After more than a year without a tenant, the 5,700 sq. ft. A&P on St. Georges Ave. in is slated for a foreclosure sale next week.
On Tueday, January 10, Don Shapiro of Foresite Reality Management will be holding an auction for the property, located at 789 St. Georges Ave. in the A&P Shopping Center.
The money owed to U.S. Bank National Association, which has handled the property, is $13.8 million. That includes the entire shopping center, which comprises the A&P building and a strip mall. Ironically, there are no vacancies in the strip mall.
on June 21, 2011 by the U.S. District Court.
The owner of the property is Woodbridge Realty Associates, LLC, which is in default on the property.
Originally constructed in 2000, Woodbridge Realty Associates purchased the A&P anchor store and its satellite stores, situated on a 7-1/2 acre parcel of land, five years later for $17.7 million. Since A&P closed the store in October 2005, it has been vacant.