Monroe Township, Pa. – The Susquehanna Valley Mall on Routes 11/15 in Monroe Township, Snyder County, is scheduled for a sheriff’s sale at 1 p.m. Friday, August 9, 2019. A representative of Snyder County Sheriff John Zechman’s office confirmed this week that the sale is scheduled in a courtroom at Snyder County Courthouse in Middleburg. The sheriff’s office is expecting a crowd.
The mall’s owner, Susquehanna Valley Mall Associates, defaulted on the $33.4 million mortgage. The mortgage holder, U.S. National Bank Associates, filed court documents several months ago to petition for the sale.
There is a chance the sheriff’s sale will be canceled if a settlement is negotiated, according to the sheriff’s office. A representative at Susquehanna Valley Mall Associates referred a reporter’s questions to their management, Spinoso Real Estate Group, whose spokesperson said the CEO will send an official statement later this week.
The sale of the mall does not necessarily mean stores will close. The stores have leases that would be honored. Though Susquehanna Valley Mall once had four anchor stores – including Sears, J.C. Penney and Bon-Ton – they have since closed.
Boscov’s is the last remaining anchor store. Jacob Stein, Senior Vice President of Real Estate for Boscov’s, emphasized that because the store has a lease there they will remain. “We control our building; we don’t own it,” Stein said. Stein said Boscov’s was built shortly before the mall opened and then the mall was later built around it. The Susquehanna Valley Mall opened in 1978.
Family Practice Centers is slated to open an office next year at the former Sears parcel. The CEO of Family Practice Centers, Al Lagerman, did not immediately return a phone call for comment.