archivemalls

Orange Park Mall could soon be under new ownership.Washington Prime Group plans to sell its entire portfolio of 50 shopping centers, including Orange Park Mall, as it lays off employees at its corporate headquarters, as first reported by Jacksonville Daily Record.This would be the second mall in Jacksonville to recently undergo a sale after Blackwater Development finalized its purchase of Regency Square Mall earlier this month.The property purge includes 10 malls and shopping centers in Florida.The Orange Park Mall turns 50 years old this year and is the Jacksonville area's...

An aerial view of the 2.4M SF Destiny USA mall in Syracuse, New York The owner of the 2.4M SF Destiny USA, New York’s largest mall, has defaulted on a $300M mortgage on the property.  An independent auditor's report, presented with the most recent financial statements of parent company Pyramid Management Group, says, “These conditions raise substantial doubt about the company’s ability to continue as a going concern,” Syracuse.com reported.  The default happened when Carousel Center Co., the Pyramid Management Group entity that owns the original part of the mall, didn't lock in an extension on...

An aerial view of the 2.4M SF Destiny USA mall in Syracuse, New York The owner of the 2.4M SF Destiny USA, New York’s largest mall, has defaulted on a $300M mortgage on the property.  An independent auditor's report, presented with the most recent financial statements of parent company Pyramid Management Group, says, “These conditions raise substantial doubt about the company’s ability to continue as a going concern,” Syracuse.com reported.  The default happened when Carousel Center Co., the Pyramid Management Group entity that owns the original part of the mall, didn't lock in an extension on...

An aerial view of the 2.4M SF Destiny USA mall in Syracuse, New York The owner of the 2.4M SF Destiny USA, New York’s largest mall, has defaulted on a $300M mortgage on the property.  An independent auditor's report, presented with the most recent financial statements of parent company Pyramid Management Group, says, “These conditions raise substantial doubt about the company’s ability to continue as a going concern,” Syracuse.com reported.  The default happened when Carousel Center Co., the Pyramid Management Group entity that owns the original part of the mall, didn't lock in an extension on...