The Boston Herald reports this morning that the ailing Atrium Mall is under agreement to be sold for $50 million and will eventually be turned into medical offices.
Sourcing a person "close to the deal" the Herald says Needham-based Bullfinch Cos. is buying the property and the deal should close later this month.
For more information, check out the story in the Boston Herald.
The Simon-owned , which opened in 1989, has recently dropped to roughly 20 percent capacity, with ten retail stores left in the mall and just two restaurants. Earlier this month
Since January, a slew of stores have exited the property . Some stores, including Ross-Simons, have left the Atrium for another Simon-owned property across the street, the .
While the Atrium has continued to suffer, nearby retail properties are working on building out; construction at the is ongoing and developers at the Chestnut Hill Shopping center , which will house a theatre and new fitness center.