CBL & Associates Properties, known locally as the co-owner of Triangle Town Center mall in north Raleigh, has taken on another big position in the state with its $192 million purchase of the Mayfaire Town Center and Community Center in Wilmington on Thursday.
Chattanooga, Tennessee-based CBL (NYSE:CBL) acquired the property through an all-cash deal with the developers of Mayfaire, Greenville-based BrodyCo. Inc. and Wilmington-based Zimmer Development Co., according to news release from CBL after the stock market closed...
Savills Studley of New York represented the sellers in the transaction. Jerome R. Eatman of Lynch & Eatman law firm of Raleigh completed the legal closing on behalf of the sellers.CBL buys big Wilmington retail center for $192 million, Raleigh mall sale still pending
Related StoriesEB-5 Investment and the Impact on Commercial Real Estate
National Office Sector Report (Q1 2015)