Advertisement
UK markets close in 3 hours 46 minutes
  • FTSE 100

    7,949.90
    +17.92 (+0.23%)
     
  • FTSE 250

    19,850.53
    +39.87 (+0.20%)
     
  • AIM

    742.79
    +0.68 (+0.09%)
     
  • GBP/EUR

    1.1698
    +0.0029 (+0.25%)
     
  • GBP/USD

    1.2629
    -0.0009 (-0.07%)
     
  • Bitcoin GBP

    55,853.07
    +355.46 (+0.64%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CRUDE OIL

    82.64
    +1.29 (+1.59%)
     
  • GOLD FUTURES

    2,229.10
    +16.40 (+0.74%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,486.52
    +9.43 (+0.05%)
     
  • CAC 40

    8,225.32
    +20.51 (+0.25%)
     

CBL Properties (CBL) Adds Leisure Facility to Jefferson Mall

CBL & Associates Properties, Inc CBL initiated the redevelopment at the Jefferson Mall in Louisville, KY to include a new entertainment place, Round1 Bowling & Amusement. The building, previously occupied by Macy's, Inc. M, is currently under construction. The developers have planned a grand opening for Round1, which is scheduled to occur prior to the holiday season of 2018.

Notably, the growing popularity of Round1 is expected to increase the mall traffic and attract visitors from other regions too. The multi-entertainment activity complex was initiated in 1980 and now has over 100 locations in Japan and about 21 in the United States. It offers bowling, an arcade, karaoke, billiards, food and drinks under one roof.

Stephen Lebovitz, president & CEO of CBL Properties informed, “CBL has made excellent progress on its redevelopment program over the last several months, with demand from many exciting retailers, entertainment users, and restaurant operators. We are thrilled to move forward with this phase of redevelopment and welcome this world-class entertainment operator to Jefferson Mall.”

Of late, mall traffic has been adversely affected due to the rapid shift in consumers’ shopping preferences toward online channels. With a number of retailers jumping on the dot-com bandwagon and reconsidering their footprints and opting for store closures, retail landlords, including CBL Properties, The Macerich Company MAC and Kimco Realty Corporation KIM, have been facing challenging times.

However, retail real estate investment trust’s (REIT) are fighting back and avoiding heavy dependence on apparel and accessories. Instead, the REITs are expanding dining options, opening movie theaters, offering recreational facilities and opening fitness centers in particular, to drive more footfall at their properties. Hence redevelopment efforts are gaining traction and the present move of CBL Properties is in sync with that.

Moreover, shares of this Zacks Rank #3 (Hold) company have outperformed the industry over the past month. While the company’s shares have edged down 0.2%, the industry has declined 1.5%.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Will You Make a Fortune on the Shift to Electric Cars?

Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

See This Ticker Free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Macy's, Inc. (M) : Free Stock Analysis Report
 
Kimco Realty Corporation (KIM) : Free Stock Analysis Report
 
Macerich Company (The) (MAC) : Free Stock Analysis Report
 
CBL & Associates Properties, Inc. (CBL) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.