A lot of people are noticing that roads around Southland Mall are in a state of disrepair. One caller to the paper said his car’s alignment was knocked out of whack by a huge pothole, and at a council meeting last week, Councilwoman Barbara Halliday asked city staff to talk with General Growth Properties — which owns the mall and the adjacent roads — about fixing the cracked, pitted asphalt.
Could be a symptom of a larger problem. Business writer George Avalos wrote a story about GGP in Monday’s Business section. The company is in the hole for billions of dollars after a rapid expansion. A loan recently came due on Southland, meaning the lender could take possession of the property if GGP doesn’t pay up.
“We are still in possession of Southland Mall,” said the GGP spokesman. “It has not been seized. We continue to lease it. We’re continuing to sign deals. It’s business as usual.”