CBL Properties Further Enhances Offerings at Parkdale Mall in Beaumont, Texas

Business Wire 1-Nov-2018 3:30 PM

CBL Properties (NYSE:CBL) today announced plans to redevelop the former Macy's location at Parkdale Mall in Beaumont, Texas. The nearly 110,000-square-foot redevelopment includes the addition of DICK'S Sporting Goods, Five Below and a national home furnishing store.

"This announcement comes on the heels of other positive additions to Parkdale Mall over the last year, including the addition of family-friendly entertainment concept, Tilt Studio; Francesca's; and two unique dining options, Salata and R Taco, as well as the remodel and expansion of Victoria's Secret/PINK," said Stephen Lebovitz, chief executive officer, CBL Properties. "The addition of DICK'S Sporting Goods and additional value-oriented retail will complement and enhance the diverse mix already available at Parkdale, and we are excited to deliver these new tenants to our visitors in the Beaumont market next year."

Lebovitz added, "Through these anchor conversions, CBL's portfolio is being transformed from traditional malls to suburban town centers that offer not just great shopping, but also incredible dining options, health and wellness, entertainment and a variety of other uses. In 2018 alone, we have opened or are under construction on a dozen such redevelopment projects, and we look forward to reinventing additional properties in the coming months."

Construction on this project is currently underway with an anticipated opening in spring 2019.

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 114 properties totaling 71.9 million square feet across 26 states, including 73 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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