Aroostook Centre Mall Sells for $4.6 million, Presque Isle, Maine
Officials say the Aroostook Centre Mall in Presque Isle has been sold to an undisclosed buyer for 4.6 million dollars.
The Bangor Daily News reports Frederick Meno, president and CEO of the Woodmont Company, which is responsible for running the mall, confirmed the sale on Sunday.
Ten-X, an online auction and commercial real estate seller, also posted that escrow had closed on the mall on Friday, March 8.
The Aroostook Centre Mall previously went up for auction on October 31, 2017 but attracted no interested buyers. The mortgage holder, Wells Fargo, ending up buying the property for $4 million, less than one-third of its assessed value at the time.
The mall, which opened in 1993, boasts 500,000 square feet of retail space, but has struggled through the years to fill that space.