Cornwall Square sold for $8.4M

In this sketch from Choose Cornwall, an artist's rendering of what the future residential development will look like at the Cornwall Square location. The building has been sold for $8.4 million. (Choose Cornwall via Newswatch Group)

CORNWALL – The owner of Cornwall Square has sold the mall to an unnamed buyer.

Partners Real Estate Investment Trust announced this morning (Wednesday) that it is selling the property at 1 Water Street East for $8.4 million.

The sale on the circa-1978 building has a number of standard conditions, but there are no financing or due diligence conditions attached to the sale, Partners REIT said.

The deal is scheduled to close on or before Dec. 10.

Members of the city’s economic development department showcased the future of the Cornwall Square location during the Canadian Convention of the International Council of Shopping Centers earlier this month.

Residential units are planned for the area that was once was the Sears section of the mall.

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