Northpark Mall owner sells mall in Florida

(CBL & Associates, the firm that owns Northpark Mall in Joplin, recently announced that it would be selling some of its malls. The following news released was issued by the company today.)

CBL & Associates Properties, Inc. (NYSE:CBL) announced that it has closed on the sale of Lakeshore Mall in Sebring, FL, to a private buyer for $14.0 million.

“We are pleased to advance our strategic objective of selling lower productivity malls with the disposition of Lakeshore Mall,” said Stephen Lebovitz, CBL’s president & chief executive officer. “We are also achieving progress with our additional disposition efforts and look forward to making announcements over the coming months.”

Margaret Caldwell and Kris Cooper of Jones Lang LaSalle represented CBL in the transaction.