The owner of Coventry Mall in North Coventry Township, in northern Chester County, is behind on mortgage payments, and the retail center is scheduled to go to auction next month.
“Coventry Mall is posted for sale and foreclosure,” said Bill Ritterling, senior general manager for Jones Lang LaSalle real estate with offices in King of Prussia, Philadelphia and Washington. “It will have no effect on the day-to-day operations of the shopping center.”
The Coventry Mall is an 804,000-square-foot property at the intersection of Route 724 and Route 100 with a mailing address of 351 W. Schuylkill Road, Pottstown.
There is space for more than 100 stores. Large anchor tenants are Boscov’s, Kohl’s, Dick’s Sporting Goods and Ross Dress for Less.
Space occupied by a former anchor tenant Sears remains empty since the store closed at that location in 2012.
“It’s posted for sale at $62,406,171 [and] Jones Lang LaSalle will continue to manage the center,” Ritterling said, adding that the sale at auction scheduled for Sept. 19 was ordered to pay off creditors.
According to court documents, mall owner Coventry Retail notified U.S. Bank National Association that it could not make loan payments April 1 of this year.
The mall was built in 1967 about 40 miles east of Philadelphia. The stores inside are expected to be open to customers throughout the scheduled sale.
“There are no anticipated changes to the property at this time,” Ritterling said. “The community can rest assured that Coventry Mall will continue to be open for business as usual.”
Those with claims against the property should contact the Wayne-based law firm of Dinsmore and Shohl LLP before the sale date.
According to Ritterling, those interested in purchasing the property should call Richard O’Halloran at 610-408-6020.