CBL & Associates Properties, Inc. to Develop Parkway Plaza in Fort Oglethorpe, Georgia

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--

CBL & Associates Properties, Inc., 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.