In March 2022, Eastern Real Estate and Taconic Capital Advisors partnered to acquire University Mall in South Burlington, VT. The 617,000-square-foot shopping destination is the largest in Vermont, as well as the most-visited center in the state, with an estimated 3.9 million annual shoppers. The property features an 85,500-square-foot JCPenney, an 86,000-square-foot Kohl’s, a 48,000-square-foot Hannaford Brothers grocery store, and a 60,000-square-foot Target – Target’s first and only store to open in Vermont. With over 50 local and national shops and restaurants, the property is 95 percent occupied and serves as a major retail hub for shoppers across the region, including Quebec.
Eastern and Taconic plan to reposition and re-energize the mall, which is located less than one mile from the University of Vermont and The University of Vermont Medical Center and features direct access to Interstate 89 and Williston Road – a major regional artery.