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Cressona Mall

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Coordinates: 40°38′25″N 76°11′06″W / 40.640278°N 76.185000°W / 40.640278; -76.185000
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Cressona Mall
Map
LocationPottsville, Pennsylvania, United States
Coordinates40°38′25″N 76°11′06″W / 40.640278°N 76.185000°W / 40.640278; -76.185000
Address1544 Route 61[1]
Opening dateOctober 2, 1973[2]
ManagementMetro Commercial[3][needs update]
OwnerAmerica's Realty[4][5]
No. of stores and services21[3][needs update]
No. of anchor tenants1[6]
Total retail floor area283,308 sq ft (26,320.2 m2)[5]
Parking300 spaces[7]
Public transit accessBus transport STS bus: 30[8]

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

History

[edit]

Cressona Mall opened on October 2, 1973, with Hills as its anchor.[2] Laneco had plans to open a store at the mall in early 1982, using the former Grant's space.[9] Due to the store being sold, Acme was rebranded Insalacos in January 1995.[10] Laneco closed at the mall in March 1995.[11][12] Hills expanded its store and Staples opened at the mall in 1996.[12] The Surgery Center of Pottsville opened in 2006.[4] The Cressona Mall in 2007-2008 received exterior renovations.[7][13] Alvernia University opened a satellite campus in 2009, using former office and store space.[14][15][16] CVS Pharmacy moved out of the mall in October 2010.[17] Goodwill opened in February 2014, using the former CVS Pharmacy space.[18] In February 2015, the primary sprinkler water pipe broke during cold weather.[19]

Due to an unpaid court judgement over the renovations, Wells Fargo foreclosed on the mall in 2015.[20][21] 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.[22] Cressona Mall was sold on October 15, 2015, at a United States Marshals auction for $9,281,842.21 to Wells Fargo.[23][24][25][26] JPMCC 2005-CIBC13 Route 61 South Limited Partnership was listed as the owner under Wells Fargo.[3][23] Planet Fitness opened in November 2016; negotiations to be located at the mall took over a year.[3][27] Goodwill completed an expansion in February 2017.[28]

Cinderella's Closet opened at the mall in 2018 after being previously located at the former Schuylkill Mall.[29][30] 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.[31] Namdar Realty Group was later named in several articles as the primary owner.[4][32] Cressona Mall was again sold in November 2021 for $16 million to America's Realty.[4][5][32] The Surgery Center of Pottsville closed in June 2022.[4] Repaving of the parking out occurred at the Cressona Mall in late 2022.[33] Alvernia University left the Cressona Mall in January 2023 and moved into a new location within Pottsville.[4][34][35][36][37]

Anchors

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Former Anchors

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See also

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References

[edit]
  1. ^ a b c "Cressona Mall Metro Commercial" (PDF). LoopNet. Retrieved 30 May 2017.
  2. ^ a b Betz, Jake (October 24, 2009). "Dangers and change in the coal mines". Republican & Herald. Retrieved 14 February 2022.
  3. ^ a b c d e Marchiano, Amy (May 13, 2016). "Cressona Mall to bulk up with addition of Planet Fitness". Republican & Herald. Retrieved 13 June 2017.
  4. ^ a b c d e f Writer, Christine Lee Staff (June 22, 2022). "Surgery Center will be third tenant to leave Cressona Mall, while new owners have plans for revival". Republican & Herald. Retrieved 11 August 2022.
  5. ^ a b c "Eastern Union closes $73M in financing in 6 months for 7 retail centers". Real Estate Weekly. 1 August 2022. Retrieved 11 August 2022.
  6. ^ a b "Fitch Affirms JPMCC 2005-CIBC13". Business Wire. Fitch Ratings. February 25, 2016. Retrieved 14 June 2017.
  7. ^ a b "The Cressona Mall" (PDF). LoopNet. Retrieved 13 June 2017.
  8. ^ "Pottsville-Schuylkill Haven 30 bus schedule" (PDF). Schuylkill Transportation System. Retrieved November 24, 2019.
  9. ^ a b Egan, Kevin (January 20, 2016). "A LOOK BACK". Times News. Retrieved 30 May 2018.
  10. ^ "Days Gone By January 19, 2020". Republican & Herald. January 19, 2020. Retrieved 14 February 2022.
  11. ^ "Days Gone By January 9, 2020". Republican & Herald. January 8, 2020. Retrieved 14 February 2022.
  12. ^ a b "Days Gone By February 1, 2021". Republican & Herald. January 31, 2021. Retrieved 14 February 2022.
  13. ^ "Cressona Mall manager expects tenant for anchor". Republican & Herald. January 9, 2008. p. A.1.
  14. ^ Pytak, Stephen J. (November 13, 2009). "Alvernia University welcomes public with open house". Republican & Herald. Retrieved 14 June 2017.
  15. ^ Orenstein, Robert H. (November 13, 2009). "Alvernia opens new Schuylkill campus". The Morning Call. Retrieved 13 June 2017.
  16. ^ "Alvernia University opens graduate center in Cressona Mall". Times News. November 17, 2009. Retrieved 13 June 2017.
  17. ^ Pytak, Stephen J. (March 31, 2016). "CVS to open new Pottsville location in late April". Republican & Herald. Retrieved 13 June 2017.
  18. ^ Usalis, John E. (February 10, 2014). "Goodwill store to open at Cressona Mall this week". Republican & Herald. Retrieved 13 June 2017.
  19. ^ Marchiano, Amy (February 17, 2015). "Water pipe bursts at Cressona Mall". Republican & Herald. Retrieved 13 June 2017.
  20. ^ Bortner, Peter E. (April 1, 2015). "Cressona Mall faces foreclosure". Republican & Herald. Retrieved 13 June 2017.
  21. ^ Parker, Chris (April 3, 2015). "Cressona Mall in foreclosure". Times News. Retrieved 13 June 2017.
  22. ^ Marchiano, Amy (October 6, 2015). "Cressona Mall up for U.S. Marshals auction". Republican & Herald. Retrieved 13 June 2017.
  23. ^ a b Bortner, Peter E. (October 16, 2015). "Cressona Mall sold to bank at auction". Republican & Herald. Retrieved 13 June 2017.
  24. ^ "Cressona Mall set for Marshals auction". Reading Eagle. October 7, 2015. Retrieved 13 June 2017.
  25. ^ Parker, Dwayne (October 14, 2015). "Local shopping mall to be auctioned Thursday". WFMZ. Retrieved 13 June 2017.
  26. ^ De Tore, Jackie (October 15, 2015). "Cressona Mall Sold for Almost $9.3 Million". WNEP. Retrieved 13 June 2017.
  27. ^ Marchiano, Amy (November 18, 2016). "Planet Fitness opens in Cressona Mall". Republican & Herald. Retrieved 13 June 2017.
  28. ^ Marchiano, Amy (March 4, 2017). "Goodwill opens expanded store in Cressona Mall". Republican & Herald. Retrieved 13 June 2017.
  29. ^ Smith, Zachary (27 May 2018). "Cinderella's Closet finds a new home in Schuylkill County". PAHomepage. Retrieved 30 May 2018.
  30. ^ Usalis, John E. (May 30, 2018). "Cinderella's Closet finds a new home". Republican & Herald. Retrieved 30 May 2018.
  31. ^ Bortner, Peter E. (November 9, 2019). "Cressona Mall sold for $8.05M". Republican & Herald. Retrieved 11 November 2019.
  32. ^ a b "Namdar Realty Group Sells 283,553-Square-Foot Shopping Center in Pennsylvania". Shopping Center Business. 12 November 2021. Retrieved 14 February 2022.
  33. ^ Marchiano, Amy (6 September 2022). "Smoothing out the parking lots at the malls in Schuylkill County". Republican & Herald. Retrieved 11 July 2023.
  34. ^ Lee, Christine (June 21, 2021). "Alvernia University to acquire former Giant grocery store in Pottsville". Republican & Herald. Retrieved 9 July 2021.
  35. ^ Keely, Marshall (June 24, 2021). "Grocery store building to become college campus". WNEP. Retrieved 9 July 2021.
  36. ^ Alfree, Claire (January 17, 2023). "Alvernia's Pottsville CollegeTowne campus opens". WNEP. Retrieved 3 February 2023.
  37. ^ Parker, Chris (January 23, 2023). "Pottsville CollegeTowne opens to students". Times News. Retrieved 3 February 2023.
  38. ^ a b c "Transactions". National Real Estate Investor. January 1, 1998.
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