X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BEAUMONT, TX-CBL & Associates Properties will purchase 21 malls, including Parkdale Mall in Beaumont, from the Richard E. Jacobs Group for $1.2 billion. The Parkdale Mall, with 150 stores, is one of the largest malls in southeast Texas.

CBL & Associates, a Chattanooga, TN.-based firm, will acquire Jacobs’ interests in 21 regional malls and two associated centers. The portfolio, totaling approximately 19.2 million sf, includes five malls in Wisconsin, three each in North Carolina, Kentucky and South carolina, two each in Michigan and Ohio, one each in Illinois, Tennessee and Texas and associated shopping centers in both Ohio and Wisconsin.

The acquisition is expected to close in first quarter 2001. If the acquisition is completed as planned, CBL’s portfolio will total 161 properties, representing 55 million sf in 26 states, making it one of the top five owners of shopping centers in the nation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.