A long-popular shopping center with a modernistic design in Prescott, Arizona is being listed for sale for exactly $15 million.
The property went for around $10 million in a 2017 auction, although that bid was never finalized.
Opened in early 2002, the Prescott Gateway Mall is located at 3280 Gateway Boulevard on the east side of the city and is known for housing a variety of retail and commercial tenants, including the stores Famous Footwear, Mattress Firm, and the novelty goods and apparel store Spencers.
Encompassing just over 318,500 square feet, the mall includes an open-air lifestyle center, and an interior mall known for its intricate beam and exposed wood paneled ceiling. Uniquely, the mall is made up of both indoor and exterior outward-facing retail space.
Listed with the realty company BHGRE Commercial, also of Prescott, the mall comprises three separate buildings, all regarded as Class B structures.
Currently, the mall is 80% leased, down from 89% in 2020.
By Garry Boulard
