CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE: CBL), today announced an
expansion of Cross Creek Mall in Fayetteville, NC. The
46,000-square-foot expansion will deliver a number of exciting new
retailers to the fully leased center including Chico’s, LOFT,
White House | Black Market, Men’s Wearhouse, Reed’s Jewelers, and Lane
Bryant. Additional stores and restaurants will be announced as the
project progresses. Construction on the expansion is scheduled to begin
in early 2013, with a grand opening anticipated in late fall 2013.
“The expansion of Cross Creek Mall allows us to further the tremendous
growth of one of our most successful and productive centers as well as
reinforce its dominant position in the market,” said Michael Lebovitz,
executive vice president – development and administration. “The mall
continually maintains a full occupancy rate, and the queue of retailers
interested in joining the center is growing. We will be pleased to
introduce a number of new retail names to the market at its opening in
late 2013, which, along with the renovation that was recently completed,
demonstrates our commitment to continually enhancing our properties.”
Cross Creek Mall is a 1.0-million-square foot enclosed regional mall
located in Fayetteville, NC. The mall is well-situated at the
intersection of Morganton Road and Skibo Road (the main artery of
Fayetteville with upwards of 150,000 cars traveling daily). Cross Creek
Mall is the only super regional mall within a 60-mile radius.
Fayetteville is home to Fort Bragg U.S. Army installation, which
supports more than 60,000 active duty personnel. The total economic
impact of the military presence in Fayetteville is more than $9.5
billion a year. As a result of the Fort Bragg Regional Alliance
recommendations, Fayetteville has recently transformed into a four-star
installation.
Cross Creek Mall is anchored by Belk, Macy’s JCPenney, and Sears and
features more than 150 specialty retailers including Aéropostale, Bath &
Body Works, Buckle, The Children’s Place, Express, Foot Locker, Forever
21, The Disney Store, Gymboree, Red Robin Gourmet Burgers, and
Victoria’s Secret. Cross Creek Mall just received a multi-million dollar
renovation featuring new entrances, new flooring and a renovated food
court.
Businesses interested in obtaining leasing information about Cross Creek
Mall should contact Laura Farren at 423.490.8620 or laura_farren@cblproperties.com.
CBL is one of the largest and most active owners and developers of malls
and shopping centers in the United States. CBL owns, holds interest in
or manages 162 properties, including 93 regional malls/open-air centers.
The properties are located in 27 states and total 92.9 million square
feet including 9.4 million square feet of non-owned shopping centers
managed for third parties. Headquartered in Chattanooga, TN, CBL has
regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St.
Louis, MO. Additional information can be found at 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" incorporated by reference therein, for a
discussion of such risks and uncertainties.
CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Senior
Vice President - Investor Relations and Corporate Investments
katie_reinsmidt@cblproperties.com
or
Mall
Contact:
Tammy Hopkins, 910-868-7668 ex. 262
Marketing
Specialist
tammy_hopkins@cblproperties.com
Source: CBL & Associates Properties, Inc.