BANGOR, Maine — The high bid for the Bangor Mall came in at $14.95 million. The mall was up for auction for more than two days. TEN-X, the company who hosted the online auction, told NEWS CENTER Maine that the name of the potential buyer will be withheld for 30 days, due to finalization purposes.
Although the winning bid reached nearly $15 million, it did not surpass the reserve amount set by the mall. That means that the sale may not be final because the highest bid did not reach the undisclosed minimum price.
Even though the future of the Bangor Mall is unclear, Bangor's Director of Community and Economic Development Tanya Emery is optimistic about what new ownership could mean to the city's retail industry.
"Retail is an important industry in Bangor. It is a huge part of our economy. It's also a critical service that we offer to many of the communities around Bangor that don't have the same shopping options that we do.
"It's really important for the local businesses who might be making decisions on where they locate and also for mall management to know that the city is ready to work with them," Emery said.
The auction for the Aroostook Center Mall is also being hosted by TEN-X. There is no current deadline on that auction.