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Stephen D. Lebovitz Of CBL Properties Sells Imperial Valley Mall In El Centro For $38.1M

Property Image
SOLD
$38,100,000

California

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Retail762,695 SF
Sold 02/17/2025
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Property Image
SOLD

Stephen D. Lebovitz Of CBL Properties Sells Imperial Valley Mall In El Centro For $38.1M

3451 South Dogwood Road

See Similar Deals
Retail762,695 SF
Sold 02/17/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$50
Total Square Footage:762,695 SF
Transaction Type:Sale

The retail asset involved in the transaction is Imperial Valley Mall located at 3451 South Dogwood Road in El Centro. The sale price for the mall is $38,100,000, and it encompasses a total square footage of 762,695. The property operates in a market where significant retailers such as Dillard's, JCPenney, Macy's, and Cinemark serve as anchors. The mall was opened in 2005 and the price per square foot is calculated at $50.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $38,100,000
  • Address: 3451 South Dogwood Road
  • Market: El Centro
  • Square Footage: 762,695
  • Price per Square Foot: $50
  • Seller: Stephen D. Lebovitz - CBL Properties

Stephen D. Lebovitz represented CBL Properties in the sale of the mall. The proceeds from this transaction were utilized to reduce the balance of a non-recourse term loan associated with the property.

Players

CP
CBL Properties
BROKERAGE

Details

SOLD
IMAGE: Stephen D. Lebovitz DATE: 02/17/2025 ADDRESS: 3451 South Dogwood Road MARKET: El Centro ASSET TYPE: Retail SELLER: Stephen D. Lebovitz (@SDLebov) - CBL Properties (@CBLProperties) SALE PRICE: $38,100,000 SF: 762,695 ~ PPSF: $50 NOTE: CBL Properties sold Imperial Valley Mall in El Centro for $38.1 million, with proceeds used to reduce the balance of a non-recourse term loan. The 762,695-square-foot mall, opened in 2005, is anchored by Dillard's, JCPenney, Macy's, and Cinemark.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$135,361.25
Cash-on-Cash Return-1.27%
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