Silver City Galleria Is Up for Auction
First the Swansea Mall and now the Silver City Galleria. Clearly shopping on the SouthCoast will never be the same.
The Taunton Gazette reports the shopping center has officially entered foreclosure. And if you want to own it a deposit of $150,000 could allow you to bid on the property when an auction takes place on May 17th at 10 a.m.
I'm sure none of this is good news for the tenants still occupying the mall.
Even though anchor stores like Macy's, Best Buy and Sears have closed in recent years, the Silver City Galleria does still have dozens of stores open for business.
The mall has space for 120 retailers to be in business actually, so there is plenty of room for new owners to grow.
But who will those new owners be?
The property is 1.1 million square feet of two-story building and new zoning passed last year means the site could used for residential, office and entertainment.
And with over 100 acres of land around the building, there are plenty of possibilities on Route 140. You just need someone with some vision and some money to turn the location around.
That could happen on May 17th, which would be much nicer to see than that giant building just falling by the wayside for years.
Still the futures of both SouthCoast malls are up in the air and up to the highest bidder.