Feb
05

Forest Acres Mall Up For Sale……. Again

By

– The State

Midtown at Forest Acres — formerly Richland Mall, formerly Richland Fashion Mall — is once again up for sale.

The Florida ownership group has placed the mall on the market for $28.5 million. The financing group took over the mall in foreclosure in 2007.

“The present owners are not operators of real estate,” broker Bill Kohlhepp said from his Fort Lauderdale office. “They are looking for a major, significant, national-scale operator of malls to come in.”

A sale would be the fourth time the mall has changed hands since 1992. The mall sold for about $16 million in 2002.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/breakingbiz/story/674819.html
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BLOG NOTE:
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I have been involved in appraisal or consulting services on this mall in recent years, and I sincerely hope that the right buyer comes along. It is well located and has lots of potential. You can reach the broker, Bill Kohlhepp, CCIM, here:
http://www.billkohlheppgroup.com/index.html
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Michael Dodds, MAI, CCIM

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