What were the changes in real estate prices in Broward County last week? Wells Fargo, representing a trust of commercial mortgage-backed securities investors, was awarded a foreclosure judgment of $68.7 million in January, which included the loans principal plus interest and fees, according to the filing. The final two Zellers stores will shut down later this month. In October, the commercial brokerage JLL was tapped to sell the $65.1 million CMBS loan tied to the mall. The locations included Market by Macys, according to a July press release from the company, a smaller store that offers customers more to love.. While most such malls are expected to generate enough cash flow to cover debt service, Che said, others face continued performance challenges, liquidity pressures and overall market sentiment.. It is still owned by SPG and they owe . In November, BH Group partnered with Related Group and billionaire Teddy Sagi to buy the long-shuttered White House Inn in North Miami for $11.3 million. Website. Part of the challenge is buying out anchor tenants, which own their spaces. Sign up for free newsletters and get more CNBC delivered to your inbox. Mall developers had up until now been courting entertainment companies likeDave& Buster's and iFly indoor skydiving, and restaurants like Cheesecake Factory, to lessen their dependence on shrinking retailers. The hospitality investment arm of Electra America, co-founded by managing partner Joe Lubeck, recently teamed up with Korman Communities to purchase an 217-micro-unit multifamily project in West Palm Beach for $83.9 million. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Connecticut private island sells for $3.5M. "It is nearly impossible to find a property of this quality and size throughout South Florida. It's part of a restructuring plan that includes new stores in some markets. SOUTHLAND MALL. This is an archived article and the information in the article may be outdated. On its website, Brookfield describes Southland as the only regional center located in the Detroit suburbs south of I-94 and less than one-quarter mile from I-75. It has said malls rated C and below "are not viable retail centers long term.". With Department Stores Disappearing, Malls Could Be Next That's down from around 2,500 locations in the 1980s and 700 today, Egelanian said. Town officials preparing for changes to Southland Mall The pandemic sped up the shift to online shopping, and the continued growth of e-commerce sales will lead to more stores shutting down after the pandemic ends, UBS retail analysts led by Michael .
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