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CBL sells Belk-anchored Florida center


CBL has sold Cobblestone Village, ad 96,891-sq.-ft. center in Palm Coast, Florida, to RCG Ventures, a privately funded real estate investment group. The selling price was not disclosed.

The Belk-anchored center is a quarter-mile from the Interstate 95 interchange and is adjacent to Lowe’s and Walmart. It was “highly sought after by a variety of institutional and private investors,” said John Crossman, president of Crossman & Company, which handled the sale on behalf of CBL.

RCG executive Scott Tarbet said that Cobblestone Village fits with the company’s current strategy of acquiring well-positioned assets in healthy secondary and tertiary markets.

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