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Gulf Coast Town Center hitting the auction block

Posted at 8:25 AM, May 18, 2016
and last updated 2016-05-18 08:25:38-04

LEE COUNTY, Fla. -- One of Southwest Florida's most popular shopping and dining destinations is up for sale on the auction block.  Gulf Coast Town Center in Estero could be getting a new owner some time Wednesday.

This is the largest stand-alone foreclosure in Lee County history, at $212 million.

The mall's popularity isn't enough success after Wells Fargo sued the mall's owner for defaulting on their $191 million loan.  With over 100 stores, this mall brings in big business with shops like Bass Pro, Super Target, and plenty of restaurants.

Now the question is, do investors see potential for this mall or as a lucrative business opportunity going forward?

The mall's foreclosure does not mean some of your favorite shops and restaurants will shut down, just that its owners will change.

It goes up for auction online Wednesday morning at 9 am.