By: June Fletcher
Fort Myers, Fla. – Gulf Coast Town Center is facing foreclosure.
Wells Fargo filed proceedings against CBL & Associates, the owners of the decade-old, 1.2 million-square-foot mall, on Sept. 8 for a $190.9 million unpaid loan.
The center has 94 stores on 204 acres. Anchors include Super Target, Belk, Best Buy, Dick’s Sporting Goods, Marshalls and Costco.
Based in Chattanooga, Tennessee, CBL is a real estate investment trust that owns or manages more than 140 properties in 30 states, including 90 regional malls and open-air centers.
In Florida, it also owns Cobblestone Village on the Palm Coast, The Pavilion at Port Orange, Volusia Mall in Daytona Beach and Hammock Landing in West Melbourne.
For complete article, click here <——-