CLARK COUNTY — After a loss of anchor tenants over the last decade, the Upper Valley Mall, a staple in the Clark County community that opened in 1971, will close to the public Wednesday.
The decision was made by the owners of the property, the Clark County commissioners and the Clark County Land Reutilization Corp., a spokesperson for the county said in a release.
The Clark County Land Reutilization Corp. purchased the mall’s property in 2018, after getting a $3 million loan to make the purchase and operated the facility as it searched for a prospective developer to “breathe new life into the property,” the release said.
The mall will now be sold to an Ohio-based developer that agreed to purchase the property for $2.25 million.
After completing due diligence testing, Industrial Commercial Properties (ICP), is expected to take ownership of the property with plans to convert it into a business park, the release said.
“ICP has a proven track record of re-purposing properties like this. We look forward to working with them to create great economic opportunities in Clark County,” said Clark County Land Reutilization Corp. Executive Director Ethan Harris.
The release stated that ICP is expected to take ownership in the fall of 2021.
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