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The mall, opened in 1985 along Rt. 22 at the Pohatcong-Lopatcong border,, has lost key anchor stores J.C. Penney, Sears and Bon-Ton in recent years. The property's assessed value has dropped by about $5 million since last year, to $24 million.
Kohl's and an antiques store are still located at the mall.
Elliot Nassim, president of Mason Asset Management, said the company was initially going to try to redevelop the site but is now looking for third parties to take over the 577,000-square-foot property.
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