The owner of the Pines Mall has hired a private auction company to try and sell the property and has already turned down one offer, a Pine Bluff city official said Wednesday.

The official confirmed that the Mall is still owned by Judy Vu, rather than a bank as was initially reported.

Vu is reportedly asking for $16 million for the mall property, down from the $18 million she initially sought.

The city official also told Deltaplex News that Vu rejected an offer of $4 million recently.

The new auction is scheduled for June 20 to June 23 and will be conducted online.