Broker Craig Young at CBRE Boulos said Friday morning that Schott wouldn’t be talking to the media about the listing.
“He’s a very private person,” Young said of Schott. “He’s asked us not to overly comment on it other than to confirm we are marketing the three properties and it is his intent to sell it, but his reasons why, and what he’s doing, he’s asked that we not get involved in that.”
Up for sale is:
* The Hobby Lobby Plaza, 7.8 acres anchored by the 55,000-square-foot craft store that still has space for an additional 25,000 square feet of development;
* Nobility Plaza, the name Schott has given to the 4.1-acre development beside the Auburn Mall that includes Town Fair Tire and Panera Bread; and
* Mount Auburn Plaza, a 13-acre site that includes Best Buy and Longhorn Steakhouse and has room for an additional 40,000 square feet of development.
In all, it’s eight buildings on three sites with nearly 25 acres. Young said the intention is to sell all three as a package.
The Auburn Mall is not for sale, and even with these listings, Schott will retain land around the mall to develop, Young said.
The properties were first listed two weeks ago. Young couldn’t comment on whether there had been any interest.
“(Generally speaking), the commercial real estate market is active, investment properties are generally pretty well sought after,” Young said. “Auburn is certainly a secondary market, so some of the larger players wouldn’t be interested in Auburn, Maine, because of that, but there’s certainly a number of other folks that seemingly would be.”
As for the space that can still be developed in two of the three plazas: “I think that would be part of anyone’s plan,” he said, “to continue developing when they can.”
Schott bought the Auburn Mall and property around it in 2005 after selling the Auburn Plaza just down the road. A Sun Journal story at the time said he owned a total of 42 acres around the mall.
In the decade since, he’s attracted national retailers such as Best Buy and Hobby Lobby and has worked with the city to build the new Norway Savings Bank Arena.
kskelton@sunjournal.com
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