Developer to purchase Upper Valley Mall site

Clark County officials have identified a buyer for the Upper Valley Mall, which is set to close this month.

Ohio-based developer Industrial Commercial Properties has agreed to purchase the property for $2.25 million, according to a Wednesday news release from Clark County officials.

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The property is currently owned by the Clark County Land Reutilization Corp.

The Board of Clark County Commissioners backed a $3 million loan in 2018 to allow the Clark County Land Reutilization Corp., also known as the land bank, to purchase the property.

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The land bank has operated the property and mall since then and has looked for a prospective developer to invest in the property.

Industrial Commercial Properties is expected to take ownership of the 76.8 acre property as well as the 811,000 square-foot Upper Valley Mall by the fall of this year.

Representatives of the development company said they plan on converting the mall to be used as a business park.

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