Popular Maine Outlet Mall Up For Auction Following Recent Foreclosure of Property

We're fortunate in Maine to have an array of different shopping malls, outlets and marketplaces to shop at. However, sometimes those plazas fall victim to the wheels of progress and online shopping trends.

Sadly, that has happened at one of Maine's most popular outlet malls. Locals and tourists alike have loved the shopping in downtown Freeport for years. Not just at the flagship L.L. Bean store, but also across the street at the outlet mall, otherwise known as Freeport Village Station.

Now, due to a recent foreclosure, that property is going up for auction.

According to an article published by WGME 13, Freeport Village Station, which is home to stores like Old Navy, Oshkosh and others, will be hitting the auction block very soon.

The foreclosure, which wasn't necessarily due to a down-trend in shopping, was rather caused by the developers, Berenson of Boston, being in breach of their contract. However, at this time, we're not sure which part or parts of the contract were breached.

The shopping plaza, which is a whopping 3.5 acres in size, is said to be valued at more than $32 million.

The property will be headed to auction later today at 1pm. The auction is open to the public if any of our readers are interested in owning their own outlet property.

The good news here is that there's no indication that any of the actual businesses inside the plaza are struggling. This would seemingly mean that as long as another person or entity purchases the property, and want to keep the stores there, that business should continue booming for downtown Freeport.