CBL & ASSOCIATES PROPERTIES, INC. ANNOUNCES NEW MALL MANAGEMENT CONTRACT.CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Dec. 30, 1996--CBL & Associates Properties, Inc. (NYSE NYSE See: New York Stock Exchange :CBL Cbl cobalamin. ) today announced that its affiliate, CBL & Associates Management, Inc., has been selected to manage Ogden City Mall City Mall is a shopping mall located in Eroii Revolutiei square, Bucharest, Romania. The City Mall include:
Originally opened in 1980 and renovated in 1995, Ogden City Mall is anchored by Nordstrom, JCPenney and ZCMI ZCMI Zions Cooperative Mercantile Institution (department store) . CBL has been acting as receiver for Ogden City Mall since April of this year and now has assumed total operational duties for the mall. Commenting on the announcement, Charles B. Lebovitz, CBL's chairman, president and chief executive officer, said, "We are pleased that CIGNA CIGNA CG (Connecticut General Life Insurance Company) INA (Insurance Company of North America) has selected us to take over the management, marketing and leasing of Ogden City Mall and look forward to applying our extensive experience in markets such as Ogden to improve the performance of this mall." CBL & Associates Properties, Inc. is a real estate investment trust which owns regional malls and community shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into . The Company has a portfolio of 109 properties totaling 20.5 million square feet, manages an additional 2.6 million square feet of non-owned shopping centers, and presently has under construction eight new shopping centers totaling 3.1 million square feet, including one mall, two power centers, two associated centers and three community centers. -0-
NEW SHOPPING CENTERS UNDER CONSTRUCTION
CENTER LOCATION SQ.FT
The Terrace Chattanooga, TN 156,297
Massard Crossing Fort Smith, AR 290,777
Salem Crossing Virginia Beach, VA 289,382
Hannaford Bros. Richmond, VA 62,500
Springhurst Towne Center Louisville, KY 808,084
Bonita Lakes Crossing Meridian, MS 64,000
Bonita Lakes Mall Meridian, MS 631,507
Cortlandt Town Center Cortlandt, NY 766,628
TOTAL SQUARE FOOTAGE 3,070,801
CONTACT: CBL & Associates Properties, Inc. John N. Foy, 423/855-0001 |
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