Unwanted: No bids made on Bayshore Mall

A foreclosure auction for the Bayshore Mall ended in less than two minutes Friday morning after no one placed a single bid on the long‑struggling property, sending it back to its trustee, Assured Lending Services LLC.

The minimum bid was set at $12 million, with automatic $250,000 increments - a price that immediately shut out the only attendee who had intended on bidding for the property.

"I came here to bid on Bayshore Mall," said Anil Dwivedi, a local property owner with Dwivedi Tower LLC. "I realized the minimum bidding price is even more than I want to pay for it."

He said the auction terms made a sale unlikely. "They are starting with $12 million … so they're not letting it go for less than 16," he said. "That was what I was hoping, but suddenly that's not going to happen."

A small crowd gathered on the steps of the Humboldt County Courthouse to watch the auction, but most said they were there out of curiosity. Auction host Mike Adams closed bidding after no one stepped forward.

"Bayshore Mall will go back to the Bayshore Mall trustee, Assured Lending Services Incorporated," Adams announced.

Dwivedi said he had hoped to purchase the mall for around $6 million and invest another $2–$3 million to repair the roof and revive the property as an affordable hub for small businesses.

"My purpose was to restore it completely and lower the rents, where all the small businesses can come and thrive again," he said. "I did try to look inside and I noticed that the roof is really bad… but I did not see that it would cost more than about two to three million if smartly done."

Eureka Mayor Kim Bergel, who attended the auction, said she was watching to see whether the long‑vacant mall might finally change hands.

"I was curious, more than anything, about what may or may not happen," Bergel said. "It sounds like the price is incredibly high for what the possibility might have been. Hopefully it'll come back… at a more affordable price, and people might be more willing to bid."

With no sale, the future of the Bayshore Mall - once the region's largest retail center, remains uncertain.

Maranda Vargas can be reached at 707-441-0504.

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