Wausau mall parent company to sell off properties - WAOW - Newsline 9, Wausau News, Weather, Sports

Wausau mall parent company to sell off properties

Posted: Updated: Apr 14, 2014 10:26 PM
WAUSAU (WAOW) -- The company that owns the Wausau mall is selling some of its property.

CBL & Associates Properties would not tell Newsline 9 what malls it's selling or how many. It's unclear if the Wausau mall is included. Company leaders simply say they're focusing on selling some malls within two to three years.

The downtown mall has struggled recently as anchor store JC Penney plans to close next month. Other stores such as Gap and Hollister have already moved out.

Leaders at the Chamber of Commerce say even if a sale does happen though, it doesn't necessarily spell doom and gloom.

"If someone's buying it, they're not buying it to close it," said Jim Warsaw, the Chamber's economic development director. "They're either buying it to build upon what they have or to modify and do something else with it that will generate more money for themselves."

Leaders made sure to point out the mall's struggles are not unique to Wausau. They say malls around the country, and retail in general, are having trouble.

The Wausau mall's general manager, Shawn Weiss, didn't want to comment because at this point, he says, it's just speculation and rumor. 
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