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CBL sells Lakeshore Mall
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. -
Sears planning to close more stores going forward
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."