TRAVERSE CITY — A bank again adjourned a proposed sheriff's sale for the first major shopping mall developed in the Traverse City area.
Wells Fargo Bank N.A. owns the $9.2 million defaulted mortgage on Cherryland Center mall in Garfield Township, and a sale that was set to take place Tuesday cannot occur until Aug. 18 at the earliest, a sheriff's department official said. The property originally was scheduled for sheriff's auction on May 19.
Schostak Brothers & Co. of Livonia owned the property. The company previously said it was unable to reach an agreement with the bank to restructure site debt.
Neither representatives of Schostak or Wells Fargo returned calls seeking comment.






