Vegas Mall That Lost 95% of Value Might Be Just the Beginning

(Bloomberg)—The Prizm Outlets mall, about a 40-minute drive south of Las Vegas on the California border, lost 95% of its value in six months. It may not be the last mall to do so.
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Formerly known as the Fashion Outlets of Las Vegas, the Primm, Nevada mall was auctioned off on Wednesday at a final price of $1.525 million, compared with a $28.2 million appraisal in July, according to a person with knowledge of the results on commercial real estate auction site Ten-X. The buyer wasn’t disclosed.

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