{"id":1004764374,"date":"2025-07-09T04:04:19","date_gmt":"2025-07-09T12:04:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004764374"},"modified":"2025-07-09T07:03:28","modified_gmt":"2025-07-09T15:03:28","slug":"cbl-lands-78m-for-north-carolina-mall","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/","title":{"rendered":"CBL Lands $78M for North Carolina Mall"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004764380\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/westmoreland-mall-in-greensburg-pa\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg\" data-orig-size=\"1034,776\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Westmoreland Mall in Greensburg, Pa.\" data-image-description=\"&lt;p&gt;CBL also owns Westmoreland Mall in Greensburg, Pa. The company brought in the Cordish Cos. to redevelop an empty department store as Live! Casino Pittsburgh. Image courtesy of CBL Properties&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;CBL also owns Westmoreland Mall in Greensburg, Pa. The company brought in the Cordish Cos. to redevelop an empty department store as Live! Casino Pittsburgh. Image courtesy of CBL Properties&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg?w=1024\" alt=\"Exterior shot of Westmoreland Mall, a retail property in Greensburg, Pa.\" class=\"wp-image-1004764380\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg 1034w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Westmoreland Mall is another retail property in CBL&#8217;s portfolio, situated in Greensburg, Pa. <em>Image courtesy of CBL Properties<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Tennessee-based CBL Properties has obtained a $78 million non-recourse loan for Cross Creek Mall, a 790,582-square-foot retail property in Fayetteville, N.C. Mesirow Financial issued the note, <em>Commercial Real Estate Direct<\/em> reported.<\/p>\n\n\n\n<p>The five-year, fixed-rate CMBS loan retires the existing $81.9 million note on the property that was to mature in August 2025.<\/p>\n\n\n\n<p>Built by&nbsp;Charlotte-based developer Henry Faison, Cross Creek Mall opened in 1975 at the intersection of North Carolina Highway 401 and Morganton Road. Anchored by Belk, Macy\u2019s and JCPenney, the enclosed mall has 108 stores and a roster that includes H&amp;M, Starbucks, Bath &amp; Body Works, Claire\u2019s, Foot Locker, Longhorn Steakhouse and Victoria\u2019s Secret, among others.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>WATCH VIDEO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/lets-talk-about-retail-trends\/\">Let\u2019s Talk About Retail Trends<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Cross Creek is the only super-regional mall within a 75-mile radius, according to CBL. The property at 419 Cross Creek Mall is 5 miles from downtown Fayetteville, close to interstates 295, 95 and Bragg Boulevard. The retail center serves a population of approximately 330,000 with the average household income of $74,000, according to Placer.ai data from 2024.<\/p>\n\n\n\n<p>CBL&#8217;s current portfolio comprises 88 properties totaling 55.4 million square feet, spanning across 20 states. Of the total, 52 are enclosed malls. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-looking-to-extend-existing-debt\">Looking to extend existing debt<\/h2>\n\n\n\n<p>Since the beginning of the year, CBL has been trying to reduce the balance of its non-recourse term loan in order to unlock its two-year extension option. To that end, the firm sold two malls that served as collateral, one of them being a <a href=\"https:\/\/www.commercialsearch.com\/news\/cbl-sells-socal-mall\/\">761,000-square-foot property in El Centro, Calif<\/a>. That asset changed hands for $38.1 million in an all-cash deal, bringing the loan&#8217;s principal balance to $680.3 million. <\/p>\n\n\n\n<p>At the end of April, the debt was at\u00a0$668.3 million, which allowed CBL to access a one-year loan extension, until November 2026. The firm expects to reach a balance of $615 million by 2026, thus extending the loan to November 2027.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mesirow Financial issued the note.<\/p>\n","protected":false},"author":3619,"featured_media":1004764380,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,11,21742,21749],"tags":[33275,35826,42968],"class_list":["post-1004764374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-midatlantic","category-latest","category-retail","tag-cbl-associates-properties-inc","tag-cmbs","tag-mesirow-financial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBL Lands $78M for North Carolina Mall - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"CBL &amp; Associates Properties Inc. secured a $78 million loan for Cross Creek Mall, a 790,582-square-foot retail property in Fayetteville, N.C.\" \/>\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-lands-78m-for-north-carolina-mall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBL Lands $78M for North Carolina Mall\" \/>\n<meta property=\"og:description\" content=\"CBL &amp; Associates Properties Inc. secured a $78 million loan for Cross Creek Mall, a 790,582-square-foot retail property in Fayetteville, N.C.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/\" \/>\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=\"2025-07-09T12:04:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-09T15:03:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1034\" \/>\n\t<meta property=\"og:image:height\" content=\"776\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\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-lands-78m-for-north-carolina-mall\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/\",\"name\":\"CBL Lands $78M for North Carolina Mall - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg\",\"datePublished\":\"2025-07-09T12:04:19+00:00\",\"dateModified\":\"2025-07-09T15:03:28+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\"},\"description\":\"CBL & Associates Properties Inc. secured a $78 million loan for Cross Creek Mall, a 790,582-square-foot retail property in Fayetteville, N.C.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/Westmoreland-Mall-in-Greensburg-Pa.jpg\",\"width\":1034,\"height\":776,\"caption\":\"CBL also owns Westmoreland Mall in Greensburg, Pa. 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The company brought in the Cordish Cos. to redevelop an empty department store as Live! Casino Pittsburgh. 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