In May 2011, it was announced that TIAA-CREF would receive 12% ownership of Pearland Town Center in an attempt to reduce CBL's debt.

Pearland Town Center houses three anchor stores: Barnes and Noble, Dillard's, and Macy's.

Designed by the Omniplan architectural firm, the center is home to several restaurants and retail stores that are new to the Pearland area.

[4] A 110-room, four-story Courtyard by Marriott hotel is located above the center's retail shops near Macy's.

Pearland Town Center includes office and multi-family residential space above the stores, a 25-acre (100,000 m2) lake and adjacent walking paths and parks.