A Pennsylvania shopping mall once valued at nearly 200 million dollars and is now in foreclosure, was purchased Wednesday by the company that holds the debt on the mall.

According to KDKA-CBS TV, the Pittsburgh Mills Mall opened in 2005, but had dropped in value and was recently appraised at only $11 million and was less than half occupied with stores. The mall is located about 20 miles Northeast of Pittsburgh, and was foreclosed on.

Wells Fargo held the note for the the Pittsburgh Mills Limited Partnership for $143 million, and they were the only bidder. Some reports indicate they will try to revive the facility, but the company has not issued any statement.

The purchase now makes Wells Fargo the sole owner of the property.


More From 870 AM KFLD