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Gwinnett County agrees to purchase Gwinnett Place Mall property for $23 million

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Gwinnett County commissioners on Tuesday agreed to purchase Gwinnett Place Mall. The $23 million deal is for 39 acres of the property.

Channel 2 Gwinnett County Bureau Chief Tony Thomas is told the purchase is for the mall itself and what used to be a Belk store.

“The purchase is part of a strategic effort by Gwinnett’s government to create new opportunities for catalytic development in the area in partnership with the Gwinnett Place CID and local property owners,” Gwinnett County said in a news release.  Other anchor stores are owned by the business themselves and are not included in sale.

“This will be a tremendous asset for Gwinnett,” said Charlotte Nash, chairman of the Gwinnett County Board of Commissioners. “We’ve been working for a number of years to purchase this property that is central to our community’s geography and its recent history. There’s incredible opportunity here, and I believe that with careful planning and involvement from the community we can create a redevelopment that will be a place of pride for every Gwinnett resident.”

Gwinnett Place Mall opened in the 1984 and was a booming business for decades. But the mall has struggled over the last few years with several ownership changes.

Las Vegas-based Moonbeam Capital Partners bought Gwinnett Place in late 2013 and planned to redevelop the area with apartments and office space.

But none of those plans moved forward and the group put the property up for sale earlier this year.

“In recent years, Gwinnett has invested in several strategic economic development projects, including the master-planned Rowen community, WaterTower, the OFS site, the Stone Mountain Tennis Center and more,” said Nick Masino, president of the Gwinnett County Chamber of Commerce. “I know I speak for all Gwinnett businesses when I say that we are thrilled that the revitalization of the Gwinnett Place Mall can finally begin!”

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