Former Boston Store building at Racine’s Regency Mall sold

The recently closed Boston Store building at Racine’s Regency Mall has been sold to the Georgia firm that is redeveloping the mall.

The building was sold by Bon Ton Stores Realty Two LLC, an affiliate of Chicago-based Tiger Capital Group LLC, to Racine Mall LLC, an affiliate of Hull Property Group, for $900,000, according to state real estate records posted Friday.

The acquisition of the Boston Store is part of Hull’s plans to redevelop Regency Mall, said Coles Hull Doyle, the Augusta, Georgia-based firm’s marketing director. But there is no specific development plan yet, she said.

Regency Mall, at Durand Avenue and South Green Bay Road, was sold in December 2016 to Hull for $9.6 million by affiliates of Chattanooga, Tennessee-based CBL & Associates Properties Inc.

The Boston Store building, however, was owned separately by Bon-Ton Stores Inc., which operated Boston Store and other regional department store chains before its bankruptcy liquidation this summer by Tiger Capital.

Hull focuses on reviving financially troubled shopping malls.

Regency Mall had lost three anchor stores — Sears, J.C. Penney and hhgregg — in the two years before it was sold to Hull Property.

Hull is renovating Regency Mall, according to the firm’s website.

The mall’s larger tenants include Bob’s Discount Furniture, Burlington, Ross Dress For Less and Target.

Three other Milwaukee-area former Boston Store buildings — at Southridge Mall, Brookfield Square and Mayfair — remain in play as possible locations for the Dillard’s department store chain, sources have told the Journal Sentinel.

Meanwhile, a Von Maur department store chain executive told the Journal Sentinel that her company is looking at other closed stores as potential expansion sites.