CBL acquires Sears locations in Nashville, Lexington

CBL acquires Sears locations in Nashville, Lexington

July 2nd, 2013 by Associated Press in Local - Breaking News

CBL & Associates Properties Inc. today announced that it has acquired two Sears locations at CBL's CoolSprings Galleria in Nashville and the Fayette Mall in Lexington, Ky.

Sears will continue to operate in both locations until closing dates have been finalized.

"The acquisition of these Sears stores will allow us to create substantial value at two of our most productive malls," said Stephen Lebovitz, Chattanooga-based CBL's chief executive officer, in a statement.

"We have plans to redevelop and expand both buildings to create space for new high-end specialty stores and restaurants designed to augment each properties' market-dominant position and enhance their strong growth rates. Additional details on these exciting projects will be announced in the near future."