All Things Maine
All Things Maine

Friday, December 02, 2005

Schott Bought the Mall

The Auburn Mall was sold Thursday to developer George Schott for $14.5 million.
When the mall was built in 1979, it was one of the first enclosed malls in Maine. It thrived as a retail center for decades until the 1990s, when a recession started to drain the mall of tenants. Schott said the mall's occupancy rate now stands at about 70 percent. [Link]
Schott plans to rehabilitate the mall, and to recruit more "big-box" retailers to set up shop nearby.

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