CBL & Associates, Stirling to develop Fremaux Town Center
Slidell, La. -- Chattanooga, Tenn.-based CBL & Associates Properties and Covington, La.-based Stirling Properties announced Wednesday the formation of a 65/35 joint venture to develop Fremaux Town Center in Slidell, La.
Phase I of the two-phase project will comprise approximately 295,000 sq. ft. and anchors that include Dick’s Sporting Goods, Michaels, T.J.Maxx, and Kohl’s. Phase II will include up to 300,000 sq. ft. of additional retail space. Construction is set to begin on Phase I in March 2013, with the grand opening scheduled for the second quarter of 2014.
“Fremaux Town Center is well-located and is already well-leased with an outstanding retail line-up,” said Michael Lebovitz, CBL’s EVP development and administration. “We are looking forward to announcing additional retailers as the development progresses.”
Stirling Properties’ SVP development Townsend Underhill added, “We believe this site has the characteristics to become a premier retail shopping destination, and we are happy to continue our long and successful history of retail development in the City of Slidell.”
Fremaux Town Center Phase I is currently more than 70% leased with committed retailers such as Dick’s Sporting Goods, Michaels, Kohl’s, PetSmart, T.J.Maxx, LongHorn Steakhouse, dressbarn, ULTA Beauty, Lane Bryant, Rack Room Shoes, Best Buy and Versona Accessories.
Stirling will lead the development of the project and CBL and Stirling will jointly lease and market the center.