Valley View Mall

CBL Properties and MINISO Partner to Expand Its U.S. Presence to Thirteen CBL Malls

Retrieved on: 
Thursday, March 21, 2024
Generation X, Men, Retail, Millennials, Consumer, Commercial Building & Real Estate, Construction & Property, Discount, Variety, Lifestyle, Department Stores, Teens, Women, Generation Z, Fashion, Post Oak Mall, Coastal Grand Mall, Hanes Mall, Garage, CBL, Restaurant, Valley View Mall, Aerie, CBL Properties, CoolSprings Galleria, Kirkwood Mall

Today CBL Properties (NYSE:CBL) announced it has executed multiple deals with global lifestyle retailer MINISO, expanding the brand’s presence to a dozen new markets in the United States.

Key Points: 
  • Today CBL Properties (NYSE:CBL) announced it has executed multiple deals with global lifestyle retailer MINISO, expanding the brand’s presence to a dozen new markets in the United States.
  • “We are thrilled to work with MINISO to add to their U.S. store fleet at CBL properties across the south, east coast, and Midwest,” said Stephen Lebovitz, chief executive officer, CBL Properties.
  • “MINISO is an innovative retailer catering to a generation of customers who over the last few years have shown a preference for shopping at malls.
  • These stores are becoming a destination for visitors to our properties and complement the dynamic mix of retailers, restaurants, and entertainment they already offer.”
    In addition to MINISO, CBL is working with several brands that are working to expand their mall-based presence including Five Below, Aerie, Garage, and many others.

CBL Properties Sees Strong Demand From New Retail and Non-Traditional Tenants

Retrieved on: 
Monday, December 4, 2023
Commercial Building & Real Estate, Construction & Property, Department Stores, Finance, Other Retail, REIT, Professional Services, Restaurant, Bar, Retail, Planet Fitness, Anthropologie, Terrace, NYSE, CBL, Kirkwood Mall, Coastal Grand Mall, Dakota Square Mall, 100 St Georges Terrace, CoolSprings Galleria, Health, Valley View Mall, Crunch Fitness, Friendly Center, Nordstrom Rack, CBL Properties, West Towne Mall

Over the last several months, CBL Properties (NYSE:CBL) has welcomed a number of new retail, service, entertainment and restaurant concepts to its portfolio with more openings planned for 2024 and beyond.

Key Points: 
  • Over the last several months, CBL Properties (NYSE:CBL) has welcomed a number of new retail, service, entertainment and restaurant concepts to its portfolio with more openings planned for 2024 and beyond.
  • “We’re having great success diversifying the offerings at our properties and are seeing strong retail and non-retail leasing activity across our portfolio,” said Stephen Lebovitz, chief executive officer, CBL Properties.
  • “Over the last few months, we’ve welcomed Stars and Strikes to Coastal Grand in Myrtle Beach, South Carolina and Main Event to Cross Creek Mall in Fayetteville, North Carolina.
  • In North Dakota, Tilt Studios opened at Dakota Square in Minot and Kirkwood Mall in Bismarck.

PREIT Reports Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Wednesday, March 22, 2023
Springfield Town Center, Partnership, Plymouth, Face, Moorestown Mall, Comparable, Internet, Financial result, Line of credit, Willow Grove Park, OP, Foot, Prince George's County, Maryland, Whole Foods Market, Prognosis, Primary Dealer Credit Facility, Sale, Pearl, Plymouth Meeting Mall, FFO, Burlington, Prince George, Fashion District Philadelphia, Webcast, NOI, PREIT, Valley View Mall, Same-store sales, Hawaii Children's Discovery Center, Three Months, Family, Conference, Bank, Cryptocurrency, Commercial property, Retail, Department store, MD, Mall, Cumberland Mall

PHILADELPHIA, March 22, 2023 /PRNewswire/ -- PREIT (OTC:PRET) today reported results for the three months and year ended December 31, 2022. A description of each non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is provided in the tables accompanying this release.

Key Points: 
  • For the rolling 12 month period ended December 31, 2022, core mall comparable sales grew to $596 per square foot, compared to $539 in 2019.
  • Average renewal spreads for the three months and year ended December 31, 2022 were -5.6% and 1.1%, respectively.
  • Since the beginning of 2022, the Company sold assets generating just over $141 million in gross proceeds.
  • Additional information regarding changes in operating results for the three months and year ended December 31, 2022 and 2021 is included on page 15.

PREIT Completes Extension of Key Mortgage Maturity and Provides Update on Asset Sales

Retrieved on: 
Tuesday, January 3, 2023
OTC, Security (finance), Annual report, Woodland Mall, REI, Primary Dealer Credit Facility, Johnson Health Tech, Vandalism, PREIT, COVID-19, Urban Outfitters, Pottery Barn, Apple, Weather, Failure, Valley View Mall, Public health, Violence, Phoenix Theatre, London, Williams Sonoma (brand), Bankruptcy, Risk, Sale, Sephora, Commercial property

PREIT also completed the sale of a former department store space at Valley View Mall for gross proceeds of $2.6 million.

Key Points: 
  • PREIT also completed the sale of a former department store space at Valley View Mall for gross proceeds of $2.6 million.
  • "We are pleased to have secured this key extension, having also recently extended the maturity date on our Credit Facilities, meaningful milestones for our debt maturity schedule," said Joseph F. Coradino, Chairman and CEO of PREIT.
  • "Executing on asset sales and utilizing excess cash to pay down debt is a top priority for PREIT as we start 2023."
  • We do not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.