BIRMINGHAM, Ala., Sept. 25 /PRNewswire-FirstCall/ -- America's most
popular outdoor store and a major internet and catalog retailer, Bass Pro
Shops, has signed a letter of intent with Colonial Properties Trust
(NYSE: CLP) to open a Bass Pro Shops Outdoor World in Myrtle Beach, South
Carolina. Scheduled to open in the early summer of 2003, this 102,000 square-
foot retail store will be located in the Colonial Mall at the intersection of
U.S. Highway 17 and Kings Highway. The store will include a 12,000 square-
foot Islamorada Fish Company Restaurant, another Bass Pro Shops property.
"We are thrilled about the opportunity to be involved in this exciting
development for the residents of Myrtle Beach and their 17 million visitors
each year. This area has a rich outdoor legacy, and we look forward to being
a part of it," said Bass Pro Shops founder Johnny Morris.
Bass Pro Shops Outdoor World retail stores offer a comprehensive
collection of outdoor gear that will further energize the area's rich outdoor
opportunities. Outdoor World shoppers can browse a huge selection of fishing,
hunting and marine items, and visit golf, clothing, gift and footwear
departments. A full line of Tracker and Nitro boats -- America's number one
aluminum and fiberglass fishing boats -- will be displayed in the store's
The store will showcase unique interior motifs that have branded Bass Pro
Shops as a visually appealing, high quality outdoor store.
The strong demographics of the area coupled with strong projections for
future growth in both its residential population and its tourist industry were
important factors in Bass Pro Shops' decision to enter the market.
After reviewing multiple sites in the area, the company selected Colonial
Mall Myrtle Beach because of its superior location and its easy access to the
"The addition of Bass Pro as anchor coincides with a major remodeling of
the interior of the mall as well as a retailer-initiated re-merchandising of
the mall shops," explained Tom Lowder, Chief Executive Officer, Colonial
Properties Trust. "Together, these improvements will further cement Colonial
Mall's position as the retail location of choice in the area." Included in
the re-merchandising are the current expansion of American Eagle and the
recent addition of Gap and Gap Kids.
About Bass Pro Shops
The Springfield, Missouri-based Bass Pro Shops currently has 16 retail
locations. Stores are located in Chicago, Ill., Atlanta, Ga., Islamorada, Ft.
Lauderdale and Orlando, Fla., Dallas and Houston, Texas, Memphis and
Nashville, Tenn., Detroit, Mich., Charlotte, N.C., Cincinnati, Ohio,
Baltimore, Md., and Springfield and St. Louis, Mo. A Bass Pro Shops Outlet
Center is also located in Springfield, Mo. Future store sites also include
Bossier City, La., Destin, Fla., and Las Vegas, Nev. For more information,
log on to www.basspro.com .
About Colonial Properties Trust
Headquartered in Birmingham, Ala., Colonial Properties Trust is a
diversified REIT that, through its subsidiaries, owns a portfolio of 104
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 $2.9 billion. The cornerstone of Colonial Properties'
success is its live, work and shop diversified investment strategy. The
Company operates more than 16,700 apartment units, 3.4 million square
feet of office space and 15.0 million square feet of retail shopping space
including 17 malls and 25 non-mall properties. Additional information
on Colonial Properties Trust is available on the Internet at
www.colonialprop.com . The Company is listed on the New York Stock Exchange
under the symbol "CLP" and is included in the S&P SmallCap 600 Index.
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SOURCE Colonial Properties Trust