CBL & ASSOCIATES PROPERTIES, INC. COMMENCES CONSTRUCTION OF CAPITAL CROSSING SHOPPING CENTER ADDITION.CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Feb. 14, 1995--CBL & Associates Properties, Inc. (NYSE NYSE See: New York Stock Exchange :CBL Cbl cobalamin. ) today announced that site grading has commenced for a Hannaford Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . Supermarket, which will be an addition to Capital Crossing Shopping Center 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 . Capital Crossing is an existing shopping center in Raleigh, North Carolina For other uses of this name, see Raleigh. Raleigh (IPA: /ˈrɑli/, ral-ee) is the capital of the State of North Carolina and the county seat of Wake County. , the balance of which is owned by an unrelated party. The grand opening is scheduled for fall 1995. CBL's chairman, president and chief executive officer, Charles B. Lebovitz, stated, "The addition to Capital Crossing is the first of several stores in the Southeast to be developed by our Company in association with Hannaford Bros. Co. of Scarborough, Maine. In addition to the 63,000 square feet leased by Hannaford Bros., we are building 15,000 square feet of additional space for other tenants." CBL & Associates Properties, Inc. is a real estate investment trust which owns regional malls and community shopping centers, primarily in the Southeast and select markets in the northeastern United States. The Company has a portfolio of 99 properties totaling 16.7 million square feet, manages an additional 2.1 million square feet of non-owned shopping center properties, and presently has 1.7 million square feet of new shopping centers under construction. CONTACT: CBL & Associates Properties Inc., Chattanooga John N. Foy, 615/855-0001 |
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