{"id":1004148598,"date":"2016-07-26T02:35:32","date_gmt":"2016-07-26T10:35:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004148598"},"modified":"2020-05-18T23:33:37","modified_gmt":"2020-05-19T07:33:37","slug":"cbl-closes-67m-michigan-retail-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbl-closes-67m-michigan-retail-sale\/","title":{"rendered":"CBL Closes $67M Michigan Retail Sale"},"content":{"rendered":"

By Ioana Neamt<\/em><\/p>\n

\"Fashion<\/a>

Fashion Square Mall, Saginaw, Mich.<\/p><\/div>\n

Saginaw and Muskegon, Mich.<\/strong>\u2014CBL & Associates Properties<\/a> has recently closed on the $66.5 million sale of two shopping malls<\/a> in Michigan. The assets were sold to an undisclosed buyer.<\/p>\n

The Fashion Square Mall located in Saginaw, Mich., features more than 100 tenants, including anchors JCPenney, Macy\u2019s and Sears. The mall first opened its doors to shoppers back in 1972, and was acquired by CBL in 2000. The retail sale included the assumption of a $38.2 million loan secured by Fashion Square.<\/p>\n

The Lakes Mall in Muskegon, Mich., opened in 2001 and features more than 60 retailers. The 645,677-square-foot mall is currently anchored by Bed Bath & Beyond, Dick\u2019s Sporting Goods, JCPenney, Sears and Younkers.<\/p>\n

\u201cThis disposition marks another milestone achievement for CBL, having now completed transactions on 11 lower-productivity regional malls since introducing out portfolio transformation strategy in April 2014,\u201d Stephen Lebovitz, president & CEO at CBL, said in a statement. \u201cOver the past two years, we have completed more than $765 million in transactions, including approximately $460 million from regional malls and more than $305 million from selling community centers and other non-core assets.\u201d<\/p>\n

Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The two shopping malls, located in Saginaw and Muskegon, Mich., were sold to a private buyer at a hefty price.<\/p>\n","protected":false},"author":192,"featured_media":1004148599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,13,21742,21749],"tags":[],"class_list":["post-1004148598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midwest","category-latest","category-retail"],"acf":[],"yoast_head":"\nCBL Closes $67M Michigan Retail Sale - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbl-closes-67m-michigan-retail-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBL Closes $67M Michigan Retail Sale\" \/>\n<meta property=\"og:description\" content=\"The two shopping malls, located in Saginaw and Muskegon, Mich., were sold to a private buyer at a hefty price.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbl-closes-67m-michigan-retail-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-26T10:35:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T07:33:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/fsquare.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1267\" \/>\n\t<meta property=\"og:image:height\" content=\"676\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbl-closes-67m-michigan-retail-sale\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbl-closes-67m-michigan-retail-sale\/\",\"name\":\"CBL Closes $67M Michigan Retail Sale - 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