CBL Properties Announces Site Work Is Set to Begin – Making Way for Premier Fashion Department Store, Von Maur, at West Towne Mall in Madison, Wisconsin

Company Release - 12/16/2020

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL Properties (OTCMKTS:CBLAQ) today announced that exciting things are in store for West Towne Mall in Madison, WI, as site work is set to commence later this month on the redevelopment of the former Boston Store. The demolition of the former anchor will make way for Madison’s first and only Von Maur department store. At opening, the new store will deliver its popular brands and merchandise to the city and surrounding area.

“We’re thrilled that work will soon be underway to raze the former Boston Store and further the transformation of yet another CBL property,” said Stephen Lebovitz, chief executive officer, CBL Properties. “Von Maur has been one of the most requested names by our customers with their unparalleled selection of brands and outstanding customer service. The new store will complement the upscale mix already available at West Towne Mall.”

Lebovitz added, “Despite delays caused by the pandemic, we are looking forward to making progress on this and the many other projects in our redevelopment pipeline as we position our properties for future growth and success.”

Once CBL completes demolition of the Boston Store, the site will be turned over to Von Maur to begin the ground-up development of the new 85,000-square-foot store that is expected to open in fall 2022. The one-story Von Maur store will feature an exterior brick façade and the retailer’s signature residential ambiance, complete with antiques, original artwork, open-floor plan and music from the on-site grand piano. Information about a grand opening will be announced as the project progresses.

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 107 properties totaling 66.7 million square feet across 26 states, including 65 high-quality enclosed, outlet and open-air retail centers and 8 properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

Investor Contact: Katie Reinsmidt, EVP & Chief Investment Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Media Contact: Stacey Keating, Sr. Director of Public Relations & Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com

Source: CBL Properties