Foreclosure auction set for Independence Mall
By Tim Buckland
StarNews Staff
WILMINGTON, NC (StarNews) — A public auction will be held this month for the Independence Mall, which defaulted on a $110 million loan earlier this year.
The foreclosure sale will begin at 11 a.m. Oct. 22 and last 10 days, according to a filing in New Hanover County Superior Court.
The mall’s lienholder, JP Morgan Chase, began foreclosure proceedings in March against Centro Independence, which borrowed the money against collateral of about 500,000 square feet of mall space that includes the JC Penney anchor store, according to court documents.
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