CBL & Associates' 225,000-SF Retail Center Moves Forward

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ROYAL PALM BEACH, FL-CBL & Associates Properties Inc. has opened the 185,220-sf SuperTarget at its Cobblestone Village at Royal Palm Beach development here and is planning to begin work on 40,000 sf of small shop space in the center within weeks.The 225,000-sf shopping center’s small shop space has a scheduled grand opening of early summer 2005. Cobblestone Village was more than 70% preleased and committed at press time.”Cobblestone Village … will help meet the retail needs of the growth in this area,” CBL & Associates Properties Inc. president Stephen Lebovitz says in a statement. The center will include a strong tenant roster of national and regional retailers new in the market, he adds. Retailers that have committed to Cobblestone Village include Crispers restaurant, Cold Stone Creamery, Payless ShoeSource, Cingular Wireless, City Nails, Hair Cuttery, Wood Floors and an Asian fusion restaurant.The center is being developed on 25 acres on the northwest corner of Okeechobee Boulevard and State Route 7–an intersection that more than 100,000 cars pass through daily, according to CBL & Associates Properties.The shopping center will have an open-air, pedestrian-friendly environment, extensive landscaping, and design elements that reflect and complement the area’s historic buildings.CBL’s portfolio also includes three regional malls in Central and North Florida–Volusia Mall in Daytona Beach, Panama City Mall in Panama City and Lakeshore Mall in Sebring. CBL also owns interests in and manages six community centers in Florida, including Bartow Village in Bartow, Collins Park Commons in Plant City and Coastal Way in Spring Hill.In all, Chattanooga, TN-based CBL owns, holds interests in or manages 167 properties totaling 69.4 million sf in 27 states. Besides Cobblestone Village, CBL has 10 projects totaling about 2.5 million sf in the construction stage nationwide.