Multi-Million Dollar Mall Renovation to Also Take Place
BIRMINGHAM, Ala., Aug. 26 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) and Springfield, Missouri based Bass Pro Shops announced
today the expansion and redesign of the new Bass Pro Shops location to be
built at the Colonial Mall in Myrtle Beach.
(Logo: http://www.newscom.com/cgi-bin/prnh/200300709/CLPLOGO-c )
Bass Pro Shops will be remodeling over 22,000 square feet of the existing
Kmart building and adding to the structure to bring the total square footage
to nearly 119,000. The store will also feature an over 10,000 square foot
Islamorada Fish Company Restaurant. Construction will begin very soon with
completion of the brand-new and enlarged store tentatively slated for late
spring 2004.
"The excellent demographics of the area coupled with strong projections in
both the residential population and the tourist industry were important
factors in our decision to enhance the original store design," explained Bass
Pro Shops President and COO Jim Hagale. "We delayed the Myrtle Beach store so
that we can give our customers a bigger and even more exciting shopping
experience."
The white stucco-textured exterior with a tall sweeping expanse of
glasswork, Bahaman shutters and patina green roof will include a lake feature
wrapping around the front of the store.
Inside, colorful native fish will dart around a huge saltwater aquarium.
State-record fish mounts along with actual old photographs from the area
depicting hunting and fishing scenes will adorn the walls. Various wildlife
exhibits and floor features will help bring the outdoors, indoors, a Bass Pro
Shops trademark theme.
The new store will reflect the popularity of golf in the Myrtle Beach area
with a unique presentation of golf merchandise and an exterior golf driving
range to give customers a chance to try out new clubs under realistic
conditions.
Bass Pro Shops will also be offering a comprehensive collection of outdoor
gear that more than does justice to the area's rich outdoor legacy. Shoppers
will be able to browse the area's largest fishing selection, which includes
freshwater, saltwater and fly-fishing. Other departments include hunting,
camping, marine, gift, footwear, and men's, ladies' and kids' casual wear.
Senior Vice President of Mall Development for Colonial Properties Gary L.
Farmer noted, "We are extremely pleased that Bass Pro Shops was determined to
build the best store possible for Myrtle Beach, despite the time necessary to
finalize the design." Farmer added, "It was just one more example of how Bass
Pro Shops strives for excellence in all areas of operations."
"Bass Pro Shops desire to enhance their store at Colonial Mall Myrtle
Beach confirms the mall's position as the retail location of choice in the
area," explained Tom Lowder, Chief Executive Officer, Colonial Properties
Trust. "The construction of the store is simultaneous with a multi-million
dollar renovation and remerchandising of the mall which will include new tile
flooring, new ceilings, natural lighting, new customer amenities such as soft
seating areas and exterior enhancements."
About Bass Pro Shops
The Springfield, Missouri-based Bass Pro Shops currently has 18 retail
locations. Other stores in Missouri include a 300,000 square foot Outdoor
World store in Springfield, a Bass Pro Shops Outlet Center in Springfield and
a Bass Pro Shops Sportsman's Warehouse in St. Louis. Other stores are located
in Chicago, IL, Atlanta and Savannah, GA, Islamorada, Ft. Lauderdale, Destin
and Orlando, FL, Dallas and Houston, TX, Memphis and Nashville, TN, Detroit,
MI, Charlotte, NC, Cincinnati, OH, and Baltimore, MD. Future store sites
include Oklahoma City, OK, Bossier City, LA, Hampton, VA, Las Vegas, NV, and
Myrtle Beach, SC. For more information, log on to http://www.basspro.com.
About Colonial Properties Trust
Colonial Properties Trust is a diversified REIT that, through its
subsidiaries, owns a portfolio of 106 multifamily, office and retail
properties where you live, work and shop in Alabama, Florida, Georgia,
Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia.
Colonial Properties Trust performs development, acquisition, management,
leasing and brokerage services for its portfolio and properties owned by third
parties. Colonial Properties Trust is one of the largest diversified REITs in
the United States with a total market capitalization of $2.8 billion. The
cornerstone of Colonial Properties' success is its live, work and shop
diversified investment strategy. The Company operates more than 14,500
apartment units, 5.2 million square feet of office space and 15.3 million
square feet of retail shopping space including 17 malls and 27 non-mall
properties. Additional information on Colonial Properties Trust is available
on the Internet at http://www.colonialprop.com . The Company, headquartered in
Birmingham, Ala., is listed on the New York Stock Exchange under the symbol
"CLP" and is included in the S&P SmallCap 600 Index.
SOURCE Colonial Properties Trust
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Related links:
http://www.colonialprop.com
http://www.basspro.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/200300709/CLPLOGO-c
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT:
Sandra Lee Robertson, Senior Vice President -
finance, +1-205-250-8788, or Linda S. Geiss, Vice President -
Corporate Affairs, +1-205-250-8768, both of Colonial Properties
Trust, or Larry Whiteley, Manager of Corporate Public Relations,
BPS, +1-417-873-5022
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