ELYRIA, Ohio (WOIO) - A deal to purchase Midway Mall has been canceled, the Lorain County Port Authority announced Tuesday.

Officials said the prospective buyer, Industrial Commercial Properties LLC, backed away from buying the property.

PREVIOUS COVERAGE: Midway Mall to become business park, Lorain County Port Authority decides

Plans to convert the mall into a business park are now at a standstill.

The Port Authority said it still hopes to redevelop the mall.

“We appreciate the professionalism that ICP demonstrated throughout these many months... While this outcome is not what any of us hoped for, we respect their internal business decision and wish them well moving forward.”

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