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Cressona Mall

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Coordinates: 40°38′25″N 76°11′06″W / 40.640278°N 76.185000°W / 40.640278; -76.185000
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Cressona Mall
Map
LocationPottsville, Pennsylvania, United States
Coordinates40°38′25″N 76°11′06″W / 40.640278°N 76.185000°W / 40.640278; -76.185000
Address1544 Route 61[1]
Opening date1976[2]
ManagementMetro Commercial[3]
OwnerCressona Realty LLC
Cressona CH LLC
Cressona Nassim LLC[4]
No. of stores and services21[3][needs update]
No. of anchor tenants1[5]
Total retail floor area281,752 sq ft (26,175.6 m2)[6]
Parking300 spaces[2]
Public transit accessBus transport STS bus: 30[7]

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

History

Laneco had plans to open a store at the mall in early 1982, using the former Grant's space.[8] The Cressona Mall in 2007-2008 received exterior renovations.[2] Alvernia University opened a satellite campus in 2009, using former office and store space.[9][10][11] CVS Pharmacy moved out of the mall in October 2010.[12] Goodwill opened in February 2014, using the former CVS Pharmacy space.[13] In February 2015, the primary sprinkler water pipe broke during cold weather.[14]

Due to an unpaid court judgement over the renovations, Wells Fargo foreclosed on the mall in 2015.[15][16] 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.[17] Cressona Mall was sold on October 15, 2015 at a United States Marshals auction for $9,281,842.21 to Wells Fargo.[18][19][20][21] JPMCC 2005-CIBC13 Route 61 South Limited Partnership was listed as the owner under Wells Fargo.[3][18] Planet Fitness opened in November 2016; negotiations to be located at the mall took over a year.[3][22] Goodwill completed an expansion in February 2017.[23]

Cinderella's Closet opened at the mall in 2018 after being previously located at the former Schuylkill Mall.[24][25] Cressona Mall was sold to Cressona Realty LLC (55%), Cressona CH LLC (40%), and Cressona Nassim LLC (5%) for $8,050,000 in November 2019.[4]

Anchors

Former Anchors

See also

References

  1. ^ a b c "Cressona Mall Metro Commercial" (PDF). LoopNet. Retrieved 30 May 2017.
  2. ^ a b c "The Cressona Mall" (PDF). LoopNet. Retrieved 13 June 2017.
  3. ^ a b c d e Marchiano, Amy (May 13, 2016). "Cressona Mall to bulk up with addition of Planet Fitness". Republican & Herald. Retrieved 13 June 2017.
  4. ^ a b Bortner, Peter E. (November 9, 2019). "Cressona Mall sold for $8.05M". Republican & Herald. Retrieved 11 November 2019.
  5. ^ a b "Fitch Affirms JPMCC 2005-CIBC13". Business Wire. Fitch Ratings. February 25, 2016. Retrieved 14 June 2017.
  6. ^ "Cressona Mall" (PDF). Mason Asset Management. Retrieved 9 December 2019.
  7. ^ "Pottsville-Schuylkill Haven 30 bus schedule" (PDF). Schuylkill Transportation System. Retrieved November 24, 2019.
  8. ^ a b Egan, Kevin (January 20, 2016). "A LOOK BACK". Times News. Retrieved 30 May 2018.
  9. ^ Pytak, Stephen J. (November 13, 2009). "Alvernia University welcomes public with open house". Republican & Herald. Retrieved 14 June 2017.
  10. ^ Orenstein, Robert H. (November 13, 2009). "Alvernia opens new Schuylkill campus". The Morning Call. Retrieved 13 June 2017.
  11. ^ "Alvernia University opens graduate center in Cressona Mall". Times News. November 17, 2009. Retrieved 13 June 2017.
  12. ^ Pytak, Stephen J. (March 31, 2016). "CVS to open new Pottsville location in late April". Republican & Herald. Retrieved 13 June 2017.
  13. ^ Usalis, John E. (February 10, 2014). "Goodwill store to open at Cressona Mall this week". Republican & Herald. Retrieved 13 June 2017.
  14. ^ Marchiano, Amy (February 17, 2015). "Water pipe bursts at Cressona Mall". Republican & Herald. Retrieved 13 June 2017.
  15. ^ Bortner, Peter E. (April 1, 2015). "Cressona Mall faces foreclosure". Republican & Herald. Retrieved 13 June 2017.
  16. ^ Parker, Chris (April 3, 2015). "Cressona Mall in foreclosure". Times News. Retrieved 13 June 2017.
  17. ^ Marchiano, Amy (October 6, 2015). "Cressona Mall up for U.S. Marshals auction". Republican & Herald. Retrieved 13 June 2017.
  18. ^ a b Bortner, Peter E. (October 16, 2015). "Cressona Mall sold to bank at auction". Republican & Herald. Retrieved 13 June 2017.
  19. ^ "Cressona Mall set for Marshals auction". Reading Eagle. October 7, 2015. Retrieved 13 June 2017.
  20. ^ Parker, Dwayne (October 14, 2015). "Local shopping mall to be auctioned Thursday". WFMZ. Retrieved 13 June 2017.
  21. ^ De Tore, Jackie (October 15, 2015). "Cressona Mall Sold for Almost $9.3 Million". WNEP. Retrieved 13 June 2017.
  22. ^ Marchiano, Amy (November 18, 2016). "Planet Fitness opens in Cressona Mall". Republican & Herald. Retrieved 13 June 2017.
  23. ^ Marchiano, Amy (March 4, 2017). "Goodwill opens expanded store in Cressona Mall". Republican & Herald. Retrieved 13 June 2017.
  24. ^ Smith, Zachary (27 May 2018). "Cinderella's Closet finds a new home in Schuylkill County". PAHomepage. Retrieved 30 May 2018.
  25. ^ Usalis, John E. (May 30, 2018). "Cinderella's Closet finds a new home". Republican & Herald. Retrieved 30 May 2018.
  26. ^ a b c "Transactions". National Real Estate Investor. January 1, 1998.
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