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CBL Properties to Add Four Entertainment Centers at Malls in North Dakota, North Carolina and South Carolina

12/05/2022

CBL Properties (NYSE:CBL) today announced the addition of Tilt Studios to its two North Dakota properties, Dakota Square in Minot and Kirkwood Mall in Bismarck, as well as Stars and Strikes at Coastal Grand in Myrtle Beach, South Carolina, and Main Event at Cross Creek Mall in Fayetteville, North Carolina.

“We are pleased to announce the additions of Tilt, Main Event, and Stars and Strikes, further diversifying the mix of tenants available at each of these properties and solidifying them as entertainment destinations in their respective markets,” said Stephen Lebovitz, chief executive officer. “Over the last several years we’ve experienced an increase in demand from entertainment users, opening 11 large-scale family-friendly entertainment options across our portfolio since 2017 with nearly a half dozen more in various stages of negotiation.”

At Dakota Square Mall, Tilt will open in the former Scheels location, occupying nearly 50,000 square feet. Scheels recently relocated and expanded to the former Sears building at the property. Tilt at Kirkwood Mall, located in the former Herberger’s building, will occupy 92,500 square feet. A redevelopment of the adjacent parking lot was completed in May, adding new dining options to the property, including Chick-fil-A, Blaze Pizza, and Panchero’s Mexican Grill. Tilt at Dakota Square is scheduled to open in December and Tilt at Kirkwood Mall will open in 2023.

Stars and Strikes at Coastal Grand Mall will occupy 52,000 square feet replacing DICK’S Sporting Goods, which recently expanded and relocated in a new location at the property, adding its popular golf concept, Golf Galaxy.

At Cross Creek Mall, Main Event will occupy approximately 38,000 square feet. The addition is part of the property’s Sears redevelopment project that also included the addition of Rooms To Go and Longhorn Steakhouse.

Lebovitz added, “Leasing demand at our properties is back to pre-pandemic levels with nearly three million square feet leased through the third quarter of 2022.”

In addition to new entertainment uses, CBL has a number of other non-retail uses in various stages of negotiation, including one multi-family project, four hotels, seven medical uses, nine other non-retail uses, and 23 restaurants.

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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Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Investment 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

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