CHARLESTON, SC (WCSC) - A once bustling West Ashley shopping spot is now facing foreclosure.
CBL & Associates, owners of Citadel Mall, have defaulted on a $75 million loan, forcing a judge to turn the mall over to new management, the Spinoso Real Estate Group.
The general manager of Citadel Mall says once the lender takes over, they will begin working on a plan to revitalize the mall, which has seen a number of its storefronts go vacant in recent years.
He also says customers and vendors will see no interruption in day-to-day operations.
Northwoods Mall, who is also owned by CBL & Associates, will not be affected.