PROVIDENCE, R.I. (WPRI) — The lawyers running the Providence Place mall have hired a real-estate broker with the goal of putting the massive downtown shopping complex up for sale next month, Target 12 has learned.
Providence Place has been in receivership, a state-level version of bankruptcy, since the mall's lenders took legal action last October, claiming the former operator failed to make payments on a $259 million debt.
A R.I. Superior Court judge has since appointed attorneys K. Mark Russo and John Dorsey as receivers to straighten out the mall, tasked with shepherding the 1.4 million-square-foot facility out of financial uncertainty and into a stable position that might be attractive to new owners.
Russo confirmed Wednesday that they recommended hiring Chicago-based Jones Lang LaS