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CBL Announces Acquisition and Planned Redevelopment of Two Sears Anchor Locations at Top CBL Malls

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CBL & Associates Properties, Inc. (NYSE: CBL), today announced that it had acquired two Sears locations at CBL's Fayette Mall in Lexington, KY, and CoolSprings Galleria in Nashville, TN. Sears will continue to operate in both locations until closing dates have been finalized.

“The acquisition of these Sears stores will allow us to create substantial value at two of our most productive malls,” said Stephen Lebovitz, president and chief executive officer. “We have plans to redevelop and expand both buildings to create space for new high-end specialty stores and restaurants designed to augment each properties' market-dominant position and enhance their strong growth rates. Additional details on these exciting projects will be announced in the near future.”

Businesses interested in obtaining leasing information about Fayette Mall should contact: Travis Farren Regional Leasing Director 423.490.8360 travis_farren@cblproperties.com Businesses interested in obtaining leasing information about CoolSprings Galleria should contact: Laura Farren Senior Leasing Manager 423.490.8620 laura_farren@cblproperties.com

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.

Posted-In: News Asset Sales Press Releases

 

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