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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. -
Bebe shrinks net loss in Q3
Brisbane, Calif. – Bebe Stores Inc. reported a net loss of $24.3 million in the third quarter of fiscal 2014, an improvement from the net loss of $49.3 million recorded in the same quarter a year earlier.
However, net sales were $93.5 million, a decrease of 17.2% from $112.9 million for the third quarter a year ago.
Same-store sales for the quarter decreased 5.7%.