Wednesday, July 16, 2014
SCRANTON, Pa. (AP) — Department store owner Al Boscov says his company will be negotiating with the mortgage company that now owns the Steamtown Mall with an eye toward purchasing the struggling northeastern Pennsylvania complex.
Miami-based LNR Partners took possession of the mall at a Lackawanna County sheriff's sale Tuesday on behalf of the unnamed lender.
Boscov's department store is the mall's sole anchor tenant after Bon-Ton closed in January. The mall defaulted on a mortgage payment last summer and entered foreclosure in March.
Boscov said he has talked with potential retail tenants, including a possible anchor for the empty Bon-Ton space.
County commissioners said earlier that the county might consider acquiring the mall if the alternative was an empty building, but Commissioner Corey O'Brien said that's not being considered at this point.