{"id":1004765797,"date":"2025-07-22T03:20:50","date_gmt":"2025-07-22T11:20:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004765797"},"modified":"2025-07-22T05:38:56","modified_gmt":"2025-07-22T13:38:56","slug":"cbl-sells-mississippi-retail-center-for-83m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbl-sells-mississippi-retail-center-for-83m\/","title":{"rendered":"CBL Sells Mississippi Retail Center for $83M"},"content":{"rendered":"\n<p>CBL Properties has sold The Promenade, a 621,000-square-foot open-air retail center in D\u2019Iberville, Miss. The asset changed hands for $83.1 million in an all-cash transaction, at an 8.5 percent cap rate.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/EXT_3_RETOUCHED.jpg\" target=\"_blank\" rel=\" noreferrer noopener\"><img decoding=\"async\" data-attachment-id=\"1004637205\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/retail-property-redevelopment-strategies\/ext_3_retouched\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/EXT_3_RETOUCHED-e1753182277216.jpg\" data-orig-size=\"1033,775\" 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\" data-image-description=\"&lt;p&gt;To revitalize Westmoreland Mall in Greensburg, Pa., CBL Properties brought in the Cordish Cos. to redevelop an empty department store as Live! Casino Pittsburgh. Photo courtesy of CBL Properties&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;To revitalize Westmoreland Mall in Greensburg, Pa., CBL Properties brought in the Cordish Cos. to redevelop an empty department store as Live! Casino Pittsburgh. Photo courtesy of CBL Properties&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/EXT_3_RETOUCHED-e1753182277216.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/EXT_3_RETOUCHED.jpg\" alt=\"An image of Westmoreland Mall in Greensburg, Pa.\" class=\"wp-image-1004637205\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">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. <em>Image courtesy of CBL Properties<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Built by CBL in partnership with Forum Development, The Promenade opened in 2009. Its tenant roster features a diverse mix of regional and national retailers such as Target, Best Buy, Chick-fil-A, PetSmart, Dick&#8217;s Sporting Goods, Newk&#8217;s Express Cafe, Marshalls, Old Navy, Michael&#8217;s, rue21, ULTA, Olive Garden, Buffalo Wild Wings and Bath &amp; Body Works, among others.<\/p>\n\n\n\n<p>Located at 3821 Promenade Parkway, the open-air shopping center is near the intersection of interstates 10 and 110, in an area where the daily traffic count reaches approximately 100,000 vehicles. The Promenade has almost 8.2 million visitors annually, according to CBL.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-comprehensive-portfolio\">A comprehensive portfolio<\/h2>\n\n\n\n<p>CBL currently owns and manages 87 properties across 20 states, totaling 53.9 million square feet. They include 52 enclosed malls, outlet centers and lifestyle retail centers, along with over 30 open-air centers and other assets. The company continues to manage and invest in its portfolio through leasing and reinvestment strategies that align with the current <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">retail industry trends<\/a>.<\/p>\n\n\n\n<p>This month, CBL obtained a <a href=\"https:\/\/www.commercialsearch.com\/news\/cbl-lands-78m-for-north-carolina-mall\/\">$78 million non-recourse loan<\/a> for a 790,582-square-foot property in Fayetteville, N.C. Completed in 2005, Cross Creek is the only super-regional mall within a 75-mile radius.<\/p>\n\n\n\n<p>At the beginning of the year, the Tennessee-based\u00a0company <a href=\"https:\/\/www.commercialsearch.com\/news\/cbl-sells-socal-mall\/\">sold Imperial Valley Mall<\/a> in El Centro, Calif., for $38.1 million, also in an all-cash deal. The property served as collateral for the firm\u2019s non-recourse term loan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The open-air center changed hands in an all-cash transaction.<\/p>\n","protected":false},"author":3014,"featured_media":1004637205,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,32781],"tags":[33275],"class_list":["post-1004765797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-southeast","tag-cbl-associates-properties-inc"],"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 Sells Mississippi Retail Center for $83M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"CBL Properties has sold The Promenade, a 621,000-square-foot open-air center located in D\u2019Iberville, Miss., for $83.1 million.\" \/>\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-sells-mississippi-retail-center-for-83m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBL Sells Mississippi Retail Center for $83M\" \/>\n<meta property=\"og:description\" content=\"CBL Properties has sold The Promenade, a 621,000-square-foot open-air center located in D\u2019Iberville, Miss., for $83.1 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbl-sells-mississippi-retail-center-for-83m\/\" \/>\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=\"2025-07-22T11:20:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-22T13:38:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/EXT_3_RETOUCHED-e1753182277216.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1033\" \/>\n\t<meta property=\"og:image:height\" content=\"775\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\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-sells-mississippi-retail-center-for-83m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbl-sells-mississippi-retail-center-for-83m\/\",\"name\":\"CBL Sells Mississippi Retail Center for $83M - 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