CBL Properties Opens Over 1.4 Million Square Feet of New Retail, Dining and Other Uses in 2020 With More New Openings Planned For 2021

Company Release - 12/7/2020

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL Properties (OTCMKTS:CBLAQ) today announced that nearly 1.4 million square feet of new retail, dining and other uses have opened across its portfolio since January 2020, furthering the transformation of CBL’s properties into a portfolio of market-dominant suburban town centers.

“CBL’s team has delivered amazing and highly creative uses across the CBL portfolio this year, including a first‑class mix of national brands as well as regional and local operators,” said Stephen Lebovitz, chief executive officer, CBL Properties. “Despite the challenges our industry has faced in 2020, expanding brands and new businesses recognize the value of CBL’s market-dominant properties as they open new locations.”

New store openings across the CBL portfolio include unique uses such as Live! Casino Pittsburgh at Westmoreland Mall outside of Pittsburgh, PA, Main Event at Mall del Norte in Laredo, TX, and Southerns Live Music and Entertainment at Post Oak Mall in College Station, TX. CBL welcomed the first OFFLINE by American Eagle location in the country at CoolSprings Galleria in Nashville, TN, as well as one-of-a-kind boutiques such as Hollie Ray Boutique at CoolSprings and Rose & Remington at Fayette Mall in Lexington, KY. Several new sporting goods locations celebrated grand openings this year with the new DICK’S Sporting Goods/Golf Galaxy at Coastal Grand in Myrtle Beach, SC, DICK’S Sporting Goods at Hamilton Place in Chattanooga, TN, and the new DICK’S Sporting Goods clearance concept at the Annex at Monroeville in Monroeville, PA. Openings also included more than 14 new dining options, including Party Fowl at CoolSprings Galleria, four entertainment uses, as well as fitness, service and other uses.

Even more exclusive, in-demand uses are on tap to open through the remainder of the year and into 2021 across the CBL portfolio. Whole Foods is expected to open at Gunbarrel Point in Chattanooga, TN, in December, and just in time for the holidays, more than two dozen CBL properties will welcome new Hot Topic and Box Lunch kiosks as well as a Bath & Body Works buy online pick up in store location, designed to ease the holiday rush. As we move into 2021, TruFit Athletic Club will celebrate its grand opening during the first quarter at Sunrise Mall in Brownsville, TX, West Towne Mall in Madison, WI, will welcome a new Hobby Lobby in the Spring, and Hollywood Casino is scheduled to open later in the year at York Galleria in York, PA.

Lebovitz added, “For the last several years, we’ve been challenging our leasing team to deliver the imaginative uses that our customers are asking for, and I am proud to say that they have delivered. We look forward to continuing to bring original and inventive stores and experiences to our properties.”

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 107 properties totaling 66.7 million square feet across 26 states, including 65 high-quality enclosed, outlet and open-air retail centers and 8 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.

Investor Contact: Katie Reinsmidt, EVP & Chief Investment Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Media Contact: Stacey Keating, Sr. Director of Public Relations & Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com

Source: CBL Properties