Rumor Weed Growing...

[USFMikeB]

http://www.tbo.com/news/money/MGBT8THTDNE.html

In a statement, Glimcher announced that it will try to sell University Mall along with two malls in Houston and malls in Charlotte, N.C., and Montgomery, Ala. The company hopes to fetch up to $270 million for the malls combined, after expenses. Glimcher did not break out a prospective sale price for University Mall.

Do we know if the Mall ever sold after going up for sale early in '06?

Not according to the Glimcher realty trust website: http://www.glimcher.com/pages/press/details/index.jsp?id=292

[USFMikeB]

No, lower, more like $50 million (assuming the land and the malls in the other locations are equally as valuable). The package they were selling was 5 malls. so take a fifth of the $270 million price tag or thereabouts.

Except that they bought the mall in 1997 for $121 million, and expect to turn a profit.  However, I don't know if they've impaired its value since they bought it...

[JoeB]

If we purchase this land, it still will be a 'rough' neighborhood won't it?  Having football games there won't change anything, but will probably add to it I'm guessing.

[USFMikeB]

It would make certain obsessed fans to the east feel at home if we ever invited them to play! ;D

[79 Bull]

It would make certain obsessed fans to the east feel at home if we ever invited them to play! ;D

I knew this would turn into a UCF thread somehow!

[Guest]

Glimcher, the current owner of University Mall, is selling a second mall with it - and they will not split the malls.  So, if USF wants to buy University mall they will have to buy a second mall and sell it.

[Guest R_to_the_izzo]

Either way, stores have aready anounced they plan on pulling out or are already working on getting out of there. The value should be on the way down if these rumors are true.

Hopefully if a stadium is built there the area will imrpove. Homeless will need to find other areas to pan handle for money and whatnot.

[USFMikeB]

Glimcher, the current owner of University Mall, is selling a second mall with it - and they will not split the malls.  So, if USF wants to buy University mall they will have to buy a second mall and sell it.

While I don't believe that USF is looking at buying this, or should, I'm certain that Glimcher would sell it if USF made an appropriate offer.  Glimcher might want to sell them as a package, but if they can't sell them together, they'll do it separately.

[fishinBULL]

I bet USF is gonna get this land, and build the "bull pen," and well never have to worry about field paint issues ever again

Build it, and Bull Nation will come

[E.T.]

... and build the "bull pen," ...

[smiley=thumbsup.gif]