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CBL Properties Opens More Than 1.7 Million Square Feet of New Retail, Dining, Entertainment, and Other Uses in 2021 With More in Store For 2022
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Rhea-AI Summary
CBL Properties (NYSE: CBL) has opened over 1.7 million square feet of retail, dining, and entertainment space since January, indicating strong leasing demand. CEO Stephen Lebovitz noted significant increases in traffic and double-digit sales growth portfolio-wide. Notable new openings include Hollywood Casino at York Galleria Mall and Aloft by Marriott in Chattanooga. Looking ahead, several new tenants like Von Maur and OFFLINE by Aerie are expected in 2022. CBL owns and manages 99 properties across 24 states, totaling 63 million square feet.
Positive
Over 1.7 million square feet of new retail, dining, and entertainment space opened since January.
Double-digit portfolio sales increases reported.
Strong demand for space from both national and local tenants.
New notable openings include Hollywood Casino and Aloft by Marriott.
Negative
None.
Solid leasing demand, coupled with increased traffic and sales, positions CBL to finish the year strong and kick off 2022 with positive momentum
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL Properties (NYSE: CBL) today announced that more than 1.7 million square feet of new retail, dining, entertainment, and other uses have opened across its portfolio since January.
“Over the past year, CBL’s team has elevated our properties by combining retail, dining, and entertainment along with a variety of other mixed uses,” said Stephen Lebovitz, chief executive officer, CBL Properties. “Traffic levels have rebounded over the last several months and double-digit portfolio sales increases have continued, leading to growing demand for space in our properties. We’re thrilled to celebrate the addition of so many new stores.”
New openings across the CBL portfolio include unique uses such as Hollywood Casinoat York Galleria Mall in York, Pennsylvania; the expansion of High Caliber Karting & Entertainment at Meridian Mall in Okemos, Michigan; Aloft by Marriott hotel and Trader Joe’s at Hamilton Place in Chattanooga, Tennessee; Tilt at Richland Mall in Waco, Texas that opens next week; and the first Belong Gaming location in the United States at Pearland Town Center in Pearland, Texas. CBL also welcomed OFFLINE by Aerie to Fayette Mall in Lexington, Kentucky; Pottery Barn at Friendly Center in Greensboro, North Carolina; and Tradehome Shoes at both Oak Park Mall in Kansas City, Kansas and Post Oak Mall in College Station, Texas.
In addition to the many well-known national brands that opened their doors at CBL malls this year, demand among local and regional tenants has also increased. “We have added a number of unique local tenants to our portfolio over the last year, including BLCK Market at Pearland Town Center and Sports Center at Fayette Mall,” added Lebovitz.
As we look ahead to 2022, Von Maur will open at West Towne Mall in Madison, Wisconsin; OFFLINE by Aerie, Rose & Remington and Palmetto Moon at Hamilton Place; Main Event at Sunrise Mall in Brownsville, Texas; and a new and expanded Scheels at Dakota Square Mall in Minot, North Dakota.
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 99 properties totaling 63.0 million square feet across 24 states, including 61 high-quality enclosed, outlet and open-air retail centers and five properties managed for third parties. 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.
