Fayette Mall owners plan to sell some shopping centers

April 12, 2014 

Lexington: CBL & Associates Properties Inc. officials said Friday that the Chattanooga-based company which owns the Fayette Mall plans to sell about 21 of its shopping centers to boost operating income and upgrade its remaining properties.

“Fayette Mall is a terrific asset that has a long and bright future in the CBL portfolio,” said Katie Reinsmidt, a senior vice president of CBL, in an email. “ ... We are currently investing in a very exciting redevelopment of the former Sears location bringing a high caliber of new stores and restaurants to the market such as H&M and Cheesecake Factory.”

CBL owns, holds interests in or manages 150 properties, including 91 regional malls and open-air centers in 30 states.

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