Havre Holiday Village Shopping Center again up for sale

Less than a year after the Havre Holiday Village Mall was sold, the mall is once again up for sale in an auction, according to Catalyst Commercial Properties Agent Ryan Pachek, who is listed as the realtor for the sale, but he was unable to provide more information because he had to attend a meeting this morning.

Holiday Village Mall General Manager Michael Liese said that the sale is not expected to impact the operations of the mall.

“We hope to find a buyer that can give the center the needed attention it deserves and restore it to a vibrant retail destination for the community,” he said. “There are no anticipated changes to the property at this time and expect a smooth transition to the new ownership and expect the center to serve the community as a viable shopping destination.”

The auction will begin Monday, according http://loopnet.com and http://ten-x.com , two websites that have posted the auction.

The Holiday Village Mall is listed with a starting bid of $250,000, with the participating deposit set at $5,000.

The websites both list the Holiday Village Mall as having about 230,430 square foot of space and having 40 leasable units, with a 53 percent occupancy.

The Ten-X post added that the mall also has “value-added opportunity through stabilization.”

Last year, the Holiday Village Mall lost two of its anchor stores, with both the Sears and the Herberger stores permanently closing their doors last summer.

That was followed early this year with the announcement that its final anchor store, North 40 Outfitters, also was leaving the mall.

North 40 announced Wednesday that it plans to open at its new location — the former Havre Kmart on U.S. Highway 2 — by the end of the year.

A notice published last fall said the Holiday Village would be sold in a public auction Dec. 4, 2018, one of 27 Security National Properties pieces being auctioned off across the county.

The public auction was later moved to January, but the auction of the Havre property was canceled and it was sold privately to a private lender that hired Jones Lang LaSalle Americas Inc. to manage the property on its behalf.

Jones Lang LaSalle is a global company that buys, builds, occupies and invests in a variety of assets including industrial, commercial, retail, residential and hotel real estate.

It is selling the mall now on behalf of the lender that bought the mall.