The shopping mall, consisting of 191,038 square feet of retail space on 21.58 acres, was built in 1985. Often used as a hub of community activity in Dyersburg, the Dyersburg Mall has long been slated as a draw for Missouri shoppers from across the Mississippi River.
The property is listed on www.auction.com as item B092-250. Bidding began on Tuesday, Nov. 13, with the auction scheduled to continue through Thursday, Nov. 15.
A starting bid of $2.2 million was requested. At press time, the current bid was for that amount, with a $25,000 bid deposit required.
Sandy Hearron of the Mattiace Company said putting the property on the auction block is an effort by the landlords to stabilize the future of the mall.
Hearron said officials with the Mattiace Company, one of the oldest third-party management and brokerage firms in the state of Mississippi, have every intention of the Dyersburg Mall being a success for the winning bidder.
Hearron said company officials like the Dyersburg community, but cite the economic downturn of the past few years and its effect on rural communities like Dyer County and the retail environment as a whole as the reason for the auction.