CBL Plans 1M SF of New Space

CHATTANOOGA, TN-CBL & Associates executives are planning that 1.3 million sf of developments will come on-line next year that they have announced so far, compared to this year’s expected 2.6 million sf, says Charles B. Lebovitz, the company’s chairman and CEO. Most of next year’s new space will be made up of additions at new centers.

The 445,000-sf first phase of the 1.7-million-sf Gulf Coast Town Center, and open-air center outside of Ft. Myers, FL, is scheduled to open in October. The second phase, which will have a Bass Pro Shops, Belk department store, J.C. Penney and other anchor tenants, is slated to begin by the end of the year.

Executives also announced that the 438,000-sf Southaven (MS) Towne Center is now 100% leased, with retailers such as Circuit City, Cost Plus World Market and Logan’s Restaurant, and is set to open in October. A Dillard’s anchor is scheduled to complete the center next spring.