Cressona Mall

Cressona Mall
Location Pottsville, Pennsylvania, United States
Address 1544 Route 61, Pottsville, PA[1]
Opening date 1976[2]
Management Metro Commercial[3]
Owner JPMCC 2005-CIBC13 Route 61 South Limited Partnership (Wells Fargo)[3][4]
No. of stores and services 21[3]
No. of anchor tenants 1[5]
Total retail floor area 282,211 sq ft[6]
Parking 300 spaces[2]
Website Cressona Mall

Cressona Mall is a shopping mall in Pottsville, Pennsylvania off Route 61 and Route 183.[1]

History

The Cressona Mall in 2007-2008 received exterior renovations.[2] Alvernia University opened a satellite campus in 2009, using former office and store space.[7][8][9] CVS Pharmacy moved out of the mall in October 2010.[10] Goodwill opened in February 2014, using the former CVS Pharmacy space.[11] In February 2015, the primary sprinkler water pipe broke during cold weather.[12]

Due to an unpaid court judgement over the renovations, Wells Fargo foreclosed on the mall in 2015.[13][14] Cressona Associates, the malls owners, owed $8,797,305.81 on the original $9.9 million mortgage. The malls manager and Dack Realty, who managed the mall, both left before the property's auction.[15] Cressona Mall was sold on October 15, 2015 at a United States Marshals auction for $9,281,842.21 to Wells Fargo.[4][16][17][18] Planet Fitness opened in November 2016; negotiations to be located at the mall took over a year.[3][19] Goodwill completed an expansion in February 2017.[20]

Anchors

Former Anchors

See also

References

  1. 1 2 3 "Cressona Mall Metro Commercial" (PDF). LoopNet. Retrieved 2 August 2017.
  2. 1 2 3 "The Cressona Mall" (PDF). LoopNet. Retrieved 13 June 2017.
  3. 1 2 3 4 5 Marchiano, Amy (May 13, 2016). "Cressona Mall to bulk up with addition of Planet Fitness". Republican & Herald. Retrieved 13 June 2017.
  4. 1 2 Bortner, Peter E. (October 16, 2015). "Cressona Mall sold to bank at auction". Republican & Herald. Retrieved 13 June 2017.
  5. 1 2 "Fitch Affirms JPMCC 2005-CIBC13". Business Wire. Fitch Ratings. February 25, 2016. Retrieved 14 June 2017.
  6. 1 2 "Transactions". NREI Online. January 1, 1998. Retrieved 13 June 2017.
  7. ↑ Pytak, Stephen J. (March 31, 2016). "CVS to open new Pottsville location in late April". Republican & Herald. Retrieved 13 June 2017.
  8. ↑ Orenstein, Robert H. (November 13, 2009). "Alvernia opens new Schuylkill campus". The Morning Call. Retrieved 13 June 2017.
  9. ↑ "Alvernia University opens graduate center in Cressona Mall". Times News. November 17, 2009. Retrieved 13 June 2017.
  10. ↑ Pytak, Stephen J. (March 31, 2016). "CVS to open new Pottsville location in late April". Republican & Herald. Retrieved 13 June 2017.
  11. ↑ Usalis, John E. (February 10, 2014). "Goodwill store to open at Cressona Mall this week". Republican & Herald. Retrieved 13 June 2017.
  12. ↑ Marchiano, Amy (February 17, 2015). "Water pipe bursts at Cressona Mall". Republican & Herald. Retrieved 13 June 2017.
  13. ↑ Bortner, Peter E. (April 1, 2015). "Cressona Mall faces foreclosure". Republican & Herald. Retrieved 13 June 2017.
  14. ↑ Parker, Chris (April 3, 2015). "Cressona Mall in foreclosure". Times News. Retrieved 13 June 2017.
  15. ↑ Marchiano, Amy (October 6, 2015). "Cressona Mall up for for U.S. Marshals auction". Republican & Herald. Retrieved 13 June 2017.
  16. ↑ "Cressona Mall set for Marshals auction". Reading Eagle. October 7, 2015. Retrieved 13 June 2017.
  17. ↑ Parker, Dwayne (October 14, 2015). "Local shopping mall to be auctioned Thursday". WFMZ. Retrieved 13 June 2017.
  18. ↑ De Tore, Jackie (October 15, 2015). "Cressona Mall Sold for Almost $9.3 Million". WNEP. Retrieved 13 June 2017.
  19. ↑ Marchiano, Amy (November 18, 2016). "Planet Fitness opens in Cressona Mall". Republican & Herald. Retrieved 13 June 2017.
  20. ↑ Marchiano, Amy (March 4, 2017). "Goodwill opens expanded store in Cressona Mall". Republican & Herald. Retrieved 13 June 2017.

Coordinates: 40°38′25″N 76°11′06″W / 40.640278°N 76.185000°W / 40.640278; -76.185000

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