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| http://pittsburgh.cbslocal.com/2017/01/18/pittsburgh-mills-mall-sch...
" A Pittsburgh-area mall that was foreclosed on after its owners failed to repay $143 million was auctioned off Wednesday for $100.
The sprawling Galleria at Pittsburgh Mills mall has been in trouble ever since it opened its doors 11 years ago. After defaulting on that $143 million loan, the bankruptcy court put it up for auction.
Wells Fargo Bank was owed the money from a 2006 loan and submitted the winning bid for the 1.1 million-square-foot mall. The bank was acting as trustee for MSCI 2007 HQ11, the trust that bought the mall in suburban Frazer Township."
A sign of the times? Only 11 years old and failing.
Lack of customers. | |
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Mall sells for $100
