DALLAS-Under the gun with its AMEX listing, CabelTel International Corp. is in the process of transferring ownership in the 315,512-sf Gainesville Factory Shops. The four-year owner has been sizing up the mall's sale for the past year.

The Gainesville outlet mall, built in 1993, is down to 49% occupancy. In an SEC filing, the Dallas-based CabelTel's executive team reported the mall and 40 acres of vacant land are under contract to an independent third party. The buyer's identity couldn't be learned by press time because dealmakers are so hushed about the planned sale. CabelTel president and CFO Gene Bertcher did not respond to telephone calls seeking comment on the pending deal for the 4321 N. Interstate 35 footprint, right at exit 501 in Gainesville and a stone's throw to the Red River and Chickasaw Nation's WinStar Casino in Thackerville, OK.

A GlobeSt.com source has confirmed the deal's still alive and hasn't fallen apart like it did last year when Bertcher was in talks with Newport Beach, CA-based Craig Realty Group's Steven L. Craig, who owns outlet malls in Hillsboro and Conroe, TX. He also did not return a telephone call to comment on if talks had resumed.