The Real Deal Miami

Palm Beach Mall now has receiver

June 09, 2009 04:27PM

A Palm Beach County Circuit Court judge has appointed a caretaker to oversee the Palm Beach Mall, which is in the middle of a foreclosure lawsuit. Several tenants have left the mall as the number of customers has declined. Florida Power & Light threatened to shut off power to the mall May 1 because the power and water bills had not been paid; they were paid by owner Simon Property Group at the last minute. Receiver Chuck Taylor, senior vice president of Washington-based real estate investment firm Madison Marquette, will ensure that the mall’s bills are paid and may bring new tenants to the space.