North Grand Mall to be sold at sheriff’s auction June 9


The North Grand Mall in Ames.

Daniel Baldus

Ames’ own North Grand Mall will be up for sale at a sheriff’s auction on June 9 following the failure of its owners to pay mortgages, according to the Story County District Court.

North Grand Mall Partners, LLC. has been in default since it was unable to pay its dues from mortgages starting in July 2014. The mall’s operations will continue under different ownership despite the defaulting of its parent company.

The mall’s current owners, Gk Development Inc, declined to comment. The company is directing questions about the development and sale of the mall to NAI Optimum, a company temporarily maintaining the business until it is sold to a new owner.

NAI Optimum President Kurt Mumm expressed enthusiasm over the mall, which is turning profits for businesses despite its fluctuating ownership.

“It’s a great mall and it is doing very well,” Munn said.

Businesses located inside the mall have received a 30-day notice that the mall’s ownership is changing hands, but the change has not deterred any businesses from continuing to operate. Some, like restaurant staple Flame & Skewer, have been located at North Grand since its opening day.

The roster of businesses at North Grand Mall has continued to expand since the Ames City Council approved plans for redevelopment in January of 2012. Those plans included the merging of a space once owned by Wells Fargo into the North Grand Mall, and added 68,000 square feet to the size of the mall.

The mall’s history is not without its losses, however. In 2014, the Cinemark North Grand 5 movie theater closed its doors after 13 years of operation.