CBL Properties (NYSE:CBL) announced redevelopment plans at Northwoods Mall in North Charleston, South Carolina, and South County Center in St. Louis, Missouri. The redevelopments will deliver a new-to-market entertainment venue, Round1 Bowling & Amusement, to both properties.
“The addition of Round1 will position both Northwoods Mall and South County Center as premier entertainment destinations for our customers in these markets and will draw visitors from the surrounding regions,” said Stephen Lebovitz, chief executive officer, CBL Properties. “In the first quarter of 2019, 80% of our new leasing was with non-apparel tenants such as Round1, demonstrating our success in diversifying our tenant mix and bringing our vision of transforming our properties into suburban town centers to life.”
Round1 originated in 1980 and, with the support from fans and customers, has successfully grown into more than 100 locations in Japan. Its first overseas expansion targeted the United States as the company opened up its first U.S. store in Industry, California, in August of 2010. Round1 is a multi-entertainment activity complex company that offers bowling, an arcade, karaoke, billiards, food and drinks.
“We are excited to open stores at Northwoods Mall and South County Center. These locations will be the first in each state,” commented Shane Kaji, Executive Vice President, Round1. “We hope to bring our unparalleled family entertainment experience to the community and will strive to provide unforgettable service to all customers.”
Round1 at Northwoods Mall will occupy approximately 46,000 square feet of reconfigured small shop space. Round1 at South County Center will occupy approximately 50,000 square feet at the center. Construction on both projects is set to begin later this year. More details will be announced as plans are finalized.
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 113 properties totaling 70.6 million square feet across 26 states, including 70 high-quality enclosed, outlet and open-air retail centers and 10 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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Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Investment Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Media Contact: Stacey Keating, Director of Public Relations & Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com