CBL Properties Redevelops Central IL Mall
- Jan 05, 2018
CBL Properties has begun work to renovate and transform part of its Eastland Mall in Bloomington, Ill. Retailers moving into the space, a former J.C. Penney department store, are anticipated to be open prior to the 2018 holiday shopping season. Newly announced tenants include H&M, Planet Fitness and Outback Steakhouse. The retail-focused REIT acquired the shopping center in October 2005 along with two other malls in the Midwest as part of a $516.9 million portfolio transaction involving Eastdil Realty Co.
Located at 1615 E. Empire St., the mall opened in 1967 and is home to 76 stores totaling 760,833 square feet. At the corner of Illinois Route 9 and Veterans Parkway, the property is situated in a busy retail district and next to OSF St. Joseph Medical Center. State Farm Insurance’s corporate headquarters sits two blocks south. Anchor tenants at Eastland Mall include Sears, Bergner’s and Kohl’s. Two previous anchor tenants, J.C. Penney and Macy’s, closed their department stores last year.
“We are thrilled to kick off 2018 by announcing a major anchor redevelopment project at Eastland Mall,” said Stephen Lebovitz, president & CEO of CBL Properties, in a prepared statement. “Dining, value and fitness are increasingly in demand, and we are pleased to deliver names that not only meet this demand, but elevate the overall customer experience.”
Two miles north, Chicago-based Portillo’s opened a restaurant in the city of Normal’s busy retail corridor last summer, the company’s second location in central Illinois.
Image via Google Maps