‘Tired’ Massachusetts mall to go open-air
The first enclosed mall on Massachusetts South Shore will undergo a $40 million conversion to an open-air center under the ownership of a spun-off unit of Phillips Edison & Company.
The 732,000-sq.-ft. Hanover Mall in Pembroke Massachusetts — anchored by Macy’s, Sears, and Walmart — was purchased last fall by PECO Real Estate Partners, which operates under the name PREP. Built in 1971 and last renovated in 2004, the center has direct access to Route 3, the major thoroughfare joining towns south of Boston.