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CBL and Benchmark Partner to Develop Hammock Landing in West
Melbourne, FL Construction Has Commenced for a Spring 2009 Opening
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--CBL & Associates Properties, Inc. (NYSE:
CBL -
News) and The Benchmark Group
today announced the development of Hammock Landing, a 750,000-square-foot
open-air shopping center to be built in West Melbourne, FL. The center will be
anchored by Marshall’s, Linens ‘n
Things, Michael’s, and Petco, as well as two major
anchors and will offer shoppers a great selection with more than 120,000
square feet of small shops and restaurants. Construction on the project has
started with a grand opening planned for spring 2009.
“We’re delighted to partner again with The Benchmark Group on this exciting new project in a dynamic and growing area in Florida,” said Stephen Lebovitz, president of CBL & Associates Properties. “Hammock Landing will provide much-needed retailers to an underserved area on Florida’s east coast.” Hammock Landing will be located on 78 acres at the northwest intersection of I-95 and Palm Bay Road, one of the most heavily trafficked interchanges in Brevard County. Construction for the expansion of Palm Bay Road to six lanes is expected to begin this month. In addition to the 41,000 cars per day that drive by the project on Palm Bay Road, nearly 70,000 vehicles pass the project daily on Interstate 95. Hammock Landing will benefit from a growing trade area population of more than 200,000, which is projected to increase over 10% to 225,000 by 2011. Chattanooga-based Artech Design Group has created the look of the center, which will be fashioned into a village-like atmosphere through the clustering of retailers and restaurants. The general contractor for the project is EMJ Corporation, also of Chattanooga. The center is a 50/50 joint venture of CBL and Benchmark Properties, which also are collaborating on the Pavilion at Port Orange, a 550,000-square-foot lifestyle center anchored by Belk and a Hollywood theater in Port Orange, FL. That project is scheduled to open in fall 2009. “We’re happy to be working again with CBL on Hammock Landing,” said Martin Dellebovi, executive vice president – development, Benchmark Group. “This new center is bringing much needed retail to a growing area. We believe it will be the dominant shopping center in southern Brevard County as well as serving the cities of Melbourne, West Melbourne, Palm Bay, and Malabar.”
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