CBL Properties Announces Premier Supermarket Joining Stroud Mall in Stroudsburg, Pennsylvania

July 31, 2018

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Jul 31, 2018--CBL Properties (NYSE:CBL) today announced redevelopment plans for the former Bon-Ton space at Stroud Mall in Stroudsburg, Pennsylvania. The redevelopment will deliver a brand new, state-of-the-art 87,000-square-foot ShopRite supermarket.

Village Super Market, Inc. and the Sumas family, owners and operators of 30 ShopRite stores in New Jersey, Maryland, New York and Pennsylvania, will bring their newest store to the Stroud Mall in 2019. The Stroud Mall ShopRite will focus on providing fresh prepared foods, produce, meat and seafood, while offering a large and varied selection of groceries, organic and locally sourced foods. The new store will also include a health and wellness department led by a registered dietitian.

“We are thrilled to work with ShopRite to debut the company’s new concept through this redevelopment,” said Stephen Lebovitz, chief executive officer, CBL Properties.

“We expect this state-of-the-art ShopRite to be a great anchor to the shopping center and a community destination for local residents,” said Perry Blatt, third generation supermarket operator and Director of Marketing and Business Development for Village Super Market, Inc. “We look forward to partnering with CBL to bring ShopRite to the Stroud Mall.”

Lebovitz added, “As consumer preferences evolve, the offerings at our properties must also evolve. ShopRite will provide our customers in Stroudsburg and the entire region an unparalleled experience, driving new traffic and sales to the entire property. We are excited for construction to start shortly and for next year’s grand opening.”

About ShopRite

ShopRite is the registered trademark of Wakefern Food Corp., a retailer-owned cooperative based in Keasbey, NJ, and the largest supermarket cooperative in the United States. With more than 270 ShopRite supermarkets throughout New Jersey, New York, Pennsylvania, Connecticut, Delaware and Maryland, ShopRite serves more than six million customers each week. Through its ShopRite Partners In Caring program, ShopRite is dedicated to fighting hunger in the communities it serves. Since the program began in 1999, ShopRite Partners In Caring has donated $43 million to food banks that support more than 2,200 worthy charities. As a title sponsor of the ShopRite LPGA Classic Presented by Acer, ShopRite has donated $31 million to local organizations, hospitals and community groups. For more information, please visit shoprite.com.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 117 properties totaling 72.8 million square feet across 27 states, including 74 high-quality enclosed, outlet and open-air retail centers and 13 properties managed for third parties. CBL continuously strengthens its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180731005937/en/

CONTACT: CBL Properties

Investor Contact:

Katie Reinsmidt, 423-490-8301

Executive Vice President & Chief Investment Officer



Media Contact:

Stacey Keating, 423-490-8361

Director of Public Relations & Corporate Communications




SOURCE: CBL Properties

Copyright Business Wire 2018.

PUB: 07/31/2018 04:15 PM/DISC: 07/31/2018 04:15 PM


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