Monroeville Mall is for sale
MONROEVILLE, Pa. (KDKA) — The Monroeville Mall is for sale.
CBL Properties has put the shopping complex up for sale. It is a 187-acre property that includes the main mall building, the adjacent strip mall, an expansion near the front entrance, as well as the out parcels of Best Buy and Firestone.
"If they're gonna sell it and it stays open and maybe make improvements, I'd say that's OK," shopper John Mascilli said on Tuesday. "I would hate to see it close down and not open for the area."
The owners have listed the properties with JLL Investments. The listing describes the mall as a super-regional attraction with major anchor stores like Macy's, JCPenney, Dick's Sporting Goods and others.
As to why the mall is for sale, the only source to truly answer that question is CBL Properties, which is not talking. The asking price is not listed.
CBL Properties paid $231 million for the property back in 2004. Industry experts suggest it's unlikely they'll get more than that.
So, does this mean the mall will be closing? Well, quite likely, no. As long as the main anchors remain in place, the smaller shops will always follow. Ownership changes like this rarely have any noticeable change.
So, for now, it will likely be business as usual, even if new owners come down the road.