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CLARKSVILLE, Ind. (WDRB) -- An economic staple in Clarksville, Ind. is now under new ownership.
The Green Tree Mall was sold by California-based Macerich Co. to Tennessee company CBL & Associates for an undisclosed amount.
It was a sale that only took about six months, and economic development specialists say it is a sign of business growth in southern Indiana.
"Folks who are engaged in finding locations for new businesses or helping existing businesses expand, they know what's going on in southern Indiana," said Wendy Dant Chesser of One Southern Indiana. The non-profit chamber and economic development group is focused on recruiting new business and encouraging economic growth in the region. Dant Chesser says the sale of Green Tree Mall in Clarksville can only mean good things.
"As dollars are moving around the local economy and they stay local, that tends to benefit all of us," said Dant Chesser.
The Clarksville mall is not the first shopping center the new ownership company has in the area. They also own the Jefferson Mall in Louisville.
Neighbors to the Green Tree Mall, Roosters restaurant, say they hope they'll benefit from the ownership change.
"Hopefully they're very innovative and creative and like well-working partnerships," said assistant manager Timothy Scott.
They are especially hopeful that the new owners will allow utilization of the parking lot outside their restaurant for outdoor events.
"I would like to have some car shows, maybe some more car washes for the local schools and churches, and raise money for the public," Scott said.
And from what the local chamber knows of CBL and Associates, the purchase is a positive one.
"This new group tends to have a more regional mall focus. They tend to be more aggressive. And any changes that they make, we hope will be very positive to the future of the community," said Dant Chesser.
Mall management was unavailable for comment, but according to their website, CBL and Associates is already listed as the ownership company.