Market Overview

CBL Properties Announces Redevelopment Plans at Kirkwood Mall in Bismarck, North Dakota

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CBL Properties (NYSE:CBL) today announced the first phase of redevelopment plans for the former Herberger's department store building at Kirkwood Mall in Bismarck, North Dakota. Kirkwood Mall will welcome three fast casual restaurants, including Five Guys as well as new-to-market Blaze Pizza and Chick-fil-A. As part of the project, roughly 40,000 square feet of the former Herberger's building will be demolished to make way for these new restaurants. The remaining 52,000 square feet will be utilized in future phases, which will include the addition of new retail or alternative uses. An additional pad is being created in the former Herberger's parking area, which is available for restaurant or service uses. Details will be announced once plans are finalized.

"We are thrilled to bring these in-demand dining options to the Bismarck community," said Stephen Lebovitz, chief executive officer, CBL Properties. "Kirkwood Mall holds the dominant position in the market, offering a number of exclusive tenants including Carter's|OshKosh B'gosh, Sephora, H&M, and Target. The addition of Blaze Pizza, Five Guys, and Chick-fil-A will complement the property's existing mix and further solidify Kirkwood's strength in the market."

Five Guys and Blaze Pizza will be built in the former Herberger's parking lot facing South 3rd Street, adjacent to SCHEELS. Chick-fil-A will be located on the north side of the former Herberger's parking lot facing South 3rd Street near I. Keating Furniture.

Construction on this project will begin this spring. More detailed information and grand opening details will be shared as plans are finalized.

About Kirkwood Mall

Owned and operated by CBL Properties (NYSE:CBL) of Chattanooga, TN, Kirkwood Mall features more than 85 great specialty shops and eateries and is anchored by I. Keating Furniture & Flooring, JCPenney, SCHEELS, and Target. For more information, visit www.ShopKirkwoodMall.com.

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 108 properties totaling 68.2 million square feet across 26 states, including 68 high-quality enclosed, outlet and open-air retail centers and nine properties managed for third parties. CBL continuously seeks to strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

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