Bon-Ton buys Southridge Boston Store property for $3.9 million

Organizations:

The Bon-Ton Department Stores Inc., which has corporate headquarters offices in Milwaukee and York, Pa., recently purchased the Boston Store property at Southridge Mall in Greendale from Anthony Palermo for $3.925 million, according to state records.

“We just exercised an option to purchase that we had for that store,” said Bon-Ton spokeswoman Mary Kerr. “We felt it would be financially optimal to own this location.”

Bon-Ton completed a substantial remodeling of the Southridge Boston Store in 2012. The project was done at the same time that Indianapolis-based Simon Property Group Inc. did a major remodeling of the entire mall and added Macy’s to the former Younkers store space.

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Bon-Ton operates 270 department stores in 25 states under several brand names, including Boston Store.

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