Westridge Mall in Fergus Falls to be Sold in Auction
Zeke Fuhrman | Nov 20, 2019 AT 8:33 pm
FERGUS FALLS (KBRF) - The Westridge Mall in Fergus Falls is being put up for an auction sale. The announcement was made around 3pm, by Greater Fergus Falls CEO Anne Deckert.
It has been for sale for several months, but will now be made available, via a real estate auction, with a starting bid of $700,000 and will take place online from December 9th through the 11th.
Here is the official press release from Greater Fergus Falls CEO Annie Deckert:
FOR IMMEDIATE RELEASE
WESTRIDGE MALL UP FOR AUCTION
(Fergus Falls, Minn.) - Ten X Commercial, the nation's leading commercial real estate marketplace listed the Westridge Mall this week. Built in 1978, the mall was originally anchored by Woolworth’s, JCPenney’s, Red Owl Grocery, and Herberger’s, has been a regional shopping destination for decades. With current anchors such as Dunham’s Sports and Dollar Tree, and neighbors that include Westridge Cinema and Home Depot, this sprawling 27+ acres is ripe for redevelopment opportunities.
The property, which includes a 222,000+ sf mall with an additional 6,000+ sf outlot building is just one half mile from the I-94 corridor. Situated just 60 miles from the Fargo-Moorhead area and 185 miles from the Twin Cities Metro, Fergus Falls offers a big city living in outstate Lakes Country.
GFF CEO Annie Deckert says "This is a phenomenal opportunity for investors to purchase nearly 300,000 sq ft under roof, on 28 acres of prime real estate as an underperforming asset with very real potential to see huge future gains under a well capitalized group with experienced management.
This type of opportunity to purchase well anchored property in a regional center doesn't come around very often. We have a team at GFF who is ready to work alongside the right developer to bring new life to this amazing property. The city of Fergus Falls is committed to playing a part in the economic growth of our region." For details about the auction and other opportunities in Fergus Falls, visit greaterfergusfalls.com or connect with us on social media." The auction will run between December 9-11th, 2019 with a starting bid of $700,000.
The mission at GFF is to support and grow the area business community by retaining existing businesses, revitalizing our local economy, and recruiting new entrepreneurs and innovators. The vision is to provide support to a vibrant business community through the removal of barriers for start-ups, expansions, and ensuring the continued health of existing businesses in our area.