Waterford Mall's Sears Property Goes For $2.7 Million At Auction

WATERFORD, CT — The former Sears property at the Crystal Mall in Waterford received a high bid of $2.7 million at auction, according to The Day. Bidding on the 10.6-acre property closed Wednesday at noon.

The Commercial Real Estate Index lists the property as under contract. The property includes the 15,906-square-foot building that's the retailer's former home.

Previously, the Sears property sold for $4 million in an auction in May. However, the deal with an unnamed bidder fell through.

The Crystal Mall was sold at auction for $9 million to Namdar Realty Group in May. The company owns 289 retail properties, including the Enfield Square Mall and the Meriden Mall.

Located at 850 Hartford Turnpike, in Waterford, the Crystal Mall was built in 1984 with additional construction in 1987.

Now with an occupancy rate of less than 65 percent, the shopping mall was a busy mecca for a number of generations. The two-story, 535,494-square-foot building sits on 82 acres.

According to the May auction listing, the mall features an "anchor lineup including JCPenney (91,588 SF, owned), Christmas Tree Shops (subletting a portion of the former Bed Bath & Beyond space, 80,892 SF, owned), a former Macy’s (121,270 SF, non-owned, dark) and a Seritage-owned box (150,632 SF, non-owned, dark)..."

The Crystal Mall is the "only regional mall within a 50 mile radius," according to its website.

See related: Waterford's Crystal Mall Sold At Auction For $9 Million: Report