CBL & Associates Properties Inc. commences construction on new shopping center.CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Nov. 15, 1995--CBL & Associates Properties Inc. (NYSE NYSE See: New York Stock Exchange :CBL Cbl cobalamin. ) today announced that it has commenced construction on the 104,000-square-foot Devonshire Place in Raleigh (Cary), N.C. The center is expected to open in November 1996. Devonshire Place is situated on an 11.4-acre site, which is being ground leased by the company and will be anchored by Hannaford Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . of Portland, Maine Portland is the largest city in the U.S. state of Maine, with a 2004 population of 63,882. Portland is Maine's cultural, social and economic capital. Tourists are drawn to Portland's historic Old Port district along Portland Harbor, which is at the mouth of the Fore River and part ; Borders Books and Music; and Kinetix, a performance footware and apparel chain headquartered in Canton, Ohio Canton is a city in the U.S. state of Ohio and the county seat of Stark CountyGR6. The municipality is located in northeastern Ohio and is situated on the Nimishillen Creek, approximately 24 miles (38 km) south of Akron[4] . Commenting on the announcement, Charles B. Lebovitz, CBL's chairman, president and chief executive officer, stated, "This new community shopping center is located in North Carolina's well-known Research Triangle Park Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. area, one of the fastest growing markets in the country. We are pleased once again to capitalize on our ability to combine our Southeast development focus with new retailer relationships we have cultivated through our development program in the Northeast." 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 103 properties totaling 18.7 million square feet, manages an additional 2.3 million square feet of non-owned shopping centers and presently has five new shopping centers and one mall redevelopment and expansion under construction. CONTACT: CBL & Associates Properties Inc., Chattanooga John N. Foy, 423/855-0001 |
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