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CBL & Associates Properties, Inc. and Stirling Properties to Develop Fremaux Town Center in Slidell, Louisiana

  CBL & Associates Properties, Inc. and Stirling Properties to Develop Fremaux
  Town Center in Slidell, Louisiana

           Development Over 70% Leased Prior to Construction Start

Business Wire

COVINGTON, La. & CHATTANOOGA, Tenn. -- January 16, 2013

CBL & Associates Properties, Inc., (NYSE: CBL) and Stirling Properties today
announced the formation of a 65/35 joint venture to develop Fremaux Town
Center in Slidell, Louisiana. Once complete, the 80+ acre site will consist of
two phases. Phase I will comprise approximately 295,000 square feet with
anchors, including Dick’s Sporting Goods, Michaels, T.J.Maxx, and Kohl’s.
Phase II will include up to 300,000 square feet of additional retail space.
Construction is set to begin on Phase I in March of this year, with the grand
opening scheduled for the second quarter of 2014.

“Stirling Properties has a solid reputation as a leading retail developer in
southern Louisiana, and we are pleased to partner with them on this project,”
said Michael Lebovitz, CBL’s Executive Vice President – Development and
Administration. “Fremaux Town Center is well-located and is already
well-leased with an outstanding retail line-up. We are looking forward to
announcing additional retailers as the development progresses.”

“Stirling Properties is excited about our partnership with CBL & Associates
Properties to develop Fremaux Town Center and believes that this joint venture
brings the best possible team together to build this project,” said Stirling
Properties’ Senior Vice President of Development, Townsend Underhill. “We
believe this site has the characteristics to become a premier retail shopping
destination, and we are happy to continue our long and successful history of
retail development in the City of Slidell.”

Fremaux Town Center Phase I is currently more than 70% leased with committed
retailers such as Dick’s Sporting Goods, Michaels, Kohl’s, PetSmart, T.J.Maxx,
LongHorn Steakhouse, dressbarn, ULTA Beauty, Lane Bryant, Rack Room Shoes,
Best Buy and Versona Accessories. Fremaux Town Center will be located on more
than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in
Slidell, LA. Slidell is the largest municipality in St. Tammany Parish on the
northern shore of Lake Pontchartrain near the city of New Orleans. The area
has experienced significant growth following Hurricane Katrina. With its
interstate location and high-visibility, Fremaux Town Center is expected to
become a regional destination. Stirling will lead the development of the
project and CBL and Stirling will jointly lease and market the center.

For leasing information, please contact Ryan Pecot by telephone at
337.572.0246 or by email at rpecot@stirlingprop.com.

About Stirling Properties

A member of the Retail Brokers Network, Stirling Properties is a regional real
estate firm offering comprehensive services in development; commercial
brokerage; property and asset management; investment sales; and property owner
and tenant representation. Stirling Properties’ portfolio includes over 13
million square feet of managed property and 60 million square feet of
commercial properties for sale or lease. With offices located in Jackson,
Mississippi; Baton Rouge, Lafayette, New Orleans, Metairie, Covington,
Hammond, and Shreveport/Bossier City in Louisiana, Stirling is one of the
largest real estate firms in the Gulf South. Connect with Stirling Properties
on the web at www.stirlingproperties.com, “like” us at
facebook.com/stirlingproperties, follow us @StirlingProp on
twitter.com/StirlingProp or subscribe to our Stirling Insights blog.

About CBL & Associates Properties, Inc.

CBL is one of the largest and most active owners and developers of malls and
shopping centers in the United States. CBL owns, holds interest in or manages
163 properties, including 95 regional malls/open-air centers. The properties
are located in 27 states and total 91.8 million square feet including 9.4
million square feet of non-owned shopping centers managed for third parties.
Headquartered in Chattanooga, TN, CBL has regional offices in Boston
(Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information
can be found at cblproperties.com.

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 and the
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" incorporated by reference therein, for a discussion of such risks
and uncertainties.

Contact:

CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Senior Vice President - Investor Relations and Corporate Investments
katie_reinsmidt@cblproperties.com
 
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