Tuesday, January 24, 2017

Schuylkill Mall Auctioned Off for $2.1 Million

The auction of the Schuylkill Mall was held Tuesday morning.

Tenants of the Schuylkill Mall received an email from William G. Schwab & Associates later Tuesday stating that the winning bidder was Northpoint Development LLC, out of Missouri, for $2.1 million and the assumption of the leases for A&A Auto Parts, Total Renal Care, Big Lots, McDonald's, Holiday Inn Express and Cracker Barrel. 

Northpoint will also maintain Bon Ton’s rights under their ground lease agreement. They will allow rejection of all leases by the trustee pursuant to the bankruptcy code.

This bid is subject to a hearing and approval by the United States Bankruptcy Court For the Middle District of Pennsylvania, which is scheduled a hearing tomorrow. If approved by the court, closing is to take place by February 24.

No details have been provided by Northpoint on what the plan is for the mall in the future.