Construction is Underway on Phase I of the Project
CHATTANOOGA, Tenn. & COVINGTON, La.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc., (NYSE: CBL) and Stirling Properties
today announced that Dillard’s (Dillard’s, Inc. NYSE: DDS) will anchor
the fashion-oriented Phase II of Fremaux Town Center in Slidell,
Louisiana.
Phase I of the project is currently under construction with
approximately 330,000 square feet anchored by Kohl’s, Dick’s Sporting
Goods, Michael’s, T.J.Maxx, and Best Buy. Phase II will include up to
320,000 square feet of additional retail space. The grand opening for
Phase I is scheduled for March 2014, with construction on Phase II set
to begin around that same time with an opening in spring 2015.
“With construction underway on Phase I, we are pleased to welcome a key
department store such as Dillard’s to Phase II,” said Michael Lebovitz,
CBL’s executive vice president – development and administration. “The
traction we are receiving from retailers for both phases is a testament
to the strength of the market and its increasing demand for retail.”
“Fremaux Town Center has tremendous momentum at this stage and we are
thrilled with Dillard’s decision to join the project,” said Townsend
Underhill, Stirling Properties’ senior vice president of development.
“Upon completion of both phases we believe this project will be the
premiere retail property in the Slidell market and something that local
residents can be very proud of.”
Dillard’s will open a single-level, 126,000-square-foot store featuring
a large selection of fashion apparel, cosmetics and home merchandise
tailored specifically to the tastes and preferences of Dillard’s
Slidell-area customers. These assortments will reflect the Company's
strong commitment to provide shoppers with more choices in premium
brands, including Dillard’s exclusive- label merchandise. Dillard’s at
Fremaux Town Center will feature the Company’s latest advances in store
design and presentation.
Dillard’s Chief Executive Officer, William Dillard, II, stated, “We are
pleased to announce our commitment to Fremaux Town Center. We enjoy a
strong relationship with our Slidell area customers and we are looking
forward to serving them at an even higher level. CBL and Stirling
Properties are building a premier destination center and we are happy to
be part of it.”
Fremaux Town Center Phase I is currently more than 70% leased with
committed retailers such as Dick’s
Sporting Goods, Michaels,
Kohl’s,
PetSmart,
T.J.Maxx,
LongHorn
Steakhouse, dressbarn,
ULTA
Beauty, Lane
Bryant, Rack
Room Shoes, Best
Buy and Versona
Accessories. Fremaux Town Center will be located on more than 80
acres at the southwest corner of Interstate 10 and Fremaux Avenue in
Slidell, LA. Slidell is the largest municipality in St. Tammany Parish
on the northern shore of Lake Pontchartrain near the city of New
Orleans. The area has experienced significant growth following Hurricane
Katrina. With its interstate location and high-visibility, Fremaux Town
Center is expected to become a regional destination. Stirling is leading
the development of the project and CBL and Stirling are jointly leasing
and marketing the center.
For leasing information, please contact Ryan
Pecot by telephone at 337.572.0246 or by email at rpecot@stirlingprop.com
or Rodney Gordon by telephone at 423.553.8704 or by email at rodney_gordon@cblproperties.com.
For information on available outparcels, please contact Ryan Pecot or
Robert Snetman by telephone at 423.490.8333 or by email at robert_snetman@cblproperties.com
About Dillard’s, Inc.
Dillard’s, Inc. ranks among the nation’s largest fashion apparel and
home furnishings retailers with annual revenues exceeding $6.5 billion.
The Company focuses on delivering maximum fashion and value to its
shoppers by offering compelling apparel and home selections complemented
by exceptional customer care. Dillard’s stores offer a broad selection
of merchandise and feature products from both national and exclusive
brand sources. The Company operates 283 Dillard’s locations and 18
clearance centers spanning 29 states. For more information about
Dillard’s, please visit www.dillards.com.
About Stirling Properties
A member of the Retail Brokers Network, Stirling Properties is a
regional real estate firm offering comprehensive services in
development; commercial brokerage; property and asset management;
investment sales; and property owner and tenant representation. Stirling
Properties’ portfolio includes over 14 million square feet of managed
property and 60 million square feet of commercial properties for sale or
lease. With offices located in Jackson, Mississippi; Baton Rouge,
Lafayette, New Orleans, Metairie, Covington, Hammond, and
Shreveport/Bossier City in Louisiana, Stirling is one of the largest
real estate firms in the Gulf South. Connect with Stirling Properties on
the web at www.stirlingproperties.com,
“like” us at facebook.com/stirlingproperties,
follow us @StirlingProp on twitter.com/StirlingProp
or subscribe to our Stirling
Insights blog.
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls
and shopping centers in the United States. CBL owns, holds interests in
or manages 158 properties, including 96 regional malls/open-air centers.
The properties are located in 31 states and total 92.7 million square
feet including 10.5 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
Source: CBL & Associates Properties, Inc.