Cary Shopping Centers

CBL & Associates Properties, Inc. today launched that it has actually closed in the purchase of a mall in western North Carolina, among almost two dozen retail properties the Chattanooga-based development firm has or intends to sell included in its want to lower debt and focus on its most useful performing centers.

CBL said it sold Waynesville Commons, a 128, 000-square-foot neighborhood center based in Waynesville, N.C., for $14.5 million to a joint venture partner of Yale Realty providers Corp.

"We are very happy to make extra progress on our announced neighborhood center and non-core personality system, " Stephen D. Lebovitz, CBL's president and ceo said in a statement these days. "because of the powerful need for top-notch neighborhood and energy facilities, opening this fluid marketplace provides us with an attractively listed supply of equity for deleveraging. We look forward to announcing extra development in the near future."

CBL is just one of the largest and most energetic proprietors and designers of malls and shopping malls in the us. CBL is the owner of, holds interests in or manages 147 properties, including 91 regional malls, including Hamilton Put and Northgate malls in Chattanooga and Walnut Square Mall in Dalton, Ga.