Taunton’s Gallaria Mall Sold
The Silver City Galleria in Taunton is under new ownership, a sale that tenants and city officials hope breathes new life into the 21-year-old shopping center.
Dallas-based MGH Herring Group closed on the $21 million sale last week. President and C E O Gar Herring says the purchase deal involved two other entities. MGH Herring will manage the mall which has has 90 tenants but about 30 vacancies.
Taunton Mayor Thomas Hoye Jr. says he's 'excited' and hopes new restaurants move into the shopping center. He adds the annual tax revenue from the mall has dropped from $4.5 million to as low as $1.6 million because of vacancies.