INDIAN RIVER COUNTY — Local shoppers are concerned about the possibility of the Indian River Mall’s closing.
Jamie Sava, of Dancie Perugini Ware Public Relations, could not give any specifics on whether the mall would be open after the foreclosure proceedings were complete.
Sava said they have no information that can be released at this time.
A foreclosure auction has been set for the Indian River Mall by Indian River County.
The auction is going to be held March 18, 10 a.m., to the “highest bidder for cash.”
The foreclosure, according to court documents, is being brought by Wells Fargo Bank. The final judgment amount was set at $71.3 million. This included the principal amount of $69.48 million, interest at the default rate of $1.8 million and attorneys’ fees of $44,182.
The mall has 70 specialty stores, including American Eagle Outfitters, Talbots, Hollister, Victoria’s Secret, Gymboree and Express, according to www.Simon.com. They also have 6-vendor food court or sit down at T.G.I. Friday’s and the AMC 24-Screen Stadium Theatre. The Indian River Mall is in the Simon Mall family.
Debt started to accrue Nov. 1, 2014, according to the courts, and continued through Feb. 11, 2015.
The foreclosure document was produced Feb. 13.
