This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

CBL Announces Renovation And Redevelopment Plans For Northgate Mall In Chattanooga, TN

Stocks in this article: CBL

CBL & Associates Properties, Inc. (NYSE: CBL) today announced renovation and redevelopment plans for Northgate Mall in Chattanooga, TN. Phase I of the project will include the redevelopment of the adjacent T.J. Maxx anchored community center, adding Ross Dress for Less and Michael’s Arts & Crafts. Construction will begin on the associated center in early 2013 with completion anticipated in fall 2013.

In addition, CBL will commence a multi-million dollar renovation of Northgate Mall. The renovation will include enhancements to the interior and exterior of Northgate Mall. The main entrance will receive updates and portions of the parking lot will be repaved. Remodeling inside the mall will include new soft seating areas, new flooring as well as ceiling and lighting upgrades. The renovation is scheduled to begin in summer 2013, with a completion anticipated in fall 2013.

CBL’s President and Chief Executive Officer, Stephen Lebovitz, commented, “Since our acquisition of Northgate Mall last year we have been looking forward to unveiling plans to enhance the overall shopping experience and create the best retail destination for Hixson and the surrounding areas. It is exciting to formally begin this process with today’s announcement as we work towards completion of this work in advance of the 2013 holiday season.

Lebovitz added, “This announcement represents just the first phase of our plans to revitalize the center. Northgate Mall continues to provide strong opportunities to improve its merchandising mix through utilizing available space and upgrading the retail offerings. We will be adding more new stores and restaurants and look forward to providing updates on further improvements in the near future.”

For leasing information please contact Jason Shelton by telephone at 423.490.8242 or by email at jason_shelton@cblproperties.com.

About Northgate Mall

Northgate Mall is an 823,000-square-foot enclosed regional mall located on Highway 153 and Hixson Pike/State Route 319 in CBL’s hometown of Chattanooga, Tennessee. Chattanooga has been experiencing tremendous growth with several major new employers entering the area, including North America’s only Volkswagen manufacturing plant. Northgate Mall is anchored by Belk, JC Penney and Sears and offers 60 specialty shops and restaurants. The property also features a freestanding 14-screen state-of-the-art Carmike Cinema and a 70,000-square-foot community center occupied by TJ Maxx and Catherine’s. The property was originally developed in 1972 by Arlen Shopping Center Group (“Arlen”) under the direction of Charles B. Lebovitz. In 1978, Lebovitz and five associates left Arlen to form CBL & Associates. Northgate Mall underwent renovations in 1991 and 1997 and was expanded between 2005 and 2008.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs