CBL Properties Announces Mixed-Use Redevelopment Plans for Hamilton Place in Chattanooga, Tennessee

Date : 11/12/2018 @ 2:23PM
Source : Business Wire
Stock : Cbl & Associates Properties, Inc. (CBL)
Quote : 1.19  0.0 (0.00%) @ 12:00PM

CBL Properties Announces Mixed-Use Redevelopment Plans for Hamilton Place in Chattanooga, Tennessee

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Project to Deliver New-to-Market Entertainment, Specialty Retail, Hotel and Office

CBL Properties (NYSE:CBL) today announced plans to redevelop the Sears building at Hamilton Place in Chattanooga, Tennessee. As part of the project, Chattanooga will welcome new-to-market entertainment venue Dave & Buster’s, which will feature hundreds of the latest arcade games, state-of-the-art sports viewing, chef-crafted food and innovative cocktails you won’t find anywhere else. In addition, the project will include a national specialty retail junior anchor, an approximately 145-room boutique-style hotel, Class “A” office space and additional restaurants and specialty tenants. More details will be announced in the coming months.

“We are thrilled to announce the plans for this comprehensive mixed-use redevelopment at Hamilton Place,” said Stephen Lebovitz, chief executive officer, CBL Properties. “Our vision is to transform our traditional enclosed malls to dynamic suburban town centers, and this redevelopment is a great example of this strategy. CBL is committed to diversifying our properties’ offerings and delivering a new experience for our customers.”

“These new offerings, coupled with the addition of The Cheesecake Factory, which is opening in December, will further solidify Hamilton Place as the premier shopping, dining and entertainment destination in the Chattanooga market. In addition, the Hamilton Place complex has added new users such as Jim N’ Nick’s BBQ, Altar’d State, and Molly Green in the past few months which bring in additional customers and strengthen the draw of the property,” added Lebovitz.

Construction on this project will begin in early 2019.

About Dave & Buster’s

Dave & Buster’s Entertainment, Inc. (NASDAQ: PLAY), headquartered in Dallas, TX, operates 119 high-volume restaurant/entertainment complexes throughout North America. The exciting environment of Dave & Buster’s also provides the perfect setting for corporate and group events. Each Dave & Buster’s offers an impressive selection of high-quality food and beverage items, combined with the latest games and attractions. Guests can watch sporting events in the D&B Sports Bar and play state-of-the-art simulators and games of skill they can’t play anywhere else. For more information, visit www.daveandbusters.com.

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 114 properties totaling 71.9 million square feet across 26 states, including 73 high-quality enclosed, outlet and open-air retail centers and 12 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.

Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K, and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" included therein, for a discussion of such risks and uncertainties.

CBL PropertiesInvestor Contact:Katie Reinsmidt, 423-490-8301EVP & Chief Investment OfficerKatie.Reinsmidt@cblproperties.comorMedia Contact:Stacey Keating, 423-490-8361Director of Public RelationsStacey.Keating@cblproperties.com

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