CBL Announces Expansion of Cross Creek Mall in Fayetteville, NC
CBL & Associates Properties, Inc. (NYSE: CBL), today announced an expansion of Cross Creek Mall in Fayetteville, NC. The 46,000-square-foot expansion will deliver a number of exciting new retailers to the fully leased center including Chico's, LOFT, White House | Black Market, Men's Wearhouse, Reed's Jewelers, and Lane Bryant. Additional stores and restaurants will be announced as the project progresses. Construction on the expansion is scheduled to begin in early 2013, with a grand opening anticipated in late fall 2013.
“The expansion of Cross Creek Mall allows us to further the tremendous growth of one of our most successful and productive centers as well as reinforce its dominant position in the market,” said Michael Lebovitz, executive vice president – development and administration. “The mall continually maintains a full occupancy rate, and the queue of retailers interested in joining the center is growing. We will be pleased to introduce a number of new retail names to the market at its opening in late 2013, which, along with the renovation that was recently completed, demonstrates our commitment to continually enhancing our properties.”
Cross Creek Mall is a 1.0-million-square foot enclosed regional mall located in Fayetteville, NC. The mall is well-situated at the intersection of Morganton Road and Skibo Road (the main artery of Fayetteville with upwards of 150,000 cars traveling daily). Cross Creek Mall is the only super regional mall within a 60-mile radius. Fayetteville is home to Fort Bragg U.S. Army installation, which supports more than 60,000 active duty personnel. The total economic impact of the military presence in Fayetteville is more than $9.5 billion a year. As a result of the Fort Bragg Regional Alliance recommendations, Fayetteville has recently transformed into a four-star installation.
Cross Creek Mall is anchored by Belk, Macy's JCPenney, and Sears and features more than 150 specialty retailers including Aéropostale, Bath & Body Works, Buckle, The Children's Place, Express, Foot Locker, Forever 21, The Disney Store, Gymboree, Red Robin Gourmet Burgers, and Victoria's Secret. Cross Creek Mall just received a multi-million dollar renovation featuring new entrances, new flooring and a renovated food court.
Businesses interested in obtaining leasing information about Cross Creek Mall should contact Laura Farren at 423.490.8620 or firstname.lastname@example.org.
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interest in or manages 162 properties, including 93 regional malls/open-air centers. The properties are located in 27 states and total 92.9 million square feet including 9.4 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.
Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" incorporated by reference therein, for a discussion of such risks and uncertainties.