Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Burnsville Center will go into foreclosure after closures, other effects of pandemic

 

August 14, 2020

JEFF THOMPSON – STAR TRIBUNE file

A 2006 remodel of the food court at Burnsville Center included an addition of a fireplace and some new decor.

The Tennessee real estate investment trust that owns Burnsville Center said it would cooperate with foreclosure proceedings for the suburban mall and three of its other shopping centers.

CBL Properties said in public financial filings earlier this year that Burnsville Center had experienced a decline in income due to store closures and rent reductions.

According to second-quarter results released last week, CBL Properties' overall same-center net operating income declined 32% for the three months ended June 30.



 

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