REAL ESTATE

Atlanta — CBL & Associates Properties has closed the sale of Lakeshore Mall to a private investor for $14 million. JLL brokered the transaction.

Belk, Bealls, Kmart, J.C. Penney and Carmike Cinema anchor the 490,086-sq.-ft. retail center in Sebring, Florida. A nearby Sears is a shadow anchor.

With its 95% occupancy rate, Lakeshore Mall anchors the retail hub that serves central Florida along U.S. Highway 27, the major north-south thoroughfare. Traffic counts average about 38,500 vehicles per day.

Milford, Ohio — Slate Properties has acquired Mulberry Square in Milford, Ohio, part of the greater Cincinnati metropolitan area. Slate paid $15.6 million for the 146,730-sq.-ft. community center, which is anchored by Kroger, Petco and Planet Fitness. Inline tenants include Steak and Shake, Hallmark, H&R Block, GNC and The UPS Store.

Mid-America Real Estate Corp. in cooperation with NAI Bergman represented the seller, a private real estate investment firm, in the transaction.

Woodland Hills, Calif. — NewMark Merrill Companies has announced that Heather Danko and Danielle Bovard have received the Certified Marketing Director designation from the International Council of Shopping Centers.

The CMD designation is awarded for expertise in multiple disciplines including marketing management, research, marketing plan implementation, public and community relations, advertising, and media buying.

Westminster, Colo. — The Westminster Economic Development Authority and the city of Westminster, Colorado, have entered into an agreement with OliverMcMillan to redevelop the 105-acre site of the former Westminster Mall.

Niagara Falls, N.Y. — Macerich has announced plans to renovate and expand Fashion Outlets of Niagara Falls USA. The project will add nearly 175,000 sq. ft. of retail and bring in 50 new tenants. With approximately 700,000 sq. ft. of top designer brand retailers, the expanded center will be one of the largest outlet malls in the country.

New retailers will include Disney, Forever 21, Helly Hansen, Kenneth Cole, Steve Madden, Swarovski, the Limited, White House|Black Market and others. To date, 77% of the expansion has been leased.

Boston -- Gordon Brothers Group and Hilco Merchant Resources have, effective May 8, launched the total liquidation of Coldwater Creek brick-and-mortar stores and its website.

The joint-venture team is conducting closing sales at all Coldwater Creek stores and online, offering 30% to 50% off all items.

New York -- There are more store closings in Sears’ future. In an address at Sears Holding Corp.’s annual shareholders meeting, chairman and CEO Edward Lampert said the company would close stores and look for ways to leverage its real estate as it continues to focus on integrated omnichannel retail and its Shop Your Way rewards program.

"Closing stores is going to be part of our future," Lampert said. "I'd rather do (fewer closures) rather than more, but the world has shifted."

Lyndhurst, N.J. -- Citizen Watch Company, a leader in the mid-priced watch segment, will will a global flagship store in Times Square, New York, on Broadway in November. This will be the first Citizen Watch global retail concept store in North America.

The store will measure more than 1,300 sq. ft. and offer the full Citizen product assortment. Citizen has hired New York based architectural firm Mapos LLC.