CBL & Associates Properties Inc.

  • Overview
THE SCOOP


Shopping savvy

CBL & Associates Properties is a real-estate investment trust (REIT) with a passion for fashion: The company owns, develops, manages and finances shopping malls and other retail properties. Its main markets are the Southeast and the Midwest, with 160 properties (including more than 70 malls) nationwide.  Main tenants include The Limited, The Gap and Foot Locker.  CBL is the fourth-largest mall REIT in the United States and the largest owner and manager of shopping centers in the Southeast.

Independent to public

CBL got its start in 1961 after Moses Lebovitz, Charles Lebovitz and Jay Solomon founded Independent Enterprises to develop commercial and shopping center real estate.  At the start of the 1970s, Independent merged with Arlen Realty & Development Corporation, a New York-based firm featuring a large portfolio of East Coast shopping centers.  Charles Lebovitz became president of Arlen's in 1977 and, with five associates, formed CBL & Associates a year later to develop malls and community centers.  Two years later, the firm opened its first property in Del Rio, Tex. CBL expanded east in 1988 with the opening of a regional office in Boston.  By 1993, the firm had established itself as an official REIT, trading on the NYSE as CBL.  In 2001, CBL acquired 23 properties from The Jacobs Groupâ€"the single-largest acquisition in company history.

Coast to coast

Major developments recently include the grand opening of the first phase of Hammock Landing, a 750,000-square foot open-air shopping center in West Melbourne, Fla., in April 2009 and the grand opening of The Promenade, a 700,000-square foot power center, in D’Iberville (Biloxi/Gulfport), Miss., in October of the same year.  In the second quarter of 2009, CBL posted total revenues of $266.5 million compared with the $272.5 million it posted in the prior-year period, representing a decline of 2.2 percent.


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CBL & Associates Properties Inc.


CBL Center
2030 Hamilton Place Boulevard, Suite 500
Chattanooga, TN 37421-6000
Phone: (423) 855-0001
Fax: (423) 490-8390
www.cblproperties.com

STATS


  • Employer Type: Public
  • Stock Symbol: CBL
  • Stock Exchange: NYSE
  • Chairman & CEO: Charles B. Lebovitz
  • 2008 Employees: 1,376

Key Financials

  • 2008 Revenue: $1,138 million

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