CBL Properties Celebrates Completion of Multiple Redevelopment Projects Across Its Portfolio
July 13 2022 - 10:00AM
Business Wire
CBL Properties (NYSE:CBL) today announced completed
redevelopment projects at Kirkwood Mall in Bismarck, North Dakota;
Sunrise Mall in Brownsville, Texas; and Cross Creek Mall in
Fayetteville, North Carolina with more planned in the coming
months.
“Over the last several years, we have invested in our properties
to transform vacant anchor space, underutilized parking lots, and
land parcels into new, exciting uses that add value to our
properties,” said Stephen Lebovitz, chief executive officer.
“During the first half of 2022, we celebrated the addition of
new-to-market dining, entertainment, and retail options in
locations across our portfolio. The latter half of 2022 will bring
more planned openings, including Von Maur at West Towne Mall in
Madison, Wisconsin.”
At Dakota Square Mall in Minot, North Dakota an expanded and
remodeled SCHEELS store opened in a former Sears building on July
9, featuring 110,000 square-feet of retail and 75 specialty shops.
At CBL’s other North Dakota property, Kirkwood Mall in Bismarck,
the former Herberger’s parking lot was transformed into pads for
Blaze Pizza, Chick-fil-A, Five Guys, Pancheros Mexican Grill, and
Thrifty White Pharmacy, all of which were open as of May 2022. The
former Sears building and parcel at Cross Creek Mall in
Fayetteville, North Carolina were transformed into a Rooms To Go
furniture store and LongHorn Steakhouse, which opened in January
2022. Additional plans for the space are currently being finalized
and will be announced in the coming months. In Brownsville, Texas,
at Sunrise Mall the former Sears was transformed into TruFit, which
opened in 2021, and entertainment destination Main Event, which
opened in June 2022.
Lebovitz added, “As we look ahead, we see considerable
opportunity to add hotels, multi-family, entertainment, medical,
restaurants, and other new uses at CBL properties.”
Since 2017, CBL has completed nearly three-dozen anchor
redevelopment projects totaling approximately three million
square-feet. These projects have significantly diversified the
offerings at our properties to include entertainment venues, new
dining, retail, hotels, educational facilities, and grocery.
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 owned and managed
portfolio is comprised of 95 properties totaling 59.6 million
square feet across 24 states, including 57 high-quality enclosed
malls, outlet centers and lifestyle retail centers as well as more
than 30 open-air centers and other assets. CBL seeks to
continuously strengthen its company and portfolio through active
management, aggressive leasing and profitable reinvestment in its
properties. For more information visit cblproperties.com.
CBL_Corp
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version on businesswire.com: https://www.businesswire.com/news/home/20220713005156/en/
Investor Contact: Katie Reinsmidt, Executive Vice President
& Chief Investment Officer, 423.490.8301,
Katie.Reinsmidt@cblproperties.com
Media Contact: Stacey Keating, Vice President– Corporate
Communications, 423.490.8361, Stacey.Keating@cblproperties.com
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