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 CBL’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.
“This program continues our commitment to reinvesting in our
properties,” said Stephen Lebovitz, president and CEO. “In 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.”
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 décor, 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 décor. 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 area’s only American Girl store as well as
Barnes & Noble Booksellers. In Chattanooga, CBL introduced a number of
“firsts” 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, Victoria’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 Victoria’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,
Carrabba’s, J. Alexanders and P.F. Chang’s China Bistro. National
retailers include LOFT, Chico’s, Coldwater Creek, J. Jill, Talbot’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
area’s only Nordstrom, plus more than 185 specialty stores and
restaurants. Specialty stores include American Girl, Arden B., Banana
Republic, Bare Escentuals, bebe, Chico’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 Cheddar’s Casual Cafe, Mimi’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 Nashville’s retail
market and is home to more than 150 specialty stores including
Abercrombie & Fitch, Aéropostale, Bath & Body Works, The Buckle, The
Children’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.
Source: CBL & Associates Properties, Inc.
Contact:
CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Vice
President - Corporate Communications and Investor Relations
katie_reinsmidt@cblproperties.com