Philadelphia developer Bart Blatstein says he's buying Pier Shops at Caesars in Atlantic City

ATLANTIC CITY, N.J. – Philadelphia developer Bart Blatstein says he plans to buy the Pier Shops at Caesars in Atlantic City.

Blatstein tells the Press of Atlantic City (http://bit.ly/1v0TGZd) he has an agreement to buy the high-end shopping center along the Atlantic Ocean. He would not disclose the price.

The 300,000-square-foot facility landed in financial trouble shortly after opening in 2006 and was sold at a foreclosure auction five years later. An investment group that includes U.S. National Bank Association owns the Pier Shops.

The four-level shopping center was designed to put new glitz and glamour into Atlantic City, but its shops opened at the height of the market, just before the economic downturn.

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Information from: The Press of Atlantic City (N.J.), http://www.pressofatlanticcity.com