Chattanooga, Tenn. — CBL Properties (NYSE: CBL) announced this morning that it has struck a deal with its lenders on a restructuring plan that will eliminate $900 million in debt and reduce annual interest expense by $20 million. Although the
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Johnson City, Tenn. — Washington Prime Group (WPG) has signed Chipotle Mexican Grill and Chicken Salad Chick to the tenant roster of The Mall at Johnson City, a mall in Johnson City that is currently being redeveloped. The two eateries
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Chattanooga, Tenn. — CBL Properties reports it collected 27 percent of billed cash rents in April as retail stores and restaurants closed due the COVID-19 outbreak. The Chattanooga-based mall owner said during its first quarter earnings report that a majority
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Phoenix — Sprouts Farmers Market has expanded its grocery pick-up service to 46 stores in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee as the grocer faces heightened demand amid the COVID-19 outbreak. The service allows customers to plan
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Knoxville, Tenn. and Somerset, Ky. — Hanley Investment Group has arranged the sale of two multi-tenant retail outparcels situated on Walmart Supercenter-anchored properties in Tennessee and Kentucky. An undisclosed private investor based in Kentucky acquired both properties in all-cash deals.
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Nashville, Tenn. — Tennessee Gov. Bill Lee will allow personal service businesses in 89 of the state’s 95 counties to reopen under strict guidelines Wednesday as the COVID-19 pandemic continues to impact the country’s economy. The governor’s office estimates 38,000
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Nashville, Tenn. — TC Restaurant Group has filed a Worker Adjustment and Retraining Notification (WARN) Act with the Tennessee Department of Labor and Workforce Development to notify the agency of 411 employee layoffs stemming from closures due to the coronavirus
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Gallatin, Tenn. — Staghorn Capital Partners has arranged a $5.4 million construction loan for RREAF Holdings to develop Phase I of Shoppes at Hunter Pointe in Gallatin, about 30 miles northeast of Nashville. The property is expected to comprise 25,147
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Nashville, Tenn. — Whole Foods Market has opened a 44,500-square-foot store in downtown Nashville. Whole Foods employs about 120 full- and part-time workers at the new store, which is situated at 1202 Broadway. The store will be open 7 a.m.
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Jackson, Tenn. — A partnership between DRA Advisors and RCG Ventures has sold West Towne Commons, a 180,960-square-foot retail center in Jackson. The property was 97 percent leased at the time of sale to tenants including TJ Maxx, Five Below,
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Nashville, Tenn. — Boyle Investment Co. has sold Lion’s Head Village, a Trader Joe’s-anchored shopping center in Nashville, for $45.3 million. The center is shadow-anchored by Target and was fully leased at the time of sale to tenants including Great
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Chattanooga, Tenn. — CBL Properties (NYSE: CBL) will suspend its stock dividends for 2019 and possibly through year-end 2020 in the face of retail bankruptcies, store closures and corporate restructurings of tenants within its portfolio. The Chattanooga-based shopping center and
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