Berks

Al Boscov interested bidder in auction of The Mall at Steamtown in Scranton

Sheriff's sale of downtown mall set for June 10; asking price is $43.7 million

SCRANTON, Pa. - A shopping mall in Scranton will go on the auction block in June, and Al Boscov is one of the interested bidders.

The Mall at Steamtown in downtown Scranton will head to a sheriff's sale on June 10. A list on the Lackawanna County sheriff's office website indicates that the asking price will be $43.7 million.

Al Boscov, chairman and chief executive of the Exeter Township-based Boscov's department store chain, has said he is interested in bidding.

With the closing of The Bon-Ton in January, Boscov's is now the mall's sole anchor tenant.

The mall defaulted on a mortgage payment last summer and entered foreclosure March 7. Boscov said at the time that mall occupancy was about 65 percent, but the complex has lost three tenants since then.

The mall, which opened in October 1993, is a joint venture between an affiliate of the Shopco Group LP and Boscov's Realty Group, an affiliate of Boscov's, according to the mall's website.


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