CBL Sells Remaining Cobblestone Village Holdings

Beginning in 2007 with the completion of Belk, Lowe’s and a strip plaza, Cobblestone Village grew to include Memorial Hospital Flagler, Carabas, Zaxbys, Dollar Tree and Golden Corral.

PALM COAST, FL – December 29, 2016 – Chattanooga, Tenn.-based CBL & Associates has sold its remaining properties in Cobblestone Village at Palm Coast. CBL owns or has an interest in 89 regional malls and shopping centers.

Beginning in 2007 with the completion of Belk’s, Lowe’s and a strip plaza, Cobblestone Village grew to include Memorial Hospital Flagler, Carabas, Zaxbys, Dollar Tree and Golden Corral.

Cobblestone Development Schedule

• Lowe’s: 136,912 square feet – completed in 2007
• Belk: 73,869 square feet – completed in 2007
• Strip plaza: 23,018 square feet – completed in 2007
• Golden Corral: 11,131 square feet – completed in 2008
• Carabas: 6,107 square feet – completed in 2012
• Memorial Hospital Flagler: 33.700 square feet – completed in 2012
• Zaxbys: 3,947 square feet – completed in 2013
• Dollar Tree: 9,880 square feet – completed in 2013

In one transaction, CVPC-Outparcels, LLC sold the Carabas parcel to FCG-Palm Coast, LLC for $1,700,000. In a second transaction, Cobblestone Village at Palm Coast, LLC sold (also to FCG-Palm Coast LLC) the parcel that includes Belk and the strip plaza along with three other minor parcels for $6,800,000. Both transactions closed on December 14th. Financing was provided by Wells Fargo Bank.

Googlel Earth view of Cobblestone Village at Palm Coast