A Duluth-area power center is headed back to auction, just weeks after it was supposed to sell. Auction.com is relisting Pleasant Hill Square, a 282k SF power center that's half-filled with Toys 'R' Us, Staples, and Jo-Ann Fabric & Craft Stores. According to the folks at Auction.com, the previous bid winner failed to close on the property. The new auction is slated for Oct. 26 with an opening bid of $4M. This is the second area power center that will have an auction shot: Last month, Lincoln and SRS partnered and sold Venture Pointe, a 335k SF power center a mile south of Pleasant Hill Square, to a local investor for $15.7M.
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