November 19th, 2020 by WCBC Radio
According to a representative with the commercial real estate firm Ten-X, the Country Club Mall was sold Wednesday, but the buyer has not yet been identified. The Cumberland Times News was the first to report the transaction late Wednesday afternoon. The mall, excluding the property occupied by Walmart, has been placed in escrow following the acceptance of a successful bid from an undisclosed buyer. According to Ten-X, the identity of the buyer and the amount of the sale will not be disclosed until the sale closes and the information is entered into public land records. Ten-X posted a notice in early October that the current owner, Gumberg Asset Management of Fort Lauderdale, Florida, had fallen into arrears with no payments made since May. The Mall, which opened in 1981, has seen Sears, Bon-Ton and JC Penny close their doors in recent years, leading to regular speculation about the its future. Allegany County Commissioner David Caporale told WCBC News that the county hopes to learn more in the coming days- and is eager to work with the new owner, moving forward.
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