New owner will change Akron’s Chapel Hill Shopping mall into a enterprise park

The new owner of Chapel Hill Mall plans to transform the struggling mall in Akron into a business park.

Chapel Hill Shopping mall will be transformed into a enterprise park by its new owner.

Industrial Commercial Houses accomplished its purchase of the foreclosed-on Akron shopping mall late Tuesday afternoon, according to the broker for the sale. The profits selling price was not right away obtainable.

Much more:Prior to business park advancement offer, Chapel Hill Shopping mall celebrated grand opening in 1967

Extra:Images: Chapel Hill Shopping mall

ICP owner Chris Semarjian said the mall will be converted into a enterprise park. 

The redevelopment could require turning the 829,000-sq. foot shopping mall into a multi-use campus as very well as ground-up development of new industrial properties, Solon-dependent ICP mentioned in a information launch. ICP specializes in getting industrial and industrial homes and discovering new takes advantage of for them. Chapel Hill Mall is the company’s seventh acquisition this 12 months.