Village Mall Auction: Two of Three Entities Sold, Parties Not Released; Major Portion Bid Did Not Reach Reserve Amount

What we all call “the mall” was auctioned off in 3 parts over the last 3 days:

Part 1 (referred to as The Strip): County Market, Pet Supplies Plus, Dunham’s, & Ross. This had a minimum starting bid of $1.75 Million and an unknown reserve amount (undisclosed to bidders).  Although there was a final bid of $3.75 Million, the reserve amount wasn’t met, so it did not sell (yet).  With taxes & fees, the price would’ve been close to $4 Million.

Part 2 (referred to as the Interior Mall): former Burlington, Carson’s, Movie Theater, Food Court, restrooms, other closed stores, the DACC Barber College, & currently operating stores: JoAnn Fabrics, Bath & Body Works, Hibbett’s, CitiTrends, & Jodi’s Dance Studio (excluding the Slumberland & Shoe Sensation building owned by Slumberland).  There was a minimum bid of $1 & it was an absolute sale meaning that it would/should be sold no matter the amount of the final bid.  I didn’t get the exact selling amount, but it was ~$500K, and with taxes & fees, the final price would’ve been ~$600K.

Part 3 (referred to as the Outlot): most of the parking lot to the west of Aspen Dental & east of the first row by the old Sears Automotive. There was also a minimum bid of $1 & it was also an absolute sale meaning that it would/should be sold no matter the amount of the final bid. I didn’t get the exact selling amount, but it was ~$43K, and with taxes & fees, the final price would’ve been ~$60K.

The City was an unsuccessful bidder.  The total price for the sale of the Village Mall is ~$4.5 Million including everything.

Aspen Dental, Buffalo Wild Wings, & McDonald’s are all independently owned & were not part of the sale.