Wanna Buy The Mall? It’s Being Auctioned Off Tomorrow.
Well, tomorrow is the big day. The Bangor Mall is going to hit the auction block. It was announced back in January that the owners of the Mall had decided to put it up for sale. And, it's no secret that the Mall has been struggling for the last several years, as more and more people do the bulk of their shopping online.
But still... Having grown up in this area, and always had the mall here in some way or other, it does spark a bit of nostalgia. Sure, you can order a ton of presents online and have the UPS guy play Santa Claus for you. But I actually kind of miss going to the mall and getting all the shopping done. People were usually in a decent holiday mood with the hustle and bustle of the holidays.
But that's just not how it's done anymore. Made even more painfully obvious by the former owners of the Mall defaulting on a $10 million+ loan back in 2017. Since then, the new owners have tried to attract new businesses and activity, but to little or no avail.
This isn't really the fault of the mall entirely. With folks choosing to spend their money differently, it's hard to compete. Large chain stores going belly-up is not the fault of the Mall. It's not their fault Sears went out of business. Or Payless Shoes. These stores were already crumbling on a national level. And the Mall is the one that's suffered for it, not the other way around.
The starting bid tomorrow will be $6.5 million, according to the Bangor Daily News. Maybe it's time to dig through the couch and scrounge up the change to buy it yourself? It's only $50,000 to take part in the auction....
The winning bid will be announced at the end of the auction on Wednesday.