Century III Mall Sheriff's Sale Delayed Yet Again

PITTSBURGH, PA - The oft-delayed sheriff’s sale of the struggling Century III Mall has been delayed again. Scheduled for Tuesday, the sale was postponed after mall owners Moonbeam Capital Investments filed for bankruptcy, WPXI-TV reported.

The new sale date is Dec. 3.

The massive Century III, which has three levels and 1.2 million square feet of retail space, opened in 1979 and was packed during its heyday in the 1980s.

But Century III fell on hard times and was purchased in 2013 by the Las Vegas-based Moonbeam for just $10.5 million. Moonbeam pledged to fill the mall with more national chain stores and restaurants, add a state-of-the-art movie theater with stadium seating and have more out-parcels.

Two years later, a plan to dramatically reconfigure the mall surfaced on Moonbeam's website. The proposal called for converting the mall into more of an outdoor complex and adding a theater, hotel and medical offices. But the plan abruptly was pulled from the site and Moonbeam officials haven't discussed their intentions since.

The mall has lost anchors Sears and Macy's in recent years and most of its smaller storefronts are empty. The Century III Mall website lists just 15 retailers still operating there, down from 17 in July.

Photo: Eric Heyl/Patch staff.

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