D’IBERVILLE, MS-CBL & Associates Properties Inc. and Forum Development Group LLC of Columbia, MO have joined forces to acquire 72 acres in the Biloxi region. The land will be developed into a 700,000-sf power center.

CBL issued a press release about the land acquisition, but didn’t provide details about the groundbreaking for the Promenade or its estimated ETA. CBL couldn’t be reached by deadline.

In the press release, Stephen Lebovitz, president of Chattanooga, TN-based CBL, says more than 365,000 sf of space is committed. He adds there is “firm interest for much of the remaining space.” The development will be situated at the intersection of Interstate 10 and I-110.

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