The owners of the Ogden City Mall have hired a broker to sell the slumping facility.
CIGNA Investment Management's decision to sell the 18-year-old facility is being hailed by area business leaders and mall management."It's probably an appropriate step at this point," said Don Bruey, the assistant to Ogden Mayor Glenn Mecham. "I'm looking forward to a revitalized downtown mall. I believe there's been a track record of nonperformance, and in my mind this is the next-best step to revitalize the mall."
Some city and business officials have been critical of CIGNA's repeated promises for improvements since it acquired the mall in early 1996. The mall has about 65 tenants but more than 20 empty storefronts, and shopping traffic in the mall has dwindled in recent years.
CIGNA has hired Cushman & Wakefield, with offices in Denver, to "help in the selection of a new investment company," according to a CIGNA statement released Thursday.