The mall has been sold!
New management!
Out with the old!
...in with the new... But what is the future?
This is a press release to persons within the mall ..
The winning bidder was Northpoint Development LLC 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.
The death of the mall? Or a new birth.. time will tell..
But for now, we can tell this about the new ownership of the mall from
their own website..
We believe we have an obligation to give back to the community through charitable efforts and, as a token of our appreciation to those who have helped us succeed, we will pay it forward.
The relationships with our customers, employees, and investors are our most valuable assets. We will strive to always take care of each other and to operate our business so that we maintain our culture of appreciation, respect, transparency, and we shall avoid office politics.
We also know this about Northpoint.. the development company has also recently purchased Highridge properties in Minersville.. They spent $28 mil, as a matter of fact, on two parcels in Highridge late 2015..
In January 2017, just days ago, it was reported that chew.com company based in Dania Beach, Fla., will lease an 800,000-square-foot distribution center that NorthPoint is developing on a 172-acre site in Hanover Township near Wilkes-Barre.. NorthPoint acquired the site, which was remediated after being scarred by coal mining, for $15 million in September.
In 2014, the Kansas City Missouri went nation when it launched big industrial and apartment projects..
The company also made national headlines in 2016 when it considered a $32 million facility in Indiana ..
Just a few days ago, Kansas City
BUSINESS JOURNAL reported that the company's developments were 'taking off like rockets' ..
Northpoint apparently has 'found a friend in Pennsylvania.' And now the future of the Schuylkill Mall is in their hands..