The winning bidder was Northpoint Development LLC for $2.1 million and the assumption of the leases for A&A Auto Parts, Total Renal Care, Big Lots, McDonald’s, Holiday Inn Express and Cracker Barrel. Northpoint will also maintain Bon Ton’s rights under their ground lease agreement. They will allow rejection of all leases by the trustee pursuant to the bankruptcy code.
This bid is subject to a hearing and approval by the United States Bankruptcy Court For the Middle District of Pennsylvania, which is scheduled a hearing tomorrow. If approved by the court, closing is to take place by February 24.
As to the future the mall I cannot project nor do I know the plans by Northpoint.
The death of the mall? Or a new birth.. time will tell..
