Two Anderson siblings are buying the city's Mounds Mall from the Florida-based company that has owned it for the past six
Bayview Financial vice president Mike Maddox said it made sense for the company to sell the shopping mall to Virgil E. Cook II and his sister, Natalie Campbell, because their family owns the land the mall is built on.
Terms of the deal, expected to close this week, were not announced.
Anderson Mayor Kris Ockomon said the city would work with the new owners in hopes of turning it into a vibrant shopping area.
Mounds Mall opened in 1965 as one of the first enclosed malls in Indiana. It was owned by the Simon Property Group until 2003, when it was sold to Bayview.
The 300,000-square-foot mall is anchored by Sears and has more than 30 tenants.