LANCASTER, Pa. (WHTM) – The Rockvale Outlets on Route 30 in East Lampeter Township are looking for a financial lifeboat.
Lancaster Online reports the shopping center defaulted on its $92-millon mortgage and there are talks it could be sold.
“I don’t know who is going to take them over,” said Dan Baumstead, who was shopping near the outlets. “You can see they lost a lot of stores in there.”
Realty experts said the money troubles for one the counties oldest outlet complexes are another example of how brick and mortar stores are struggling to compete against online shopping.
It’s a different story just down the road. The Tanger Outlets, a major competitor, are getting ready for a robust expansion.
Not making the news any better is that Rockvale Outlets were transferred to CWCapital Asset Management, which often puts properties up for sale.
“We’re at step two and that’s step 45 down the road,” said Joel Cliff, a spokesman for Discover Lancaster.
Cliff said there are buses of shoppers who continue to make Rockvale a destination. He said the outlets still figure into their marketing strategy.
“I suspect with the infrastructure that’s there and some of the other things going forth that hopefully it can be continued a shopping element that’s there,” Cliff said.
Rockvale Outlets representatives did not respond to calls and CWCapital Asset Management did not comment.