JUNEAU, Alaska — A California-based developer has offered $12.5 million to buy the Nugget Mall in Juneau’s Mendenhall Valley.
KTOO Public Media of Juneau reported Tuesday that Aventine Development Corporation submitted a bid to purchase the 44-year-old mall that’s struggled with tenant vacancies and maintenance problems in recent years.
It’s up to a judge in Seattle to approve the sale of the mall, which includes Sportsman’s Warehouse, OfficeMax and JOANN Fabrics. That’s because the mall is ran by a firm appointed by the court to manage the property on behalf of heirs of the original owners.
Resource Transition Consultants — the mall’s receiver since late 2015 — said in court filings that five offers between $10 million and $16 million were received over the last three years.
Efforts to reach Aventine Development Corporation were unsuccessful.
Information from: KTOO-FM, http://www.ktoo.org