DeSoto Square Mall fetched a bid of $33.75 million at auction on Thursday. Rockwood Real Estate Advisors posted a listing for the mall on Auction.com and held bids over a couple days. 

The listing called for starting bids of no less than $9 million. Past 1:30pm on Thursday, the mall had attracted a bid of $13 million but the price rapidly escalated over the next couple hours, going up in increments of $250,000 or more. Around 3:30pm, a final bid of $33.75 million was put in. That bid went unanswered and the auction was closed with that as the top price. In order to make bids at all, bidders had to place a deposit of $25,000 as part of a vetting process. 

The auction closed the same day Macy's told employees at the DeSoto location that it would close that store as it opened a new location at The Matt at University Town Center, which opens in mid-October.

The mall listing, including a 58.5-acre lot and 580,325 square feet of rentable space, said the mall has a 95-percent occupancy rate and a net operating income of $4,823,208.

Mason Asset Management purchased the mall in 2012 for $25 million from Simon Property Group.