GREEN BAY, WI (WTAQ-WLUK) — A struggling Green Bay mall is for sale and at least one city alder would like the city to look at purchasing it.
Founders 3 Real Estate Services has East Town Mall listed for sale at $1.9 million.
The mall property is listed as 14.8 acres, with the building at 122,300 square feet. It does not include the attached Kohl’s, Petco, and Hobby Lobby stores.
On the agenda for next Tuesday’s city council meeting, there is a request from Alder Brian Johnson to consider negotiating the purchase of the property. The request would need to go to a city council committee for discussion before any action could be taken.
The site includes a strip of vacant land behind the mall. Johnson suggests a housing development on that land, combined with a new use of the mall, could grow the property’s value to more than $15 million.
Four years ago, a New Jersey developer introduced plans to replace the interior mall format with large store fronts, only accessible from the outside. The plans, which included a 40,000 square foot sporting goods store, 32,000 square foot grocery store, and two smaller retailers never came to fruition.
The real estate listing shows a possible future configuration for the building, which appears to be the same as what the New Jersey developer had pitched.
