CBL & Associates Properties Begins Construction On New Power Center in Orlando.CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Feb. 19, 1998--CBL & Associates Properties, Inc. (NYSE NYSE See: New York Stock Exchange :CBL Cbl cobalamin. ) today announced it has begun construction on Sand Lake Corners, a 600,000-square-foot power 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 in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. . The grand opening for Sand Lake Corners is expected to take place in the first half of 1999. Located on 66 acres at the intersection of Sand Lake Road and John Young Parkway  It has been suggested that this article be split into articles entitled and . , Sand Lake Corners will be anchored by a 234,000-
square-foot Wal-Mart Supercenter, a 165,000-square-foot Lowe's, a
26,000-square-foot PetsMart and up to five additional anchor stores plus
approximately 35,000 square feet of small shop space. Sand Lake Corners
is part of South Park, a 1,000-acre mixed-use business park developed by
Orlando Central Park.
Commenting on the announcement, Charles B. Lebovitz, CBL's chairman, president and chief executive officer, stated, "The excellent location and strong line up of exciting retailers will make Sand Lake Corners the dominant power center in this area of the Orlando market. This project epitomizes our core development strategy of meeting consumers' needs for the latest and best concepts with a retailing complex that dominates a market rather than just being part of it." 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 122 properties totaling 26.7 million square feet, manages an additional 2.6 million square feet of non-owned shopping centers, and will have under construction this quarter four new projects totaling approximately 1.9 million square feet, including one mall, one power center, one associated center and one community center. Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and the "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations" incorporated by reference therein, for a discussion of such risks and uncertainties. CONTACT: CBL & Associates Properties Inc., Chattanooga John N. Foy, 423/855-0001 |
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