CBL Announces Acquisition and Planned Redevelopment of Two Sears Anchor
Locations at Top CBL Malls
CHATTANOOGA, Tenn. -- July 2, 2013
CBL & Associates Properties, Inc. (NYSE: CBL), today announced that it had
acquired two Sears locations at CBL’s Fayette Mall in Lexington, KY, and
CoolSprings Galleria in Nashville, TN. Sears will continue to operate in both
locations until closing dates have been finalized.
“The acquisition of these Sears stores will allow us to create substantial
value at two of our most productive malls,” said Stephen Lebovitz, president
and chief executive officer. “We have plans to redevelop and expand both
buildings to create space for new high-end specialty stores and restaurants
designed to augment each properties’ market-dominant position and enhance
their strong growth rates. Additional details on these exciting projects will
be announced in the near future.”
Businesses interested in obtaining leasing information about Fayette Mall
Farren Leasing 423.490.8360 firstname.lastname@example.org
Businesses interested in obtaining leasing information about CoolSprings
Galleria should contact:
Farren Leasing 423.490.8620 email@example.com
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 interests in or manages
158 properties, including 96 regional malls/open-air centers. The properties
are located in 31 states and total 92.7 million square feet including 10.5
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
CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Senior Vice President -
Investor Relations and Corporate Investments
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