The future of Valley View Mall is in limbo, now that its long-time owner has ordered a foreclosure sale.
The PREIT company of Pennsylvania has announced that it transferred the La Crosse mall to a special servicer in August, as part of a “non-core property disposition program.”
PREIT corporate website no longer lists Valley View as one of its malls.
Valley View marked its 40th anniversary in business in July of this year.
A published report says a court order was issued this fall to conduct a foreclosure sale on the mall, after at least one missed payment on a loan.
The company says the COVID-19 pandemic has forced it to file for bankruptcy.
PREIT has owned Valley View since 2003, and announced three years ago that it was offering the mall for sale.
In recent years, Valley View has gone down from four anchor stores to just one, JC Penney.
However, a VA medical clinic is expected to open soon in the former Herbergers storefront, and Hy-Vee just announced plans to open a supermarket in the former Sears store at the mall.