CBL adds 1.7 million sq. ft. of new uses in 2021

CBL Properties has added more than 1.7 million square feet of new retail, dining, entertainment, and other uses in the renovation of its malls and open-air shopping centers since January 2021.

The company, which emerged from Chapter 11 bankruptcy protection in November, is one of many mall chains seeking to brand its properties with regional identities by mixing local businesses in with national chain tenants.

“We have added a number of unique local tenants to our portfolio over the last year, including BLCK Market at Pearland Town Center and Sports Center at Fayette Mall,” said CEO Stephen Lebovitz.

According to  Lebovitz, the new tenant additions have elevated the consumer appeal and value of CBL’s retail centers. The Chattanooga, Tenn.-based company owns 99 properties comprising 63 million sq. ft. of GLA across 24 states.

“Traffic levels have rebounded over the last several months and double-digit portfolio sales increases have continued, leading to growing demand for space in our properties,” Lebovitz said.” We’re thrilled to celebrate the addition of so many new stores,”

New openings across the CBL portfolio include the Hollywood Casino at York Galleria Mall in York, Pennsylvania; the expansion of High Caliber Karting & Entertainment at Meridian Mall in Okemos, Michigan; Aloft by Marriott hotel and Trader Joe’s at Hamilton Place in Chattanooga, Tennessee and the first Belong Gaming location in the United States at Pearland Town Center in Pearland, Texas.

Looking  ahead to 2022, Von Maur will open at West Towne Mall in Madison, Wisconsin; OFFLINE by Aerie, Rose & Remington and Palmetto Moon at Hamilton Place; Main Event at Sunrise Mall in Brownsville, Texas; and a new and expanded Scheels at Dakota Square Mall in Minot, North Dakota.