After A 24-Year Run, The Aroostook Centre Mall Is Now On The Auction Block…Again
For the second time in its 24-year lifespan in the County, the Aroostook Centre Mall is on the auction block again. A legal ad is running this week in Presque Isle.
According to a report from Fiddlehead Focus, the Aroostook Centre Mall is up for sale. There is a legal ad running this week in the Presque Isle Star Herald.
Mortgage lender Wells-Fargo will hold a public sale of the mall on October 31.
The Aroostook Centre Mall has not been able to pay off a 10-year loan in the tune of 10.3-million dollars that came to full maturity in June.
Widewaters Group of New York originally built the mall in 1993, which was the same year that the government announced the closure of Loring Air Force Base, and has struggled to keep the property fully occupied since then.
As of 2000, Aroostook County lost 15-percent of its population, according to U.S. Census figures, which has affected the community as a whole.