CBL & Associates Properties Begins Construction of New Shopping Center in Wilkes-Barre Township, PA.Business Editors CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Nov. 6, 2002 CBL Cbl cobalamin. & Associates Properties, Inc. (NYSE NYSE See: New York Stock Exchange :CBL) today announced it has commenced initial site work on the 312,000-square-foot Wilkes-Barre Township Marketplace in Wilkes-Barre Township, PA. The grand opening of the new 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 is scheduled for November 2003. Located on 40-acres at I-81 (Exit 168) and Highland Park Highland Park. 1 City (1990 pop. 30,575), Lake co., NE Ill., a suburb of Chicago on Lake Michigan; inc. 1869. It is a retail business and medical center for the North Shore area. Boulevard in Wilkes-Barre Township, the shopping center will be anchored by a Wal-Mart Supercenter and A.C. Moore Arts & Crafts. Wilkes-Barre Township Marketplace will also have space for 108,000 square feet of specialty shops and outparcels. CBL's president, Stephen D. Lebovitz, commented, "We have a long track record of developing Wal-Mart-anchored shopping centers in the Southeast and in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. markets. We are excited about extending this relationship to the Mid-Atlantic region with our first development in Pennsylvania. With over 80% of the shopping center already leased and committed before construction has begun, we believe the tremendous response from retailers and residents alike attests to the need that Wilkes-Barre Township Marketplace will fulfill." CBL & Associates Properties, Inc. has a portfolio of 156 properties, including 54 enclosed malls, in 25 states totaling 56.4 million square feet including 2.1 million square feet of non-owned shopping centers managed for third parties. The Company has six projects under construction totaling approximately 2.7 million square feet, including one mall, two associated centers and three community centers plus seven mall renovations. In addition to its office in Chattanooga, TN, the Company has a regional office in Boston (Waltham), MA. The Company can be found on the Internet at www.cblproperties.com. Information included herein contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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. |
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