Chattanooga based CBL & Associates has purchased the Sears contract for their space in Cool Springs Galleria to redevelop the location. The idea is to take the lesser performing Sears store out of the mall’s mix and redevelop the space for high end specialty attractions.
“The acquisition of these Sears stores will allow us to create substantial value at two of our most productive malls,” said Stephen Lebovitz, CBL president and chief executive officer. “We have plans to redevelop and expand both buildings to create space for new high-end specialty stores and restaurants designed to augment each properties’ market-dominant position and enhance their strong growth rates. Additional details on these exciting projects will be announced in the near future.” The quote references multiple stores as CBL also acquired a Sears location in Lexington, KY.
Look forward to exciting changes at Cool Springs Galleria in the next year!
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