Juneau, Alaska (KINY) A Seattle judge will be asked to approve a $12.5 million offer to buy the Nugget Mall.
KTOO News reported a California developer, Aventine Development Corporation submitted a bid to purchase the 44 year old mall. It has struggled in recent years financially due to tenant vacancies and maintenance problems.
The mall still includes Sportsman's Warehouse, OfficeMax and JOANN Fabrics. The mall is controlled by a court appointed firm that managers the property on behalf of the heirs of the original owners.
Five offers of between $10 and $16 million have been received for the property in the past three years, according to court documents.