According to records in the Kitsap County treasurer’s office, the South Kitsap Mall, which was recently sold to a seven-member corporation formed specifically to own the retail center, fetched $6.445 million. Managing partners in the corporation, appropriately named South Kitsap Mall Inc., are Larry and Grace Li, of Mercer Island. The corporation purchased the landmark Port Orchard retail center in late January from its owner Glennys Gehring. She and her late husband Buck, built the mall in 1979.
   Jim Freeman of Coldwell Banker Park Shore Real Estate handled the transaction.
   The sale didn’t include the A&W Drive In, which hosts the Wednesday evening Cruise-In during the summer months. The restaurant is owned and operated by Gehring’s son Rick, who has also managed the mall for a number of years.
   Since purchasing the mall, they have announced plans to rename it Town Square Port Orchard, and Grace Li has plans to open a gallery and antique store similar to Pacific Galleries on Lander Street in Seattle, which the couple also owns. Glennys Gehring says she also will continue to operate the three businesses she still owns in the mall — Armchair Books, Elegant Home and Guthrie’s Women’s Apparel.
   The Lis have also stated that they will continue to allow Port Orchard Party, South Kitsap’s largest community fundraising event, to be held there. The couple attended last year’s event while negotiations for the sale were in progress.
   Larry Li said he is considering several renovation options that may include external entrances to some stores, perhaps adding retail space to the front and possibly opening the interior of the mall to view.
   The Lis, who were born in Taiwan and came to the United States in the early 1970s, have stated that they are seriously considering moving to Port Orchard.