CBL Properties Announces First Phase Redevelopment Plans at Brookfield Square in Milwaukee, Wisconsin

CBL Properties (NYSE:CBL) today announced the first phase of redevelopment plans for the former Sears building at Brookfield Square in Milwaukee, Wisconsin. The redevelopment will deliver new dining and entertainment options, including new-to-market entertainment concept, WhirlyBall, and BistroPlexSM from Marcus Theatres®, which combines dining and moviegoing in every auditorium. Construction on the project is set to begin in early April. Planning is underway for additional phases of the redevelopment, which will include new dining options and other non-retail uses. More details will be announced over the coming months.

“The addition of WhirlyBall and BistroPlex will further enhance Brookfield Square’s position as the premier dining and entertainment destination in the greater Milwaukee market. Since acquiring the Sears building last year and announcing our plans for future redevelopment, we have received significant demand from a variety of users interested in being a part of this transformative project,” said Stephen Lebovitz, president & CEO, CBL Properties. “We are thrilled to confirm the addition of these two world-class entertainment venues and commence construction.”

WhirlyBall offers a premium social experience featuring indoor entertainment paired with a chef inspired menu, rotating craft beer and seasonal cocktails. Open to all skill levels, the game of WhirlyBall can be described as a combination of lacrosse and bumper cars played by two teams of five. The two-story Brookfield Square restaurant entertainment venue will feature two famed WhirlyBall courts, 8 bowling lanes with lane-side service, a 4 lane VIP Bowling Suite and a multi-level LaserTag arena. In addition to activities, WhirlyBall will also offer a full service restaurant and bar, private and semi-private event spaces and an outdoor patio and terrace.

“We’re thrilled to join the Milwaukee community alongside BistroPlex,” said Adam Elias, WhirlyBall’s Vice President of Strategic Planning. “We’ve always been interested in expanding to the Wisconsin market and the Brookfield Square redevelopment was the perfect opportunity to do so. We look forward to bringing a new experience to the community for locals and visitors to enjoy.”

Described as a restaurant that serves movies, the new BistroPlex at Brookfield Square will feature in-theatre dining in every auditorium, as well as a separate, full-service bar and lounge area. Each auditorium will feature Marcus Theatres’ signature DreamLounger℠ recliner seating that provides guests with all the comforts of home in a social setting. It will also include an outdoor dining option.

“We are excited to break ground on our next BistroPlex location,” said Rolando Rodriguez, chairman, president and CEO of Marcus Theatres. “Today’s guests want comfort, convenience and a complete dining and entertainment destination under one roof. This new option delivers that unique experience in a way that is complementary to the development and the needs of this growing market area.”

Project renderings are available for download on CBL’s website or by clicking here. Please note that renderings are subject to change.

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 119 properties totaling 74.4 million square feet across 27 states, including 76 high-quality enclosed, outlet and open-air retail centers and 12 properties managed for third parties. CBL continuously strengthens 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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CBL PropertiesInvestor Contact:Katie Reinsmidt, 423-490-8301Executive Vice President & Chief Investment [e-mail] Contact:Stacey Keating, 423-490-8361Director of Public Relations & Corporate [e-mail]