![]() | |
Company type | Public |
---|---|
| |
Industry | Real estate investment trust |
Founded | 1978 |
Founder | Charles B. Lebovitz |
Headquarters | Chattanooga, Tennessee, U.S. |
Key people | Charles B. Lebovitz, Chairman Stephen D. Lebovitz, CEO Michael Lebovitz, President Farzana Khaleel, CFO |
Products | Shopping centers |
Revenue | ![]() |
![]() | |
Total assets | ![]() |
Total equity | ![]() |
Number of employees | 469 (2023) |
Website | cblproperties |
Footnotes /references [1] |
CBL Properties (previously CBL & Associates, Inc., then CBL & Associates Properties, Inc.) is an American real estate investment trust that invests in shopping centers and owns shopping malls, primarily in the Southeastern and Midwestern United States. The company is organized in Delaware with its headquarters in Chattanooga, Tennessee. [1]
The company's name is based on the initials of its founder, Charles B. Lebovitz.
In 1961, Moses Lebovitz, his son, Charles B. Lebovitz, and Jay Solomon founded Independent Enterprises. [2] In 1970, the company merged with Arlen Realty & Development Corporation, which owned shopping centers on the East Coast of the United States. [2] In 1978, Charles B. Lebovitz and five associates formed CBL & Associates, Inc. [1] [2] In March 1979, the company built its first mall, the Plaza del Sol Mall in Del Rio, Texas. [2] In 1987, the company built Hamilton Place in Chattanooga, its flagship mall. [2] In 1993, CBL & Associates Properties, Inc. was formed as a REIT and acquired all of the assets of CBL & Associates, Inc. [1] The company became a public company via an initial public offering. [2]
In 1998, the company acquired five properties near Nashville, Tennessee for $247.4 million in cash and securities. [3]
In 2001, the company acquired a 23-property portfolio from Richard E. Jacobs for $1.3 billion. [4]
In March 2005, the company opened Imperial Valley Mall in El Centro, California, its first mall on the West Coast of the United States. [5]
In October 2005, the company acquired Oak Park Mall, Hickory Point Mall, and Eastland Mall for $516.9 million. [6]
In 2007, the company acquired four malls in the St. Louis area from Westfield Group, for $1.03 billion. [7] [8]
In January 2017, the company acquired five properties from Sears for $72.5 million in a leaseback transaction. [9]
In October 2017, the company rebranded itself as CBL Properties from "CBL & Associates Properties". [10]
On March 20, 2019, the company settled a lawsuit that it overcharged tenants for electricity by setting aside a $90 million fund to be distributed to the plaintiffs. [11] On November 1, 2020, CBL filed for Chapter 11 bankruptcy. [12] [13] It emerged from bankruptcy protection in November 2021. [14]
GGP Inc. was an American commercial real estate company and the second-largest shopping mall operator in the United States. It was founded by brothers Martin, Matthew and Maurice Bucksbaum in Cedar Rapids, Iowa, in 1954, and was headquartered in Chicago, Illinois, from 2000. It was subject to the largest real estate bankruptcy in American history at the time of its filing in 2009.
PREIT is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states. The company was formerly known as Pennsylvania Real Estate Investment Trust.
W. P. Carey is a real estate investment trust that invests in properties leased to single tenants via NNN leases. The company is organized in Maryland, with its primary office in New York City.
Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana. Worldwide, it owns interests in 232 properties as of 2021.
Hamilton Place is an enclosed, two-story shopping mall in Chattanooga, Tennessee, United States, just off I-75. It was the largest shopping mall in the state of Tennessee from 1987 to 1998.
Fayette Mall is a regional shopping mall in Lexington, Kentucky, located at 3401 Nicholasville Road in southern Lexington. It is the largest mall in the state of Kentucky. The mall's anchor stores are Macy's, JCPenney, Dick's Sporting Goods, and Dillard's. The mall is among the largest shopping malls in the southeastern United States, boasting just under 200 stores plus a large food court.
Post Oak Mall is a regional shopping mall in College Station, Texas, United States, owned by CBL & Associates Properties. Construction on the mall began in summer 1979 and it opened February 17, 1982. It initially housed 80 stores with four anchors. A second phase, planned before the mall even opened, was completed in 1985, adding more floor space and bringing the mall up to 125 stores and six anchor stores. As of 2015, it also houses a small food court and two restaurants. The anchor stores are two Dillard's stores, JCPenney, and Conn's. There are two vacant anchor stores that were once Gordmans and Macy's.
Rivergate Mall is a super-regional shopping mall located in Goodlettsville, United States, just outside of Nashville, the state capital of Tennessee. Opened in October 1971, the mall features 1,129,035 square feet (104,890.8 m2) of gross leasable area, with approximately 80 stores and restaurants, as well as a food court. Rivergate Mall has two anchor stores: Dillard's and JCPenney. There are two vacant anchor stores that were formerly Macy's and Sears. Its original anchor stores were Cain-Sloan, Castner Knott, and JCPenney. The mall sits in the core of a shopping district that is shared by the city of Goodlettsville and the Nashville neighborhood of Madison. This area is colloquially referred to by locals as "Rivergate," after the mall. Rivergate Mall is managed by Hendon Properties.
Haute City Center, formerly Honey Creek Mall, is a shopping center in Terre Haute, Indiana, with 680,890 sq ft (63,257 m2) of gross leasing area. The mall has been owned by Out of the Box Ventures, a subsidiary of Lionheart Capital since 2019. The mall opened in 1968 as Honey Creek Square. The complex was expanded in 1973 and 1981, and was renovated in 1992 and 2007. The center was renamed to Honey Creek Mall at the time of the 1992 renovation. In 1999, a management contract for the mall was awarded to Trammell Crow Faison Regional Mall Services, a unit of Trammell Crow Co. of Dallas. The mall was then purchased by CBL & Associates Properties in 2004.
Trizec Properties, Inc., previously known as TrizecHahn Corporation, was a real estate investment trust headquartered in Chicago, Illinois. It was originally a Canadian company. The name is derived from the initials of the three groups (Tri) that formed Trizec Properties Ltd: Zeckendorf, Eagle Star, and Covent Gardens.
South County Center is a shopping mall located in Mehlville, Missouri, at the intersection between Interstate 55, Interstate 255, and U.S. Route 50. It opened on October 17, 1963 and was designed by Victor Gruen. it included a dome-roofed Famous-Barr, which became Macy's in 2006, a National Supermarket occupying the basement floor, which closed in 1973, and later JCPenney as anchors. Stix, Baer & Fuller,, was added in 1973 along with a new wing of stores. A Sears, a food court, and additional mall stores were added in 2001. In 2004, Several stores and restaurants were added that could be accessed from outside the mall including Qdoba, Applebee's, Noodle's and Company, and Border's. The anchor stores are Macy's, Dillard's, and JCPenney.
NNN Reit, Inc. is a real estate investment trust that invests primarily in high-quality properties that are subject to long-term NNN leases. It is organized in Maryland with its principal office in Orlando, Florida.
Eastland Mall is a shopping mall in Bloomington, Illinois. It opened in 1967 and has expanded several times in its history. It features more than 90 stores and a food court. The anchor store is Kohl's. There are 3 vacant anchor stores that were once Macy's, Bergner's, and Sears. The fifth anchor store, JCPenney, has been rebuilt, partially demolished, and subdivided into in-line mall retail space. The mall is owned and managed by CBL & Associates Properties.
Dalton Mall, formerly known as Walnut Square Mall is an indoor shopping center located in Dalton, Georgia
Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. It is managed by Barry Sternlicht. It was co-founded by Sternlicht and Robert Faith in 1991. In 1993, Faith left Starwood to found Greystar Real Estate Partners.
Rouse Properties was a real estate investment trust headquartered in New York City. The company owned 35 shopping malls in 22 states encompassing approximately 24.5 million square feet of retail space.
Arlen Realty & Development Corporation, also known as Arlen, was a real estate investment trust founded in 1959 by Arthur G. Cohen and Arthur N. Levien. In the early 1970s, it was one of the largest publicly traded real estate investment trusts. Arlen began by developing suburban shopping centers throughout the United States, and in 1971, it acquired discount retail chain E.J. Korvette. By 1975, Arlen owned and managed over 42 million square feet of shopping centers, and controlled over $1.7 billion of US real estate assets.
Hickory Point Mall is a shopping mall in Forsyth, Illinois, United States. The mall opened in 1978. The anchor stores are Kohl's, Von Maur, TJ Maxx, Hobby Lobby, Ulta Beauty, Ross Dress for Less, and Shoe Dept. Encore. The mall is managed by Namdar Realty Group. There are 3 vacant anchor stores that were once JCPenney, Sears, and Bergner's.
Washington Prime Group Inc. is an American real estate investment trust that invests in shopping centers. The company is organized in Indiana with its headquarters in Columbus, Ohio. From January 2015 to September 2016, the company had the name WP Glimcher. On June 13, 2021, Washington Prime filed for Chapter 11 bankruptcy.
Vici Properties Inc. is a real estate investment trust (REIT) specializing in casino and entertainment properties, based in New York City. It was formed in 2017 as a spin-off from Caesars Entertainment Corporation as part of its bankruptcy reorganization. It owns 54 casinos, hotels, and racetracks, 4 golf courses, and 38 bowling alleys around the United States and Canada.