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GK Development Inc., a Barrington, Ill.-based real estate acquisition and development company has purchased the Greeley Mall from the Macerich Co. of Santa Monica, Calif.

The company declined to disclose a purchase price.

GK Development plans to retain the Macerich employees and said it will explore options for adding additional amenities and tenants. The purchase of the 482,000-square-foot center Highway 34 and 23rd Avenue marks the company’s entrance into the Colorado market.

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