Midway Plaza is now for sale after the 66-year-old mall’s recent partial condemnation – and the town of Tallmadge has agreed to postpone a key deadline for the property to next year.

Following: Summit County Condemns Half of Midway Plaza; The future of the Tallmadge shopping center is still unknown

There is no fixed asking price yet, according to Ed Matzules, vice president of Colliers International Real Estate who was approached two weeks ago to try to sell the 18.5-acre property. The price would take into account the value of the land, the developer’s interest in keeping the building, potential demolition costs, and current tenants and their leases, he said.

The property is currently owned by Namdar Realty Group and its retail partner Mason Asset Management, both located in Great Neck, New York. Namdar declined to comment on the planned sale.

Following: Tallmadge issues code violations to Midway owners, contemplates the future of the property

Local history: The future looked bright when Midway Plaza debuted in December 1955

Matzules is working on the sale with Colliers colleagues Jon Caiazza and Cori Voltz.

“We’re having a meeting with the town of Tallmadge on Wednesday because we want to make sure we’re all on the same page, and we’ll most likely be looking for developers who will redevelop the property,” said Matzules, who negotiated the deal. Akron’s Chapel Hill Mall sale to Solon-based industrial commercial properties earlier this year.

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Matzules is also trying to sell the two-year-abandoned Akron Baptist Temple and is working on selling and renting other Mason properties in Elyria.

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Matzules said the Tallmadge property could be rehabilitated to address the many structural and visual issues or could be razed.

“It depends on what the developers decide on economic logic. The big advantage is that there are 18 acres, so it’s set up for a nice project,” Matzules said.

Tallmadge Mayor David Kline said he hoped Colliers would sell the property and the new owners “would take care of the maintenance issues out of the property.” development there. ”

Namdar has requested and obtained an extension of the time limit for the sentencing order until January 15, Tallmadge legal director Megan Raber said.

“The owner of the property is communicating with the city and the county building department regarding the reclamation of the property,” she said. “Ultimately, the issues will have to be resolved, whether by the current owner or the new owner, if the property is sold.”

Journalist Krista S. Kano can be reached at 330-541-9416, [email protected] or on Twitter @KristaKanoABJ.