Business & Finance
Business and Finance
Business and Finance
Wed, January 26, 2011
Tue, January 25, 2011 CBL & Associates Properties Kicks Off 2011 with a Renovation Program at Four Properties
CHATTANOOGA, Tenn.--([ BUSINESS WIRE ])--CBL & Associates Properties, Inc. (NYSE:CBL) today announced the 2011 renovation program, with projects scheduled for four CBL Malls, including Burnsville Center in Burnsville, MN; Hamilton Place Mall in Chattanooga, TN; Oak Park Mall in Kansas City (Overland Park), KS; and RiverGate Mall in Nashville (Goodlettsville), TN. The multi-million dollar renovation program demonstrates CBLa™s ongoing focus on enhancing its properties and providing the best possible shopping experience for customers. The renovations are expected to be completed by the end of 2011.
"Management's Discussion and Analysis of Financial Condition and Results of Operations"
aThis program continues our commitment to reinvesting in our properties,a said Stephen Lebovitz, president and CEO. aIn addition to providing an enjoyable place to shop your favorite stores, dine or be entertained, our centers serve as important community gathering places. These improvements will go a long way to ensuring the dominant position of the properties in their respective markets. We are confident that the renovations will also contribute to the continued introduction of new and exciting retailers at our centers.a
Hamilton Place Mall and Oak Park Mall will receive the most extensive transformations. The upgrades will incorporate contemporary design improvements including updated entrances, new interior d©cor, tile flooring, new restrooms and a modern graphics package. The food courts will receive a completely new design, including new tables and chairs. Oak Park Mall will also receive additional exterior improvements including mall signage, parking lot resurfacing, new landscaping, parking lot lighting, and a Park and Ride parking lot and shelter. The transportation related improvements at Oak Park Mall will be funded through a Transportation Development District (TDD).
The renovation at RiverGate Mall will involve modern updates including new flooring and paint as well as all new amenities such as soft seating areas and d©cor. Burnsville Center will receive new flooring throughout most of the mall.
In addition to the 2011 renovation program, CBL continues to add exciting and in-demand retailers and restaurants throughout its portfolio. At Oak Park Mall, CBL recently redeveloped a former restaurant to bring in the areaa™s only American Girl store as well as Barnes & Noble Booksellers. In Chattanooga, CBL introduced a number of afirstsa for the market at Hamilton Place, including DSW, Bare Escentuals, Coach, Tommy Hilfiger, as well as Forever 21, Teavana and Sephora opening later this year. Claire's, D.E.B., Sport Seasons, Mastercuts, John's Cheeseburger, and Auntie Anne's celebrated their openings recently at Rivergate Mall along with the first Best Buy Mobile in Nashville. At Burnsville Center the new retailers recently added include Becker Furniture, Best Buy Mobile, El Azteca Mexican Restaurant, and Noodles & Company.
About Burnsville Center
Burnsville Center is a 1.1 million square-foot super regional shopping center located south of Minneapolis in the flourishing suburb of Burnsville, Minnesota. The mall is the only super regional mall located south of the Minnesota River. Burnsville Center has over 150 specialty retailers including aerie, Charlotte Russe, dELia*s, Express/Express Men, Victoriaa™s Secret and Zumiez. More information can be found by visiting [ www.BurnsvilleCenter.com ]
About Hamilton Place
Hamilton Place is a more than one million square-foot, super regional shopping destination with seven anchors and more than 160 specialty stores including Ann Taylor, Banana Republic, Hollister Co., Jos. A. Bank, and Victoriaa™s Secret. Hamilton Place is the focal point of a more than 200-acre retailing complex that includes five associated centers, plus 36 freestanding businesses and an extensive list of upscale eating establishments including Abuelos, Big River Grille, Bonefish Grill, Carrabbaa™s, J. Alexanders and P.F. Changa™s China Bistro. National retailers include LOFT, Chicoa™s, Coldwater Creek, J. Jill, Talbota™s, ULTA and Academy Sports. More information can be found by visiting [ www.HamiltonPlace.com ]
About Oak Park Mall
Oak Park Mall is a more than 1.5 million square-foot, high-performing shopping destination featuring four department stores including the areaa™s only Nordstrom, plus more than 185 specialty stores and restaurants. Specialty stores include American Girl, Arden B., Banana Republic, Bare Escentuals, bebe, Chicoa™s, Coach, Lacoste, LUSH, Naartjie Kids, Puma, Sephora, Teavana, White House Black Market and XXI. Several restaurants are located on the mall periphery including a recently opened Cheddara™s Casual Cafe, Mimia™s Cafe, On The Border and Outback Steakhouse. More information can be found by visiting [ www.TheNewOakParkMall.com ]
About RiverGate Mall
RiverGate Mall anchors the northern quadrant of Nashvillea™s retail market and is home to more than 150 specialty stores including Abercrombie & Fitch, A©ropostale, Bath & Body Works, The Buckle, The Childrena™s Place, Express, Gymboree, Hollister Co., and New York & Company. More information can be found by visiting [ www.RiverGate-Mall.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 159 properties, including 84 regional malls/open-air centers. The properties are located in 28 states and total 85.6 million square feet including 2.8 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, Tenn., CBL has regional offices in Boston (Waltham), Mass., Dallas (Irving), Texas, 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.
