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The Ames Fan Club

Malls and Shopping Centers => Current Shopping Malls and Shopping Centers => Topic started by: retailisking on November 01, 2017, 03:10:49 AM

Title: Aroostook Centre Mall (Presque Isle, ME) auctioned for $4 million
Post by: retailisking on November 01, 2017, 03:10:49 AM
The bank (Wells Fargo) was the only bidder; the mall sold for a fraction of its assessed value
(https://bdn-ss-tc.s3.amazonaws.com/uploads/2017/10/IMG_7355_21571040-640x400.jpg)
http://thecounty.me/2017/10/31/news/with-no-other-bidders-bank-takes-over-aroostook-centre-mall/
Title: Re: Aroostook Centre Mall (Presque Isle, ME) auctioned for $4 million
Post by: JJBers on November 01, 2017, 07:34:08 AM
Yeah this mall is on the death spiral. RIP
Title: Re: Aroostook Centre Mall (Presque Isle, ME) auctioned for $4 million
Post by: danfifepsu on November 01, 2017, 07:38:30 AM
Quote from: JJBers on November 01, 2017, 07:34:08 AM
Yeah this mall is on the death spiral. RIP


whatll happen to it and why did it die?
Title: Re: Aroostook Centre Mall (Presque Isle, ME) auctioned for $4 million
Post by: JJBers on November 01, 2017, 07:42:54 AM
Quote from: danfifepsu on November 01, 2017, 07:38:30 AM
Quote from: JJBers on November 01, 2017, 07:34:08 AM
Yeah this mall is on the death spiral. RIP


whatll happen to it and why did it die?
According to the Wikipedia article that I just recently updated:
QuoteShortly after its opening, the U.S. government announced the closing of nearby Loring Air Force Base, the region's largest employer.
Basically the jobs disappeared, and the mall fell off shortly afterwards.
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