Cressona Mall

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

Cressona Mall
LocationPottsville, Pennsylvania, United States
Coordinates40.640278°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]
No. of anchor tenants1[5]
Total retail floor area281,752 sq ft (26,175.6 m2)[6]
Parking300 spaces[2]
Public transit access STS bus: 30[7]

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. "Cressona Mall Metro Commercial" (PDF). LoopNet. Retrieved 30 May 2017.
  2. "The Cressona Mall" (PDF). LoopNet. Retrieved 13 June 2017.
  3. Marchiano, Amy (May 13, 2016). "Cressona Mall to bulk up with addition of Planet Fitness". Republican & Herald. Retrieved 13 June 2017.
  4. Bortner, Peter E. (November 9, 2019). "Cressona Mall sold for $8.05M". Republican & Herald. Retrieved 11 November 2019.
  5. "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. 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. 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. "Transactions". National Real Estate Investor. January 1, 1998.
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