The Greeley Mall Finally Has New Owners
It’s been 2 years since the Greeley Mall has had an owner but today that has all changed as the mall was finally sold during an on-line auction. But the final price is far less than the mall’s one time value.
The Greeley Mall which is now almost 30 years old and once valued at over $41-million closed escrow today for just over $6 million to a Nevada based group who are already actively seeking new tenants.
Bruce Biggi, Economic Development Manager for the city of Greeley said he’s hoping the new owner will create a multi-use development project saying,
Which hopefully would contain any number of mixed uses. Retail, commercial, office, housing, whatever elements make sense in a re-development effort.
Biggi says the area encompassing the Greeley mall is in a “Tax Increment Financing district”, which could be utilized to create a successful public private finance initiative.
Greeley Mall General Manager Sandra O’Clock said the new owners are also looking at changing the mall logo right away and creating a strategic plan to revitalize the mall.