Business Specialties Development
July 18, 2008
By: Thomas Peretti, Contributing Correspondent
CBL & Associates have announced plans for an expansion of CoolSprings Galleria, a 1 million-plus-square-foot shopping center in Nashville.
The firm plans to develop an expansion to be named The District at CoolSprings Galleria. The developers envision the new construction to add 200,000 square feet of retail, entertainment, and restaurant space in an open air environment. Features of the plans also include new walkways and landscaping on the property. The first phase of development on the project is expected to be completed in 2011.
This development is the latest in a series of enhancements CBL has made since CoolSprings Galleria opened in 1991. The firm completed a multi-million dollar development in 2006 that added state-of-the-art structural improvements to the site.
The firm has developed a close working relationship with local government as it develops the property, as the firm and city of Franklin, Tenn., officials noted in the release.
The development of the property is correlated to the growth of Williamson County, the market which CoolSprings Galleria serves. “It has been only natural for CoolSprings Galleria to improve and evolve along with (Williamson County)” CBL president Stephen Lebovitz noted in a release. The addition will also reflect the growth of the upscale demographic the area has experienced lately.
Chattanooga-based real estate investment trust CBL & Associates owns 158 properties nationwide, 86 of them malls with open-air elements, much like the proposed CoolSprings Galleria elements. CPN reported in May that CBL had purchased 72 acres of land in Biloxi, Miss., with designs on building a 700,000-square-foot shopping center.
By: Thomas Peretti, Contributing Correspondent
CBL & Associates have announced plans for an expansion of CoolSprings Galleria, a 1 million-plus-square-foot shopping center in Nashville.
The firm plans to develop an expansion to be named The District at CoolSprings Galleria. The developers envision the new construction to add 200,000 square feet of retail, entertainment, and restaurant space in an open air environment. Features of the plans also include new walkways and landscaping on the property. The first phase of development on the project is expected to be completed in 2011.
This development is the latest in a series of enhancements CBL has made since CoolSprings Galleria opened in 1991. The firm completed a multi-million dollar development in 2006 that added state-of-the-art structural improvements to the site.
The firm has developed a close working relationship with local government as it develops the property, as the firm and city of Franklin, Tenn., officials noted in the release.
The development of the property is correlated to the growth of Williamson County, the market which CoolSprings Galleria serves. “It has been only natural for CoolSprings Galleria to improve and evolve along with (Williamson County)” CBL president Stephen Lebovitz noted in a release. The addition will also reflect the growth of the upscale demographic the area has experienced lately.
Chattanooga-based real estate investment trust CBL & Associates owns 158 properties nationwide, 86 of them malls with open-air elements, much like the proposed CoolSprings Galleria elements. CPN reported in May that CBL had purchased 72 acres of land in Biloxi, Miss., with designs on building a 700,000-square-foot shopping center.
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