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CBL closes sale of three malls for $176 million
Chattanooga, Tenn. — CBL & Associates Properties has closed on the sale of three malls and three related associated centers in a portfolio transaction for a gross sale price of $176 million in cash. The properties include Georgia Square Mall and Georgia Square Plaza in Athens, Ga.; Panama City Mall and The Shoppes at Panama City in Panama City, Fla.; and Rivergate Mall and Village at Rivergate in Nashville, Tenn.
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NRDC signs three tenants at Pohatcong Plaza
Purchase, N.Y. — Hobby Lobby, Marshall’s and Home Goods have leased more than 98,000 sq. ft. of space at 562,000-sq.-ft. Pohatcong Plaza power center in Phillipsburg, N.J., according to National Realty & Development Corp.
The retailers will occupy a redeveloped building where Wal-Mart operated before expanding to a Supercenter early last year — in NRDC’s adjoining Pohatcong Plaza II.