CBL Properties Elevates Tenant Mix at Mayfaire Town Center in Wilmington, North Carolina With Several Key Additions

Rhea-AI Summary

Today, CBL Properties announced the addition of several new stores at Mayfaire Town Center in Wilmington, NC. Key additions include Free People and FP Movement, each occupying around 2,300 square feet on Main Street. Reeds Jewelers will also open a flagship store featuring Rolex and David Yurman outlets in a 9,000-square-foot space. Additionally, lululemon will relocate to a 5,200-square-foot space. Rack Room Shoes has already relocated to a 4,000-square-foot space on Monument Drive. Claire’s will open in June in a new 1,400-square-foot location. New dining options at Mayfaire Community Center include Vochos Urban Mexican Kitchen, Potbelly Sandwich Shop, and a reopened Chick-fil-A this summer.

Positive

• CBL Properties announced new store additions at Mayfaire Town Center, boosting its tenant mix.
• Free People and FP Movement will occupy 2,300 and 2,200 square feet, respectively.
• Reeds Jewelers will open a 9,000-square-foot flagship store featuring Rolex and David Yurman.
• lululemon will expand to a new 5,200-square-foot space.
• Claire’s to open a 1,400-square-foot location in June.
• New dining options include Vochos Urban Mexican Kitchen, Potbelly Sandwich Shop, and Chick-fil-A reopening.

Negative

• No mention of potential disruptions during construction may concern current tenants and shoppers.
• Relocation and expansion could result in higher operational costs for lululemon and Reeds Jewelers.

Free People and FP Movement to open this fall

Reeds Jewelers to open first Rolex store in the market; lululemon to relocate and expand

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- Today CBL Properties (NYSE:CBL) announced the addition of several new and exciting stores at Mayfaire Town Center in Wilmington, NC, including Free People and FP Movement as well as significant upgrades to current tenants, Reeds Jewelers and lululemon.

“This is an exciting year for Mayfaire,” said Stephen Lebovitz, chief executive officer, CBL Properties. “The property is celebrating its 20^th anniversary of serving the Wilmington community and we are thrilled to mark the milestone by adding exciting new retailers, including the first FP Movement in the CBL portfolio.”

Free People and FP Movement offer a contemporary and modern line of women’s clothing for every aspect of life. Free People and FP Movement will each open on Main Street, occupying approximately 2,300 and 2,200 square feet, respectively.

Reeds Jewelers, owned and operated by the Zimmer family, has operated at Mayfaire since the project opened 20 years ago. Last year, plans were announced for a significant investment into the store to build a formal flagship and community hub around the brand. The 9,000-square-foot space on Inspiration Drive includes Rolex and David Yurman stores as well as a bar and lounge. A grand opening for the newly renovated and expanded store is planned for July.

Lebovitz added, “The Zimmer family played a pivotal role in the development of Mayfaire and we appreciate their continued commitment to the growth and success of the center. Their new flagship store will offer shoppers an unparalleled luxury experience and elevate the overall mix at the property.”

lululemon, which originally opened at the center in 2021, will relocate and expand to a new 5,200-square-foot space along Main Street. To make way for these exciting additions, Rack Room Shoes has relocated and recently reopened in a new 4,000-square-foot space along Monument Drive, next to David’s Bridal.

Construction on Free People, FP Movement, and lululemon is currently underway with anticipated openings this fall. Additional details will be announced closer to the opening dates.

“We are thrilled with the strong demand at Mayfaire from such high-quality retailers and we are excited to celebrate these openings with the community,” commented Lebovitz.

In addition to Free People, FP Movement, and lululemon, Claire’s will open in June in a new 1,400-square-foot location along Inspiration Drive to make way for another exciting retailer. More details about that new store will be shared as plans are finalized.

Additionally, at Mayfaire Community Center, Vochos Urban Mexican Kitchen, and Potbelly Sandwich Shop will open, and Chick-fil-A will reopen this summer.

ABOUT FP MOVEMENT

Established in 2012 as a category of Free People, FP Movement has been at the forefront of redefining activewear, introducing performance-ready styles that extend beyond the gym. Rooted in community, individuality, and the spirit of #movingtogether, FP Movement's activewear for Hike, Run, Racquet, and Ski bridges the gap between fashion and function.

In 2020, FP Movement emerged as an independent brand, opening its first standalone store in Los Angeles. Today, the brand has 37 stores nationwide, offers online shopping at fpmovement.com, and collaborates with wholesale partners such as Dick’s Sporting Goods and independent fitness studios.

ABOUT FREE PEOPLE

Free People is a global women’s lifestyle brand, defined by creativity, curiosity and adventure, with offerings in unique apparel, intimate wear, shoes and accessories, and beauty and wellness. The Philadelphia-based retailer is available via global, UK and French sites, top department and specialty stores, as well as via Instagram and TikTok.

About Mayfaire

Owned and managed by CBL Properties of Chattanooga, Tennessee, [NYSE:CBL], Mayfaire is a shopping, dining and entertainment experience comprised of Mayfaire Town Center and Mayfaire Community Center. The 610,000-square-foot Town Center is anchored by Belk and a 16-screen Regal Cinema, featuring an IMAX theater, as well as junior anchors, including The Fresh Market, World Market, Pottery Barn, ULTA and Michael’s. The center offers leading retail brands, such as Athleta, Chico’s, H&M, LOFT, White House | Black Market and Williams Sonoma and restaurants, including Brixx Wood Fired Pizza, First Watch and CAVA Restaurant.

The Community Center is 210,000-square-feet anchored by a high-performing Harris Teeter, Dick’s Sporting Goods, Marshalls and PetSmart as well as 48,000 square feet of retailer shops, including Panera Bread Co., Five Guys Burgers & Fries and Chick-fil-A.

For more information please visit Mayfaire.com, find us on Facebook @Mayfaire or Instagram @mayfairetowncenter.

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 94 properties totaling 58.5 million square feet across 22 states, including 56 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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240613731371/en/

Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com

Media Contact: Stacey Keating, Vice President– Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com

Source: CBL Properties

FAQ

When will Free People and FP Movement open at Mayfaire Town Center?

Free People and FP Movement are set to open this fall at Mayfaire Town Center.

What is the new location size for lululemon at Mayfaire Town Center?

Lululemon will relocate to a 5,200-square-foot space on Main Street at Mayfaire Town Center.

What additions are coming to Mayfaire Town Center this year?

Additions include Free People, FP Movement, an expanded Reeds Jewelers, and a relocated lululemon.

What new stores will open at Mayfaire Community Center?

New stores at Mayfaire Community Center include Vochos Urban Mexican Kitchen, Potbelly Sandwich Shop, and a reopened Chick-fil-A.

When is the grand opening of Reeds Jewelers' flagship store?

The grand opening for Reeds Jewelers' newly renovated and expanded flagship store is planned for July.