A Transwestern official tells Globest.com that the bidding for the property was intense with more than 300 confidentiality agreements from both domestic and international investors.
The promising US economic recovery is becoming increasingly fragile, with strong retail sales and home sales on the plus side versus weakening consumer confidence and delayed federal stimulus efforts on the downside.
Converting these malls to fulfillment centers, apartment complexes, schools or medical offices could reduce their property values anywhere from 60% to 90%.
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