Owners of struggling NJ mall looking at 'all possible uses'

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PHILIPPSBURG (AP) - The owners of a struggling New Jersey mall say they're looking at “all possible uses" for the property, which has lost several anchor stores in recent years.

The president of Mason Asset Management, Elliot Nassim, told lehighvalleylive.com last week that there’s been interest from potential buyers. But he says there's no firm deal and there's no timeline in place until all active leases at the mall have expired.

Mason Asset Management and Namdar Realty Group bought the 577,000-square-foot mall in 2013 for $11.5 million, but J.C. Penney closed the following year.

The mall has since lost anchor stores Sears and The Bon-Ton.

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