Roanoke Times writer Jeff Sturgeon reports this morning that Wells Fargo has found a potential buyer for the troubled First & Main shopping center in Blacksburg.
A bank spokeswoman told Sturgeon they hope to close on the sale by the end of the month. She declined to identify the potential buyer.
The shopping center has struggled since its 2008 opening. The town of Blacksburg won a court battle to keep Walmart from building there, and a planned movie theater was never built.
Last year saw the closings of Books-A-Million, Rack Room Shoes, gifts and collectibles shop Steger Creek, Maggie Moo’s Ice Cream and Treatery, and Elderberry’s Smoothies & Wraps.
At least three new tenants, children’s clothing store Piccolini, Mexican restaurant El Rodeo, and the gym Anytime Fitness, opened at the shopping center last year.
Wells Fargo took control of the property in 2010 and hired The Rappaport Companies to manage it. A Wells Fargo spokeswoman said late last year that the bank would likely put the property on the market the beginning of this year.
Do you think a new owner will help the shopping center?