By Brandon Brown | Phoenix Business Journal
Scottsdale Fashion Square, one of the premier shopping malls in the Valley, is behind on its loan payments and working with a special servicer to avoid defaulting.
The mall, like most shopping centers in the state and the country, has been under financial stress since the outbreak of Covid-19 back in March. With indoor shopping centers forced to close for a long period during the spring and then fewer people going out and shopping since, the mall’s tenants have not been able to pay rent, and then the mall itself can’t make its mortgage payments.
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