ORLANDO, Florida. – Would you like to buy a shopping center? Orlando Fashion Square Mall has been put up for sale and is hoping to find a buyer.

The two-story, 625,000-square-foot shopping center is located on East Colonial Drive, near Orlando Executive Airport and between Downtown Orlando and Baldwin Park.

The mall opened in 1973, was sold in 2013 and ultimately foreclosed following the closures of JC Penney and Sears, two of its flagship department stores, according to the listing.

Dallas-based Edge Commercial Real Estate is handling the potential sale.

General Manager Barney McAuley told FOX 35 this is a great investment opportunity.

“Most of the time we bypass the malls that we sell and there are vacant homes and a tough economic environment. In this location you bypass the mall and there are $3 million to $5 million homes” , he declared.

There have been several plans and proposals to redevelop the property, but none have come to fruition.

The mall itself is in a unique position in that one company, Bancorp, owns the buildings and another company, Unicorp National Developments, owns the land on which the mall sits.

“If they were to sell the improvements in addition to the land we own, whoever bought them would owe us a percentage of the rent, because the original structure of the lease, which dates back well before I was born, provides that anything built there- low, they have to pay a percentage of the sales to the owner, which is us,” Chuck Whittall said.

McAuley, of Edge Commercial Real Estate, said he and his team have been upfront about the deal with potential buyers. He said there is interest in the property, although no specific company has been announced.

“It’s not that uncommon, and we’ve faced this problem in many places. We sold a mall earlier this year in Oregon where this was the case,” he said. declared.

So what would happen to the mall? All possibilities are on the table.

It is believed that whoever buys the mall will redevelop the site, likely demolishing all or most of the buildings and transforming the property into a mixed-use space, mixing housing, commercial space and stores.

“We think they will eventually give us back the keys to the property, but I’m surprised they haven’t, at this point. So we’re just watching to see. We’re happy with our investment so far “Whittall said.

FOX 35 reached out to Bancorp, but did not receive an immediate response.

So what is the asking price for the mall? McAuley declined to say.