Sale at the Mall? No, Mall for Sale!

Woodbury Lakes, an upscale shopping center that opened five years ago but stumbled into foreclosure due to the economy, will go up for sale on March 15. Investors could find a bargain. The Woodbury real estate along Interstate 94 east of Radio Drive has a lot of potential, despite its recent troubles.

Whoever buys the property might do well to make it over from its high-end "lifestyle center" concept into a shopping area that might draw consumers with more moderate incomes from a broader area, said Jim McComb, a Minneapolis real estate and retail consultant.

There is no set price tag for the 50-acre property in Woodbury. That will be negotiated when a buyer emerges.

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