Struggling Belknap Mall sold for $4.2 million

BELMONT — The Belknap Mall, which has seen a succession of storefronts big and small go dark, has been sold, according to paperwork filed at the Belknap County Courthouse.

The Belknap County Register of Deeds recorded the transaction on Thursday of the property at 96 Daniel Webster Highway. Assessed the town of Belmont at $18.25 million, the 15.67-acre property went for less than a quarter of that figure – $4.25 million. The mall, which had been owned by The Wilder Companies since 2007, is now owned by Belknap Retail LLC, which is listed on the deed as the 95% owner, with a 5% share owned by Belknap Nassim LLC.

The NH Secretary of State’s records show a Great Neck, New York mailing address for Belknap Retail LLC, with the principal owner listed as Mehran Kohansieh. He did not immediately return a request for comment.

The mall, built in 1973, has suffered in recent years, as have most enclosed shopping centers across the country. In the past two years, five stores left or closed, including anchor stores such as Maurice’s and Peeble’s. CVS closed earlier this year, landing another blow to the mall and leaving behind another darkened storefront.

Wilder, which operates more than 30 properties up and down the East Coast, told the Daily Sun in February that they were considering an “everything is on the table” redevelopment of the property. Shelley Lord, vice president of marketing for Wilder, said, “There are a lot of pluses about that center: location off the highway, the views to the lake if you build up. There is definite potential. The Lakes Region is a smaller market, but it’s still a solid market,” Lord said. “There is a good story to tell about the center, it’s just not the malls of the ’80s and ’90s.”