The owner of the Chambersburg Mall announced Tuesday that it has sold the mall for $8.8 million.
Pennsylvania Real Estate Investment Trust did not provide the name of the buyer in a news release.
Joseph F. Coradino, CEO of PREIT, said in the statement that Chambersburg Mall has been among its weakest performing properties.
The company said sales at the mall of $235 per square foot and non-anchor occupancy of 76.2% as of September 30, 2013 were well below the PREIT mall portfolio average of $381 per square foot and 90.3%, respectively.
The company said the sale marks another step in its continuing efforts to improve the quality of its portfolio through the sale of non-core assets.