CBL reports on mall transformation progress

|About: CBL & Associates Properties... (CBL)|By:, SA News Editor

CBL Properties (NYSE:CBL) says 24 former anchor spaces are committed or under construction, including eight already open and six scheduled to open by year-end.

The REIT is adding new uses such as entertainment, value retail, multi-family, hotels, office, and grocery to its properties.

“Our vision of transforming our properties from traditional enclosed malls to suburban town centers is coming to fruition through the addition of new entertainment uses such as WhirlyBall, Dave & Buster’s and Main Event; fitness uses such as TruFit and O2 Fitness; and other non‑traditional uses like casinos, office, hotels, grocery and multi-family,” said CEO Stephen Lebovitz.

The market isn't impressed; CBL falls 2.2% in early in the session

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