Charleston Retail Centers to be Auctioned


Two Charleston shopping centers are scheduled to be auctioned to the highest bidder on Tuesday.

Citadel Mall, located at 2070 Sam Rittenberg Blvd. in West Ashley, has a judgment of more than $69 million, according to Charleston County’s Master-in-Equity auction list. Its neighbor West Ashley Shoppes is more than $24 million in debt.

Wachovia Bank National Association loaned $75.2 million to Citadel Mall CMBS LLC in March 2007 with an annual interest rate of 5.68%, according to court documents. The mall didn’t pay the full monthly payments from May through July 2013, the documents said, and the company filed a mortgage foreclosure complaint July 31.


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