Ridge anchor property

Kevin Oklobzija//June 28, 2023//

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Wilmorite Management Group, LLC has purchased one of the anchor properties at The Mall at Greece Ridge.

SGRC, LLC, a subsidiary of Wilmorite, submitted the winning bid of $2,008,500 in the auction of the former Sears building at 317 Greece Ridge Center Dr. The deed was filed Monday with the Monroe County Clerk’s office.

Wilmorite is the owner and developer of The Mall at Greece Ridge. As an anchor tenant, Sears owned the 123,943-square-foot property that runs along the west side (the Long Pond Road side) of the mall. The financially distressed retailer shuttered the store in July of 2018 and the space has sat vacant.

While just over a dozen Sears stores are still open across the country, the vast majority have closed and the buildings are being sold at auction. Seritage SRC Finance LLC, a spinoff of Sears created in 2015, is liquidating the portfolio in rapid fashion.

Wilmorite opted to bid on the property in order to maintain oversight on tenants and how the building is used, a spokesperson said.

“We will now start to work on leasing the property but do not have set plans for it yet,” said Janice Sherman, chief marketing officer for Wilmorite.

The building was built in 1972 and renovated in 1997.

The former Sears stores at Wilmorite’s other two Rochester-area malls, Eastview Mall in Victor and The Marketplace Mall in Henrietta, have been sold and repurposed.

Dick’s Sporting Goods created the first Dick’s House of Sport at Eastview while the University of Rochester bought the old Sears store at Marketplace and turned it into the UR Medicine Orthopaedics & Physical Performance Center.

Another former Sears building, at the old Medley Centre mall in Irondequoit, was part of PathStone Corp.’s creation of Skyview on the Ridge, a senior apartment community.

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