Pearland Town Center announced five more retail tenants this week. At a time when retailers are closing in record numbers, CBL & Associates' mixed-use development has plenty of interest. The trouble is picking the right kind of tenant.
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“CBL has been very selective with what goes in there. They’re looking for the right mix,” Pearland City Manager Clay Pearson said.
Pearland Town Center can afford to be selective. It was a success before it ever opened, having pre-leased 85% of the space, and it has been a boost for the area. It is estimated the town center is creating 1,500 jobs, and generating close to $250M in sales each year, nearly a third of the city's economy. As Pearland’s population grows rapidly, retailers have no doubt there will be no shortage of customers. But CBL is not content to rest on its success. The firm has made substantial reinvestment in the property, most recently revamping the landscaping.
The mixed-use development has attracted major retailers. Pearland Town Center is anchored by Barnes & Noble, Dillard’s and Macy’s, with other notable tenants like H&M and Chico’s. All the recent lease signings have been food-related. Chop Ice Cream is set to open near Barnes & Noble this summer. Popbar, which serves gelato on a stick, will take Cinnabon’s former space in August. Russo’s New York Pizzeria, Smallcakes Cupcakes and Krispy Kreme will make their debut at the development this fall.
“The occupancy on the office space has been very well received and continues to [be] strong. Freese and Nichols just expanded their 10K SF lease. Buckee’s has corporate offices in the development,” Pearson said. “With quality, good visibility and access, there’s a lot to like.”
Hear more about Pearland and Pearland Town Center from City Manager Clay Pearson and CBL Vice President of Development Ken Wittler and others at Bisnow’s Future Of Pearland event.
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