Pittsburg, PA
Monroeville Mall sold for more than $30 million
MONROEVILLE (KDKA) – The owners of the Monroeville Mall have announced that it has been sold for a price of $34 million.
This includes the main mall building as well as the adjacent strip mall, the expansion near the front entrance, as well as the land parcels for Best Buy and Firestone.
The company that owned the mall, CBL Properties, said the sale will allow them to focus on what they call “higher performing properties.”
“The sale of Monroeville Mall is a great example of the resilient value of the well-located real estate in a dynamic market,” commented Stephen D. Lebovitz, CBL’s Chief Executive Officer in a statement. “This transaction allows us to focus efforts on higher productivity properties, generates significant cash proceeds, and further reduces leverage.”
Monroeville Mall has been up for sale since December, but it is not known at this time who the mall was sold to.
This is a developing story, stay with KDKA on-air and online for the latest.
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