Want to Buy a Mall? This Southwest Michigan Location is Up for Auction
After falling into some financial trouble, the Orchards Mall in Benton Harbor is going up for auction soon.
The auction is being conducted by a Detroit area commercial real estate company with a starting bid of $750,000. Winning the auction and plunking down the change will get your ownership of the mall with over half-million square feet. But you'll likely want some friends to join you at the mall so you won't get lonely, the auction website lists the occupancy rate at just 45%. The current anchor stores at JC Penney and Jo-Ann Fabrics. A third anchor store, Carson's, closed last month (April, 2018).
The mall dates to 1979, making it the second oldest mall in Southwest Michigan, having been built eight years after Maple Hill Mall in Kalamazoo but a year older than Crossroads Mall in Portage and four years older than Lakeview Square Mall in Battle Creek.
The auction doesn't want just anyone who's watched an episode of Storage Wars showing up and bidding. There's a hefty $10,000 price tag just for the right to bid. Here's the direct link to the auction site.
But if you do have the cheddar for the auction, here are some tips from Storage Wars bidmaster Dave Hester:
BONUS VIDEO - Like The Old Mall Arcade - Klassic Arcade in Gobles
[h/t Moody on the Market]