Greenbrier Mall enters foreclosure as partial owner defaults on loan2 min read
CHESAPEAKE, Va. – The potential of Greenbrier Shopping mall is up in the air.
CBL Properties, the corporation that owns most of the mall, claims it defaulted on a financial loan and has turned about the house as element of the foreclosures method. The firm is also turning about two other malls, just one in North Carolina and one particular in Tennessee.
Greenbrier just isn’t the very first shopping mall with problems below in Hampton Roads. We have viewed shops close down remaining and right more than at Norfolk’s MacArthur Heart Mall, even even though just lately a several new stores have opened.
In Virginia Seashore, the bulk of Pembroke Mall closed back in July 2021 for a $200 million renovation venture, which features a hotel, flats and some retail stores.
“We have been conscious for some time of the battle that Greenbrier Mall has experienced, as have other malls all over the region, and we have been checking that method,” Chesapeake Mayor Rick West explained to Information 3. “It’s a very little elaborate because there are a few owners of that mall, but we do have a study going on ideal now to take a look at the Greenbrier location in general, but far more precisely what the best use of that home will be so we will go on with that and ideally it could stop up providing excellent possibilities for us..”
Information 3 is even now doing the job to find out what the defaulted loan means for Greenbrier Mall’s present businesses, as nicely as the massive buying centers appropriate across Greenbrier Parkway.
This story will be updated as we understand more.