Want to Buy Grand Avenue Mall? Auction Bids Start at $4.75 Million
Milwaukee's long-declining downtown shopping mall, the Shops of Grand Avenue, is again on the block. The mall appears on the website Auction.com for an auction starting June 19th, as was reported yesterday by the Milwaukee Business Journal. Bids start at $4.75 million.
The mall, along Wisconsin Avenue between Plankinton and 4th Street, has been bought and sold twice in the last decade. The last sale was in 2012 to "a Bank of America commercial mortgage trust," according to the Business Journal, for $8.5 million.
Owners have periodically tried to inject new life into the mall, which thrived a quarter century ago. But those efforts have had only mixed success.
Stacy Vogel Davis is associate editor at the Milwaukee Business Journal and has covered the saga of the Grand Avenue Mall.