Development 90% Leased Prior to Construction Start
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc., (NYSE: CBL) today announced its
newest community center development, Parkway Plaza, a
134,100-square-foot project in Fort Oglethorpe, GA. Construction will
begin this June, with the grand opening scheduled for spring 2015. Once
complete, the 16+ acre site will offer several big name retailers that
are new to the area, including anchor stores Hobby Lobby, Marshalls and
Petco.
“Parkway Plaza is well-located and its retail lineup will add attractive
shopping choices to this highly trafficked retail corridor,” said
Michael Lebovitz, CBL’s Executive Vice President – Development and
Administration. “With CBL’s headquarters located in nearby Chattanooga,
this was an exciting opportunity to develop another great center close
to home. We are looking forward to announcing additional retailers as
the development progresses.”
Parkway Plaza is currently 90% leased with committed retailers such as
Hobby Lobby, Marshalls, Petco, Rack Room Shoes and Ross Dress for Less.
Parkway Plaza will be located on Battlefield Parkway next to the Walmart
shopping center in Fort Oglethorpe, GA.
For leasing information, please contact Alan Lloyd at 423.490.8386 or by
email at alan_lloyd@cblproperties.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 150 properties, including 91 regional malls/open-air centers.
The properties are located in 29 states and total 86.1 million square
feet including 5.6 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.
CBL & Associates Properties, Inc.
Media Contact:
Dan
Summerlin, 423-490-8315
Director of Corporate Relations
dan_summerlin@cblproperties.com
or
Investor
Contact:
Katie Reinsmidt, 423-490-8301
Senior Vice President -
Investor Relations/Corporate Investments katie_reinsmidt@cblproperties.com
Source: CBL & Associates Properties, Inc.