REAL ESTATE

CBL launches redesigned corporate and mall websites

BY CSA STAFF

Chattanooga, Tenn. CBL & Associates Properties said Thursday that it has implemented a new corporate-wide web strategy that includes a new corporate website, as well as new websites for each of its regional malls throughout the country.

The web strategy features a “complete loop” communication process. According to CBL, the new approach will provide an entirely new look for the websites and introduce more user-friendly options.

“The new websites engage the online visitor by offering a complete collection of information, providing business partners, investors and consumers with the ability to learn more about CBL as well as the individual centers and what each one has to offer,” said Barb J. Faucette, VP mall marketing. “The focus is on function and ease of navigation, as well as expanding online resources.”

For business partners, the web platform enables national and local partners to better reach and communicate with customers at the property, via the website and through the company’s outreach to consumers via social networking.

The mall websites will feature up-to-date store directories, the latest sale activities, events and news information.

“This user-friendly content will make virtual visits to any CBL center even more exciting and informative. Virtual visitors to select CBL centers can register to follow ‘tweets’ or ‘friend us’ on today’s hottest social networking sites,” added Faucette.

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REAL ESTATE

Cole acquires major portion of Manchester Highlands Shopping Center

BY CSA STAFF

Manchester, Mo. St. Louis-based developer Pace Properties has sold a major portion of Manchester Highlands shopping center, in Manchester, Mo., to Phoenix-based Cole Real Estate Investments for $48.5 million.

The acquired assets include 29 acres occupied by a Wal-Mart Supercenter plus a group of junior anchor and in-line space totaling 136,000 sq. ft. The center is 98% leased.

Pace retains ownership of two new retail buildings hosting a combined 12,000 sq. ft. located on the northern end of the shopping center, as well as two undeveloped out-lots totaling three acres east of Manchester Highlands Drive.

Pace will continue to manage and lease Manchester Highlands.

Pace opened the first phase of Manchester Highlands in late 2008. Major tenants complementing Wal-Mart include Best Buy, PetSmart, Bed Bath & Beyond, Ulta Salon and Carters Children’s Wear. Additionally, a Costco Warehouse Club owned by Costco is on the Manchester Highlands site.

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Bed Bath & Beyond to open in former Linens ’N Things space

BY CSA STAFF

Vienna, Va. Chevy Chase, Md.-based JBG Rosenfeld Retail said it has finalized a deal with Bed Bath & Beyond for a 56,500-sq.-ft. space in Vienna, Va., that was formerly home to Linens ’N Things.

The new Bed Bath & Beyond, located in the heart of the Tysons Corner area, is a relocation space for the retailer and will open during the fourth quarter of this year.

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