Belk to Spend $12M on CoolSprings Galleria Renovation and Expansion
- Mar 03, 2014
Charlotte-based Belk, Inc. has announced plans for a grand $12.6 million renovation and expansion project for one of its Nashville stores, which will turn the location into the brand’s flagship in the metro Nashville region. The project will focus on Belk’s CoolSprings Galleria store in the Nashville submarket of Franklin.
Kicking off in October 2014, the first phase of the project will include the construction of a new 50,000-square-foot men’s and children’s store on the first level of a former Sears building at CoolSprings Galleria. Set to be complete in March 2015, the move will increase selling space and merchandise variety. Phase two will kick off in February 2015 and will entail the complete renovation and upgrade of the main store. Set to wrap up by October 2015, this phase will also entail the relocation of Belk’s home merchandise department, currently set up in two separate stores in the mall. The home merchandise department will take up 18,000 square feet in the main store’s second floor. The relocation of the menswear and children’s department will also free up a significant amount of space in the store’s main location, which in turn will allow for expansions and upgrades at the women’s apparel, accessories and cosmetics department. Upon completion, Belk, the mall’s anchor tenant, will boast a total of 185,000 square feet at the mall. Belk acquired the CoolSprings Galleria store in 2006.
CoolSprings Galleria is owned by CBL & Associates Properties, Inc. and TIAA-CREF and features 1,117,125 square feet of gross leasable area in a catchment area of over 891,000. Opened in 1991, the mall underwent renovation in 2006. CBL also purchased the former Sears building in mid-2013 with the intent to redevelop and expand the space for high-end retailers. The deal included two Sears stores: one at CoolSprings Galleria in Franklin, TN and one at the Fayette Mall in Lexington, KY, two of CBL’s most profitable malls.
Photo courtesy of CBL Properties via Facebook