Retail space in Muskegon and Saginaw comprises 703,000 SF
CHICAGO – August 10, 2016 – CBRE recently represented CBL & Associates Properties, Inc. in the sale of The Lakes Mall in Muskegon, Michigan and Fashion Square Mall in Saginaw, Michigan to a joint venture of Mason Asset Management and Namdar Realty Group.
George Good, executive vice president of CBRE represented CBL & Associate Properties in both transactions.
Located at 5600 Harvey Street, The Lakes Mall is the dominant retail property in the Muskegon area. The shopping mall contains 587,964 square feet, of which 257,724 square feet was included in the sale. Anchors at The Lakes Mall include Sears, Younkers, Dick’s Sporting Goods, Bed Bath & Beyond and J.C. Penney.
Fashion Square Mall, located at 4787 Fashion Square Blvd. in Saginaw, offers 771,567 square feet, of which 446,741 square feet was included in the sale. The mall is anchored by JC Penney, Macy’s and Sears.
“Both The Lakes Mall in Muskegon and Fashion Square in Saginaw are the dominant enclosed malls in their respective trade areas on the west and east side of Michigan,” said CBRE’s Good. “Sales and occupancy are strong at both malls, but there are still opportunities for upgrading the retail offerings at each property.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
