CONSTRUCTION BEGINS ON HOLLYWOOD THEATERS AT THE PAVILION AT PORT ORANGE IN PORT ORANGE, FL
CHATTANOOGA, TN. and AMHERST, NY (January 30, 2009) –CBL & Associates Properties, Inc. (NYSE: CBL) and The Benchmark Group today announced the start of construction on the state-of-the-art 14-screen Hollywood Theaters joining The Pavilion at Port Orange in Port Orange, FL. The 550,000-square-foot-open-air-development will also be anchored by Belk fashion department store along with junior anchors Homegoods/Marshall’s Megastore, Michaels and a national pet store. Additionally, The Pavilion at Port Orange will feature a wide selection of specialty retailers and restaurants including Cold Stone Creamery, David’s Bridal, Olive Garden, Rack Room Shoes, Red Robin Gourmet Burgers, and Visionworks. Hollywood Theaters will open at The Pavilion at Port Orange in fall 2009
“We are excited to have Hollywood Theaters begin construction at The Pavilion at Port Orange,” said Geoff Smith, CBL & Associates Properties, Inc., Vice President - Development. “The opening of the theater later this year will meet the growing demand in the area for a first-class entertainment destination.”
The new theater will deliver cutting edge 3-D technology and Dolby Digital Surround Sound in plush auditoriums fitted with stadium seating, high back rocking seats and wall-to-wall screens. Digital cinema ensures the highest quality presentation. Movie-goers will see a movie in perfect condition, exactly the way the director intended, whether they see it during the first or last week of the run.
Conveniently located at the northeast corner of Williams Boulevard and Taylor Road, The Pavilion at Port Orange will offer customers a unique shopping experience with Main Street style architecture, two-story themed buildings and extensive landscaping in an open-air pedestrian-friendly environment. A focal point of the development will be a seven-acre lake surrounded by numerous upscale sit-down restaurants overlooking the water. The center will also feature a community pavilion along the lake that will serve as a gathering place for residents and tourists and a covered children’s soft play area. Curbside parking will provide customers with easy and convenient access to the shops. The Pavilion at Port Orange will also feature more than 31,000 square feet of office space above the retail.
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Persons interested in learning more about leasing space should contact the following representatives:
Specialty Shops:
Tammy Johnson,
Sr. Leasing Manager
(423) 553-8772
Anchor or big box opportunities/office space:
Geoff Smith,
Vice President – Development
(423) 490-8345
Bob Elliott, Development Manager
(386) 254-2834
Restaurants:
Bryant Siragusa,
National Director of Mall Restaurants and Entertainment
(423) 553-8790
Peripheral Property:
Jamey Flegal, Sr. Leasing Manager
(423) 553-8792
About Hollywood Theaters
In addition to Hollywood’s domestic theater locations in 15 states, the company also has locations in Guam, Saipan and American Samoa. Hollywood Theater Holdings, Inc. is a portfolio company of GTCR Golder Rauner LLC. Founded in 1980, GTCR pioneered the strategy of identifying and partnering with outstanding executives to build companies. GTCR manages more than $8 billion in equity and mezzanine capital invested in more than 100 companies in a wide variety of industries over the last 25 years.
About The Benchmark Group
Benchmark is a family owned real estate development, acquisition and management company whose roots date back to the late 1960's with the development of one of the country's first enclosed regional malls in Amherst, NY. The company's portfolio today is valued at approximately $1 billion and includes retail, office and multi-family residential in 12 states with it's most extensive holdings in New York, Ohio and Florida.
About CBL & Associates Properties, Inc.
CBL owns or manages four regional malls/open-air centers in Florida including Volusia Mall in Daytona Beach, Gulf Coast Town Center in Fort Myers, Panama City Mall in Panama City and Lakeshore Mall in Sebring. CBL also owns and manages one community center in Florida.
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 161 properties, including 86 regional malls/open-air centers. The properties are located in 27 states and total 84.5 million square feet including 2.1 million square feet of non-owned shopping centers managed for third parties. Including The Pavilion at Port Orange, CBL currently has fourteen projects under construction totaling 4.0 million square feet including Pearland Town Center, Houston (Pearland), TX; Settlers Ridge in Pittsburgh, PA; Hammock Landing in West Melbourne, FL; two lifestyle/associated centers, seven expansions/redevelopments, and one community center. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas, TX, and St. Louis, MO. Additional information can be found at cblproperties.com.
Information included herein contains 'forward-looking statements' within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' incorporated by reference therein, for a discussion of such risks and uncertainties.
