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CBL Breaks Ground On The Crossings At Marshalls Creek In Stroudsburg (Middle Smithfield), PA

Stocks in this article: CBL

CBL & Associates Properties, Inc. (NYSE: CBL), today announced that construction has commenced on The Crossings at Marshalls Creek, a 103,000-square-foot shopping center development in Stroudsburg (Middle Smithfield), PA. The shopping center will be anchored by Price Chopper grocery, Rite Aid, STS Tire and Auto Centers and Family Dollar and will feature approximately 22,000 square feet of stores and restaurants. The grand opening is scheduled for June 2013.

“The Crossings at Marshalls Creek will be a great addition to the Stroudsburg market,” commented Stephen Lebovitz, president and chief executive officer of CBL & Associates Properties, Inc. “We are pleased to start construction and look forward to the opening next summer.”

The Crossings at Marshalls Creek will be easily accessible by a signalized entrance at state Route 209 and Oak Grove Drive (Route 401) in Middle Smithfield, one of the fastest growing markets in the state. The development is highly visible on 12.5 acres with traffic counts estimated at 35,000.

The project will be located just ten miles from CBL’s 420,000-square-foot Stroud Mall. Stroud Mall is the only enclosed shopping center in the Poconos featuring over 65 specialty stores including Aéropostale, Bath & Body Works, Garfield’s Restaurant and Pub, Journeys, Justice, maurices, and Victoria’s Secret. In 2011, a new 12-screen Cinemark theater opened within the mall joining Bon-Ton, JCPenney and Sears.

Businesses interested in obtaining leasing information about The Crossings at Marshalls Creek should contact Dan Backer/project manager, phone 781.398.7110, email: dan_backer@cblproperties.com.

About CBL & Associates Properties, Inc.

CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interest in or manages 164 properties, including 95 regional malls/open-air centers. The properties are located in 28 states and total 93.4 million square feet including 9.4 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information can be found at  cblproperties.com.

Copyright Business Wire 2010

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