With CBL & Associates Properties, the owner of the big Hamilton Place Mall on the eastern side of Chattanooga, now having agreed to buy Northgate Mall, in the Hixson area, there is an interesting and very positive combination in local retailing.
The company is purchasing Northgate for $11.5 million, in a transaction expected to close Oct. 6.
"It will be a more important part of the Chattanooga retail market," Charles Lebovitz of CBL observed.
Stephen Lebovitz said, "This transaction represents a unique and special opportunity for us to grow our presence in our hometown."
CBL has a deserved reputation for having many outstanding stores in its high-quality shopping centers throughout the country.
The local firm has interests in, manages or owns 158 properties, and is one of the biggest shopping center and mall companies in the United States.
The expansion of CBL is important not only for the company's continuing success, but for the economic success of our whole community.