CBL Properties Announces Redevelopment at Coastal Grand in Myrtle Beach, South Carolina

Date : 12/09/2019 @ 2:00PM
Source : Business Wire
Stock : CBL and Associates Properties Inc (CBL)
Quote : 0.2188  0.0388 (21.56%) @ 11:40PM
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CBL Properties Announces Redevelopment at Coastal Grand in Myrtle Beach, South Carolina

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CBL Properties (NYSE:CBL) today announced redevelopment plans at Coastal Grand in Myrtle Beach, South Carolina. As part of the project, DICK’S Sporting Goods will relocate to a new building near Dillard’s, which will include the addition of Golf Galaxy. Flip N Fly will then open a 53,000-square-foot family entertainment venue in the former DICK’S Sporting Goods location.

“We are excited to announce another redevelopment project that further illustrates our commitment to diversifying and enhancing the offerings at our properties,” said Stephen Lebovitz, chief executive officer, CBL Properties. “We are successfully executing our redevelopment strategy of adding new, in-demand retail and other uses to enhance the customer experience, including over 850,000 square feet of new-to-market entertainment offerings across over a dozen properties.”

Lebovitz added, “The addition of Flip N Fly is a perfect fit for this popular tourist market and will solidify Coastal Grand as a family entertainment destination.”

Flip N Fly will bring a state-of-the-art trampoline park as well as other family attractions to Coastal Grand. The location at Coastal Grand will be the second Flip N Fly in the CBL portfolio, the first is located at Mayfaire in Wilmington, North Carolina.

Construction on the new DICK’s Sporting Goods/Golf Galaxy store will begin in early 2020. More information about a grand opening date will be announced as plans are finalized.

About Coastal Grand Mall

Owned and managed by CBL Properties of Chattanooga, Tennessee, Coastal Grand Mall features more than 170 great specialty shops and is anchored by Bed Bath & Beyond, Belk, Books‑A‑Million, Cinemark Theatres, DICK’S Sporting Goods, Dillard’s, JCPenney, Old Navy and Sears. Coastal Grand Mall is conveniently located at the Highway 17 Bypass and US Highway 501. For more information, visit online at CoastalGrand.com or on Facebook at Facebook.com/CoastalGrandMall.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 108 properties totaling 68.2 million square feet across 26 states, including 68 high‑quality enclosed, outlet and open-air retail centers and nine properties managed for third parties. CBL continuously strengthens its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Investment Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com Media Contact: Stacey Keating, Director of Public Relations & Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com

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