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Cressona Mall Sold for Almost $9.3 Million

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NORTH MANHEIM TOWNSHIP -- A mall in Schuylkill County has been sold. The Cressona Mall went up for auction Thursday and went for millions.

That auction lasted only about five minutes and had only one bid for almost $9.3 million.

The new owner of the Cressona Mall is a law firm in Philadelphia.

The shopping will continue at the Cressona Mall for now.

Recently, Wells Fargo filed a lawsuit against the mall, saying the owners of the place along Route 61 owed nearly $9 million.

So, the mall was auctioned off by the feds and the only bid was the winning one -- almost $9.3 million.

"That's a lot of money," said one shopper.

"I think it's high, real high," said another.

"It sounds kind of high, but then again I'm not in the business," said Leonard McCabe of Orwigsburg.

A representative from Ballard Spahr law firm in Philadelphia made the winning bid. The law firm represented Wells Fargo in the bank's lawsuit.

For now things should stay the same at the mall near Schuylkill Haven.

Lisa Svorski owns a hair salon in the mall and wanted to see who would be her new landlord.

"I don't know. Everything went so quick, but I think it's good, hopefully."

People who shop and work at the mall say they're happy. It seems like not much will change right now and they hope it stays that way.

"Now maybe they'll bring in more business, more jobs and that's what the people in the area need," said Maryellen Miller of Deer Lake.

Other people say they don't think a new owner or more money will help the Cressona Mall.

"There are better stores out there, but they're just not coming into the area because it's so depressed," said Charles Covelusky of Orwigsburg.

Lisa Svorski will continue doing her work, and keep hoping for the best.

"I need to stay in business. I've been there for 30 years and I've owned the business for 12."

The sale of the Cressona Mall won't be final for another 30 days or so. After that, the bank and the law firm can do what they want with the place, even resell it.


    • Don Kline

      Land. They probably don’t care about the structure, that can be altered or torn down. The land is the value. Prime corner. Could be a nice med center for PSU or some other bigger group. Retail covered malls are having a tough time. Park City seems to be one of the exceptions.

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