Red Lion sells Kalispell Center Mall for $11.6M
Red Lion Hotels Corp. has announced the sale of the Kalispell Center Mall to a Spokane, Wash., company for $11.6 million.
WSPGB Mall LLC, an affiliate of Woodbury Strategic Partners and Goodale & Barbieri Co., bought the mall. Goodale & Barbieri has been managing the mall for Red Lion, which built it in 1986.
The 170-room Red Lion Hotel attached to the mall will now be a tenant.
Red Lion officials say the sale of the Kalispell Center Mall completes the company's sale of its non-hotel operating assets. Red Lion President and CEO Jon Eliassen says Red Lion plans to use the money to pay down debt and invest in its hotels.
Kalispell Center Mall tenants include JCPenney and Herberger's.