CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE:CBL) today announced future
plans to transform Cary Towne Center in Cary, North Carolina, into a
dynamic mixed-use destination. Last week’s announcement by IKEA of its
proposal to build a store adjacent to Cary Towne Center provides a
keystone attraction for the project and a catalyst for its redevelopment.
Over the last several months, CBL has worked with the town of Cary to
start the rezoning process with the goal of creating a flexible land use
that will facilitate a creative, modern, multi-phase and multi-use
redevelopment. CBL is evaluating a number of redevelopment scenarios
that could feature a mix of premier retail, dining, and entertainment
options as well as residential, grocery, office, and green space. CBL
has commissioned Dwell Design Studio, a nationally respected mixed-use
planner and the architect of record for a number of the country’s highly
regarded and successful mixed-use destinations.
“CBL is thrilled that IKEA has chosen Cary Towne Center for its next
potential location in North Carolina. We are committed to executing a
progressive redevelopment of the project that seamlessly complements the
proposed IKEA store and is reflective of the vision and unique
characteristics of the market,” said Stephen Lebovitz, president and CEO
of CBL & Associates Properties, Inc. “Cary Towne Center is ideally
located, and there is strong demand to elevate the center to the next
level.”
Businesses interested in obtaining information about the Cary Towne
Center redevelopment should contact Jon Meshel, Vice President –
Development/Redevelopment at Jon.Meshel@cblproperties.com
or 423.490.8269.
About CBL & Associates Properties, Inc.
Headquartered in Chattanooga, TN, 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 123 properties,
including 80 regional malls/open-air centers. The properties are located
in 27 states and total 76.9 million square feet including 5.9 million
square feet of non-owned shopping centers managed for third parties.
Additional information can be found at cblproperties.com.
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CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Executive
Vice President – Chief Investment Officer
katie.reinsmidt@cblproperties.com
or
Media
Contact:
Stacey Keating, 423-490-8361
Director – Public
Relations & Corporate Communications
stacey.keating@cblproperties.com
Source: CBL & Associates Properties, Inc.