Promenade Mall in Lewiston, ME sold for $4 million

Started by retailisking, September 29, 2016, 09:39:33 PM

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retailisking

Infamous dead mall that was once anchored by Bradlees and Service Merchandise has a new, ambitious owner.
http://www.sunjournal.com/news/business/2016/09/29/promenade-mall-sold-lewiston-broker-teases-turnaround-plan/2003015

danfifepsu

I went by there last month and it was mostly vacant. how come both Lewiston plazas are mostly vacant?

retailisking

Quote from: danfifepsu on September 29, 2016, 11:17:18 PM
I went by there last month and it was mostly vacant. how come both Lewiston plazas are mostly vacant?

Auburn started dominating chain retail in the 1980s, and it has snowballed since then. At this point Auburn pretty much owns chain retail in the L-A area. Everyone wants to be there, and those few retailers who attempt to gain a foothold in Lewiston have largely failed. Downtown Lewiston is showing signs of recovery, but only for local entrepreneurs, not chain retail.