Stephen Lebovitz

CHATTANOOGA, TN—CBL Properties recently announced progress on its redevelopment initiative to transform its retail properties into suburban town centers with, amongst other amenities, the addition of new in-demand uses. New offerings include dining options such as The Cheesecake Factory and Portillo's; fitness outlets such as O2 Fitness and Gold's Gym, plus discount retailers HomeGoods, Five Below and Marshalls.

“Our approach to redevelopment is not cookie cutter and each project is based on the current and projected demand in the market,” says Stephen Lebovitz, CEO, CBL Properties. “Our vision is to transform our properties from traditional enclosed malls into suburban town centers that offer a variety of uses. As part of our redevelopment projects, we are pursuing more dining and entertainment venues such as The Cheesecake Factory and Dave & Busters. We are adding casinos at two properties, which is the ultimate combination of dining and entertainment, and have the potential to spur additional development around each site. We will also include more fitness uses, value-oriented retail, service, medical and in certain markets multi-family, hotel and office uses.”

Over the course of 2018, CBL completed nine redevelopment projects totaling 260,000 square feet.