- Associated Press - Tuesday, April 29, 2014

SCRANTON, Pa. (AP) - A northeastern Pennsylvania shopping mall goes on the auction block in June.

The (Scranton) Times-Tribune (http://bit.ly/PNLf1P ) reports that the Steamtown Mall will head to a sheriff’s sale on June 10. A list released Monday by the Lackawanna County sheriff’s office indicates that the asking price will be $43.7 million.

Al Boscov, chairman and chief executive of Boscov’s department store, the mall’s sole anchor tenant after Bon-Ton closed in January, has said he is interested in bidding. Attorney Scott Esterbrook said Boscov is still trying to put together financing for the acquisition.

The mall defaulted on a mortgage payment last summer and entered foreclosure March 7. Boscov said at the time that mall occupancy was about 65 percent, but the complex has lost three tenants since then.

___

Information from: The Times-Tribune, http://thetimes-tribune.com/

Copyright © 2016 The Washington Times, LLC.

blog comments powered by Disqus

 

Click to Read More

Click to Hide