Northwest Plaza Hitting the Auction Block | News

A struggling St. Louis County shopping center is going on the auction block. The foreclosed Northwest Plaza and it's 12 story office tower in St. Ann will be auctioned off on line Monday.  The starting bid is $1.25 million. Auctioneers say the previous high value was $12 million. Bidding begins at noon on Auction.com

Northwest Plaza Mall and 500 Office Tower is a one- and two-story super regional mall with a 12-story office building that has 1,829,261 square feet of gross leasable area in St. Ann, a suburb in St. Louis. The mall is currently 8.54% occupied and the office portion is 47.29% occupied. Overall occupancy is 11.87%. The center was formerly anchored by Macy's, Sears, Dillard's, and Steve and Barry's, though all anchors have vacated as of the date of appraisal. Additional outparcel stores include a vacant Toys R Us and vacant The Bedroom Store. The remaining retail tenants are exterior to the mall. The contiguous 12-story office building comprises of 156,505 square feet.
Also up for auction is a 35,940 sq. ft. St. Louis office building at 1300-1322 Hampton Ave. Starting bid $500,000. The building has a combination of office, showroom space, and warehouse space with four docks at the rear of the building.