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

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.