CBL Properties Sees Strong Demand From New Retail and Non-Traditional Tenants

Over the last several months, CBL Properties (NYSE:CBL) has welcomed a number of new retail, service, entertainment and restaurant concepts to its portfolio with more openings planned for 2024 and beyond.

“We’re having great success diversifying the offerings at our properties and are seeing strong retail and non-retail leasing activity across our portfolio,” said Stephen Lebovitz, chief executive officer, CBL Properties. “Over the last few months, we’ve welcomed Stars and Strikes to Coastal Grand in Myrtle Beach, South Carolina and Main Event to Cross Creek Mall in Fayetteville, North Carolina. In North Dakota, Tilt Studios opened at Dakota Square in Minot and Kirkwood Mall in Bismarck. Entertainment brands see the value of locating in our properties as they are the center of the communities they serve.”

In addition to new entertainment venues, CBL has also welcomed new restaurants like Bubba’s 33 at Sunrise Mall in Brownsville, Texas; Bahama Breeze at Cross Creek Mall and Community Pie at Hamilton Place in Chattanooga, Tennessee. New retail additions include Warby Parker at Friendly Center in Greensboro, North Carolina; Rose & Remington at CoolSprings Galleria in Nashville, Tennessee; Five Below at Kirkwood Mall; Nordstrom Rack at The Terrace at Hamilton Place in Chattanooga, Tennessee and Anthropologie at Mayfaire in Wilmington, North Carolina.

Lebovitz added, “As we look ahead to 2024 and beyond, we expect a busy year of exciting openings.”

Year-to-date through November, CBL has deals executed with three fitness centers, four entertainment concepts, three hotels, 16 restaurants, four medical uses, including a medical office building and eight other non-retail tenants. Expected 2024 openings include Crunch Fitness, Taco Mamacita and Malone’s at Hamilton Place; Razoo’s Cajun Café at Cross Creek Mall, Planet Fitness at West Towne Mall, Crunch Fitness at Coastal Grand and Bubba’s 33 at Valley View Mall in Roanoke, Virginia.

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 owned and managed portfolio is comprised of 94 properties totaling 58.5 million square feet across 22 states, including 56 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. 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.

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Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Operating Officer, 423.490.8301, [e-mail]

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