Business Briefs: Volkswagen may be close on SUV decision

Business Briefs: Volkswagen may be close on SUV decision

May 9th, 2014 by Associated Press and Staff Report in Business Around the Region

This Volkswagen image shows the midsize SUV VW plans to build for the American market.

Photo by Contributed Photo/Times Free Press.

Volkswagen decision nears on SUV

Volkswagen may be closing in on a decision that could put production of a new sport utility vehicle at the automaker's Chattanooga plant.

The company's supervisory board is slated to meet Monday, and the panel may be ready to name Chattanooga or Mexico as soon as then, according to sources. If not, the company may wait another month.

Chattanooga Mayor Andy Berke said Thursday he's confident VW wants to be in Chattanooga.

"I've pushed the state to put the incentive package back on the table and that will to me trigger a huge investment in our community," he said.

VW has said that it wants to put a new seven-seat SUV on the market by 2016.

CBL sells mall for $14 million

Chattanooga-based CBL & Associates Properties Inc. has closed on the sale of Lakeshore Mall in Sebring, Fla., to a private buyer for $14 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 and chief executive officer. "We are also achieving progress with our additional disposition efforts and look forward to making announcements over the coming months."