DeWitt (WSYR-TV) - Bidding for ShoppingTown Mall in DeWitt begins today after its previous owners defaulted on a multi-million dollar loan two years ago.
The future for the mall is up in the air as former owner, the Macerich Company, called ShoppingTown one of its least profitable assets when they defaulted on a nearly $40 million loan two years ago.
According to the online auction site
, bids start at $7 million.
A third of the mall is empty.
With a pending auction, the property is maintained, but efforts to bring in more shoppers are minimal.
Bidding is scheduled to end on Wednesday, August 21.