Commercial Real Estate, Capital, Insurance, Leasing & Management

Fox35: Sanford’s Seminole Towne Center Mall owes county more than $800k in property taxes

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SANFORD, Fla. – Tax records show the owners of Sanford’s Seminole Towne Center Mall owe more than $800,000 in property taxes. Experts say, for now, the mall’s financial state shouldn’t affect shoppers or any of the retailers inside.

The owners owe about $800,000 in property taxes that must be paid within about two years, or they risk losing the property. Franklin Street commercial real estate expert Terrence Hart said it probably wouldn’t come to that.

“In the short run, I think there’s an issue probably with cash flow. The mall is in a redevelopment phase. So, there’s probably a short-term issue with that could be causing this issue,” said Hart.

Read the full story here from Fox 35.

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