Springfield Mall is worth a fraction of what it once was.
The Delaware County shopping center has been appraised at just $30 million, a staggering 73 percent collapse from the $112 million valuation it carried in 2015, when owners PREIT and Simon Property Group originated their loan, Noah Zucker reports for BisNow.
The mall at 1250 Baltimore Pike is now worth far less than the $52.4 million still owed on its fixed-rate loan, leaving the property underwater by more than $22 million…