CBL & ASSOCIATES PROPERTIES, INC. OPENS THREE NEW SHOPPING CENTERS AND EXPANDS TWO REGIONAL MALLS IN MARCH.CHATTANOOGA, Tenn.--(BUSINESS WIRE)--April 8, 1997--CBL & Associates Properties, Inc. (NYSE NYSE See: New York Stock Exchange :CBL Cbl cobalamin. ) today announced the opening of five projects in March, including the 157,923-square-foot Terrace in Chattanooga; the 290,717-square-foot Massard Crossing in Fort Smith, Arkansas Fort Smith is a city that lies on the Arkansas-Oklahoma state border, situated at the junction of the Arkansas and Poteau Rivers, also known as Belle Point. The city began as a western frontier military post in 1817 and would later become well-known for its role in the settling of ; a 62,500-square-foot Hannaford Food & Drug in Richmond, Virginia Richmond IPA: [ɹɯʒmɐnɖ] is the capital of the Commonwealth of Virginia, in the United States. ; and the addition of a 94,000-square-foot Dillard's, plus a ten-screen, 33,762-square-foot United Artists Theatre, to Twin Peaks Mall in Longmont, Colorado The City of Longmont is a home rule municipality located in Boulder County and Weld County, Colorado, United States. Longmont is the 13th most populous city in the State of Colorado. The word "Longmont" comes from Longs Peak, a prominent mountain named for explorer Stephen H. ; and an 85,540- square-foot Dillard's to Frontier Mall Frontier Mall is an enclosed shopping mall located in Cheyenne, Wyoming. As one of only three shopping malls in the state of Wyoming[1], the mall serves a wide market of six counties. The 519,471 square foot mall opened March 18, 1991. in Cheyenne, Wyoming Cheyenne is the capital of the U.S. state of Wyoming. It is the principal city of the Cheyenne, Wyoming Metropolitan Statistical Area which encompasses all of Laramie County, Wyoming. As of September 2005, it had an estimated population of 55,362. . These developments added 724,442 square feet to the Company's portfolio. The Terrace, located adjacent to Hamilton Place, is anchored by Barnes & Noble, Circuit City, HomePlace, Staples, and Old Navy. Massard Crossing is anchored by Wal-Mart Supercenter, Goody's, and TJ Maxx with 30,660 square feet of small shops. Charles B. Lebovitz, CBL's chairman, president and chief executive officer, stated, "These three centers are the first of the new development program to open in 1997, which will total approximately 3.1 million square feet. We are excited about expanding into Arkansas, our twenty-fourth state, and with the opening of The Terrace we are enhancing CBL's presence in the Chattanooga market." Dillard's becomes the fourth department store at the recently renovated Twin Peaks Mall, joining JCPenney, Joslins and Sears. Dillard's also joins JCPenney, Joslins and Sears as anchors at Frontier Mall, which also was recently renovated. Mr. Lebovitz stated, "Dillard's is one of the premier department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. in the country. They will complement the outstanding lineup of anchors at both malls and further strengthen Twin Peaks Mall and Frontier Mall's positions in their respective markets." 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 United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company has a portfolio of 111 properties totaling 20.8 million square feet (including three new centers opened in March as indicated below), manages an additional 2.6 million square feet of non-owned shopping centers, and presently has under construction and opening this year nine new shopping centers totaling 3.1 million square feet, including one mall, two power centers, two associated centers and four community centers. -0-
NEW SHOPPING CENTERS OPENING IN 1997
Center Location Square Footage
Hannaford Food & Drug/a Richmond, VA 62,500
The Terrace/a Chattanooga, TN 157,923
Massard Crossing/a Forth Smith, AR 290,717
Salem Crossing Virginia Beach, VA 289,305
Springhurst Towne Center Louisville, KY 808,159
Bonita Lakes Mall Meridian, MS 633,140
Bonita Lakes Crossing Meridian, MS 74,000
Cortlandt Town Center Cortlandt,NY 769,169
Strawbridge Marketplace Virginia Beach, VA 43,570
Total 3,128,477
/a: Open
CONTACT: CBL & Associates Properties, Inc., Chattanooga John N. Foy, 423/855-0001 |
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