PLANTATION FASHION MALL GOES INTO BANKRUPTCY AGAIN
Here we go again! I promised another update on this when it came around and I am a man of my word. These guys just filed for bankruptcy again, this time Chapter 7. It really seems like the property will finally go to auction, 10 years after it was bought. Why do I care about this property? It interests me for many reasons. It is one of the best locations in Plantation, and will certainly be successful if the right people are in place to redevelop it. It was all set to become apartments, retail and office space and I think that is what will eventually happen to this site. Part of the problems with this site was that it was owned by the Chinese Government. They had the right idea, to buy and develop a site in a prime location but never had the expertise to carry it out. They brought in brokerage companies, their own people, and other partners. But a combination of ineptitude, corruption, lack of trust in American companies and poor judgment finally brought them down. It just shows that having money is not everything, especially when it comes to real estate. Redeveloping a property, especially one of this size with multiple uses is no easy task for anyone, even more so for people from another country and with no experience. This prime site has been on sidelines but should attract an enormous amount of attention when it goes to auction. I can’t wait to see who gets it and what they do with it. This is a very good thing for the city of Plantation! While this is more than likely the end of the story for the property, there still could be legal issues, criminal cases and lawsuits, remaining. If there is any additional news on that I will provide it but let’s all hope this is the last we have heard on this one. Next we will be talking about the new owner and their plans for the property, something I have been looking forward to for a long time. As always thanks for reading and have a great day.
Fashion Mall developer seeks bankruptcy liquidation
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