CBL Announces Burlington to Join Northgate Mall in Chattanooga, TN

  CBL Announces Burlington to Join Northgate Mall in Chattanooga, TN

Business Wire

CHATTANOOGA, Tenn. -- September 13, 2013

CBL & Associates Properties, Inc. (NYSE: CBL) today announced that Burlington
Coat Factory, a national off-price retailer, will locate their first and only
store in Chattanooga, TN at Northgate Mall. The new 63,000-square-foot store
will be situated between Sears and JC Penney with entrances on the main mall
as well as to the east parking lot. Several stores will be relocated to
accommodate the redevelopment. Construction is expected to begin in January
with a grand opening scheduled for October 2014.

CBL’s President and Chief Executive Officer, Stephen Lebovitz, commented,
“Since acquiring Northgate Mall in late 2011, we have been executing on our
plans to revitalize the center and create a shopping destination that the
Hixson community and the entire Chattanooga market will enjoy. We are pleased
to take this next step forward with this latest announcement. The addition of
Burlington to the center will not only enhance Northgate Mall by delivering
the first store in the market for a great retail name, but also demonstrates
our commitment to investing in the mall’s continued growth.”

CBL is also currently underway with a number of improvements to the Northgate
Mall complex, including a multi-million dollar renovation of the mall. The
renovation includes enhancements to the interior and exterior of Northgate
Mall. The main entrance is receiving updates and portions of the parking lot
are being repaved. Remodeling inside the mall includes new soft seating areas,
new flooring as well as ceiling and lighting upgrades. The renovation will be
completed this fall. A new Old Navy store is under construction next to the
southwest mall entrance, with an opening anticipated in January 2014. In
addition, the redevelopment of Northgate Mall’s associated center, located
across the parking field from the mall, is nearing completion. T.J.Maxx
received a new façade, Michaels celebrated their grand opening in early
September and the grand opening of Ross Dress for Less is expected in the
fall.

For leasing information please contact Jason Shelton by telephone at
423.490.8242 or by email at Jason_shelton@cblproperties.com.

About Burlington

Burlington is a national retailer offering style for less with up to 65
percent off department store prices every day. Departments include ladies’
dresses, suits, sportswear, juniors, accessories, menswear, family footwear
and children’s clothing. It also includes an assortment of furniture and
accessories for baby at Baby Depot, home décor and gifts, along with the
largest selection of coats in the nation for the entire family. Burlington has
more than 500 stores in 44 States and Puerto Rico. For more, visit
www.BurlingtonCoatFactory.com.

About Northgate Mall

Northgate Mall is an 823,000-square-foot enclosed regional mall located on
Highway 153 and Hixson Pike/State Route 319 in CBL’s hometown of Chattanooga,
Tennessee. Chattanooga has been experiencing tremendous growth with several
major new employers entering the area, including North America’s only
Volkswagen manufacturing plant. Northgate Mall is anchored by Belk, JC Penney
and Sears and offers 60 specialty shops and restaurants. The property also
features a freestanding 14-screen state-of-the-art Carmike Cinema and a
70,000-square-foot community center occupied by T.J.Maxx with Michaels and
opening this fall, Ross Dress for Less. The property was originally developed
in 1972 by Arlen Shopping Center Group (“Arlen”) under the direction of
Charles B. Lebovitz. In 1978, Lebovitz and five associates left Arlen to form
CBL & Associates.

CBL also owns and manages Hamilton Place Mall, a 1.3-million-square-foot
dominant super-regional enclosed mall as well as five associated centers and
two office buildings, including its headquarters, in the Chattanooga market.

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
154 properties, including 93 regional malls/open-air centers. The properties
are located in 31 states and total 89.3 million square feet including 9.3
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.

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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