Two Maine shopping malls, one in Bangor and the other in Presque Isle, are up for auction.
Irvine, California-based auction house Ten-X is advertising separate auctions for the Bangor Mall and Aroostook Centre Mall on its website.
The auction for the Bangor Mall is scheduled for Feb. 25 to Feb. 27 with a minimum bid price of $6.5 million. The mall is listed as having about 531,000 square feet of rentable space with 72 percent of it currently occupied by retailers.
Fewer details are available for the Aroostook Centre Mall, with no auction date or minimum bid price listed. Built in 1993, the mall is anchored by Lowe’s with an additional 410,000 square feet of rentable mall space. No occupancy rate is provided.
Both malls are in the hands of “special servicers,” debt-collection agencies tasked with recouping the investments of bondholders who purchased shares in commercial mortgage-backed securities.
J. Craig Anderson can be contacted at 791-6390 or at:
Twitter: jcraiganderson
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