Colonie Center listed for sale

Local

The Capital Region’s second largest mall is looking for a buyer.

According to a source familiar with the owners, Colonie Center is listed for sale by the Buyout Firm Kohlberg Kravis Roberts (KKR) and Company.

The firm, along with Colonie Pacific, bought the 1.3 million square foot mall nearly six years ago for $106 million. 

Currently the mall has been assessed at just $65 million.

In a statement, Colonie Center’s management says the sale “encourages a fresh approach to the master planning of Colonie Center. We look forward to future opportunities.”

NEWS10 ABC reached out to KKR, the firm that owns the mall, but have not heard back.

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