Retailers in the CoolSprings Galleria rang up sales of $464 per square foot in 2013, which broke a record the mall set the year before. The 1.1 million-square-foot property ended the year fully leased for the fourth straight time but it's worth noting that growth has slowed: The $464 number was up just 1.1 percent from 2012. (On a CBL-wide basis, sales per square foot climbed 0.6 percent to $356.) That might help explain the flurry of activity since last summer from owner CBL & Associates, which has bought the former Sears store and secured both an American Girl store and a Belk expansion.
The Franklin Planning Commission has approved plans that will allow the expansion of the CoolSprings Galleria, Channel 2 reports.
Work on the three-phase project at the Williamson County-based mall should begin in early 2014.
Read more here.
The owners of CoolSprings Galleria are prepping for an update to the facility. The Tennessean's Kevin Walters reports that on Thursday CBL Associates Properties, Inc., will present to the Franklin Planning Commission details of its planned rehabbing of mall anchor Sears, a move that would represent the first phase of a updating that eventuallywill increase the retail space by more than 70,000 square feet. As Walter reports, CBL this past summer purchased the 116,000-square-foot space home to Sears store with plans to convert the space into new shops. However, Franklin Planning Department records show the company also might resume 2008 plans — scrapped after the recession — to construct free-standing shops adjacent to the mall, according to the morning daily. Read the Post's reporting here.
Years ago — and before the worst of the Great Recession — the owners of the CoolSprings Galleria had plans to build The District at Cool Springs, a 200,000-square-foot premium retail space for anchor stores, boutiques and upscale restaurants.
Though the plan never materialized, a recent move by mall owner CBL & Associates Properties got us wondering if The District at Cool Springs might be on the frontburner again. Specifically, Chattanooga-based CBL recently announced plans to create a 28,000-square-foot restaurant district at its Volusia Mall in Daytona Beach, Fla.
The Post asked Katie Reinsmidt, CBL's senior vice president of investor relations and corporate investments, if the company still views the Galleria as a promising property when it comes to expansion options.
“We are always looking at opportunities to enhance our mall properties and give our shoppers another reason to visit,” Reinsmidt responded via email. “Whether it is bringing in the latest retail name or exploring a potential development, our malls are dynamic and constantly improving. CoolSprings Galleria is a great mall that has a tremendous amount of potential for future growth.”
CoolSprings Galleria officials announced today the mall has landed boutique retailer Brighton Collectibles. The store, which will feature handbags, jewelry, belts, shoes and fragrances, is slated to open in early summer.
Based in City of Industry, Calif., the privately held Brighton Collectibles was founded in 1991. The company’s products can be found in 140 retail stores nationwide and in more than 6,000 boutiques.
“The momentum CoolSprings Galleria had in 2012 with openings including Apple, J.Crew/ Crewcuts, Ann Taylor, White House/Black Market, Clarks, Aldo, Great Wraps, PANDORA, and more will continue into 2013,” David Meadows, general manager of CoolSprings Galleria, said in a release. “Brighton will complement the mall’s current retailers and offer our guests another option for boutique shopping at CoolSprings Galleria.”