South Dakota-based company purchased the site at auction last month
KCJJ Staff
02/17/19
A major part of the Coral Ridge Mall has been sold, though its future use is still unknown.
Coralville Shores LLC – a subsidiary of South Dakota-based Furniture Mart USA – bought the Younkers building on the south side of the Coral Ridge Mall at an auction last month. Bon-Ton USA, Younkers’ parent company based in York, Penn., sold the roughly 98,000-square foot space for $2 million as part of bankruptcy proceedings.
The store had closed last August.
But what Coralville Shores plans to do with the large space has not yet been released. The store is located inside an “opportunity zone,” a federal program created last year to rehab manufacturing and retail areas. Being in one of those zones allows for possible tax benefits for anyone who buys a space inside the zone.
Furniture Mart – through its various subsidiaries – has stores in six states, including multiple locations in Iowa.