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Fort Steubnen Mall likely headed toward a sheriff’s sale

STEUBENVILLE — The Fort Steuben Mall is heading toward a sheriff’s sale.

Jefferson County Common Pleas Judge Michelle Miller last week gave the lender, Total Finance Inc., the go-ahead to proceed with foreclosing on the mall’s listed owner, Fort Steuben Mall Holdings, for non-repayment of a $6.4 million note.

Fort Steuben Mall Holdings, an Ohio limited liability company, purchased the mall in 2022 for $11 million. North Carolina-based Flamengos Investments is the sole member of Fort Steuben Mall Holdings.

Total Finance, based in Meridian, Mississippi, said the mall property was pledged by Fort Steuben Mall Holdings as security for a $6,427,275 note, which matured and was payable in full, with interest, exactly one year later — June 3, 2023.

The lender said that other than a $35,244 insurance recovery that was applied to the unpaid balance, Fort Steuben Holdings “failed to make any payments on the note.” With late fees and interest, Total Finance says that debt has swelled to more than $8,119,916.

Total Finance attorney Hal D. Coffey of Clark Hill, Pittsburgh, said only that his client “has plans to improve the mall property and expand businesses in the mall as soon as it has obtained final possession through the sheriff sale process.”

When that will happen remains to be seen: Before it can go on the block a valuation must be done to set the minimum bid, and there’s no word yet on when that will be done and the sale scheduled.

County officials, however, stressed that the 7Ranges space and the retail space formerly occupied by Macy’s are both owned by other entities (2021 Entertainment LLC — 7Ranges) and 100 Mall Ohio LLC (the former Macy’s space) and thus are not impacted by the pending proceedings.

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