CHESAPEAKE, Va. – The future of Greenbrier Mall is up in the air.

CBL Properties, the company that owns most of the mall, says it defaulted on a loan and has turned over the property as part of the foreclosure process. The company is also turning over two other malls, one in North Carolina and one in Tennessee.

Greenbrier isn’t the first mall with issues here in Hampton Roads. We’ve watched stores close down left and right over at Norfolk’s MacArthur Center Mall, even though recently a few new stores have opened.

In Virginia Beach, the bulk of Pembroke Mall closed back in July 2021 for a $200 million renovation project, which includes a hotel, apartments and some retail stores.

“We have been aware for some time of the struggle that Greenbrier Mall has had, as have other malls throughout the country, and we have been monitoring that process,” Chesapeake Mayor Rick West told News 3. “It’s a little complex because there are three owners of that mall, but we do have a study going on right now to take a look at the Greenbrier area in general, but more specifically what the best use of that property will be so we will continue with that and hopefully it may end up providing great opportunities for us..”

News 3 is still working to learn what the defaulted loan means for Greenbrier Mall’s existing businesses, as well as the large shopping centers right across Greenbrier Parkway.

This story will be updated as we learn more.





Source link