CBL & Associates to renovate 4 malls |
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Tue, 09 Jan 2007 20:39
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CHATTANOOGA, Tenn. - Shopping mall developer CBL & Associates Properties Inc. said Tuesday that it will renovate four malls this year.The properties include Brookfield Square in Milwaukee (Brookfield), Wis.; Georgia Square in Athens, Ga.; Honey Creek Mall in Terre Haute, Ind., and Mall del Norte in Laredo, Texas.The more than $49 million in renovations will include remodeled entrances, enhanced interior lighting and new interior decor and flooring.The projects will start in the first quarter, with Georgia Square, Honey Creek Mall and Mall del Norte expected to be completed in the fourth quarter. Brookfield Square is set for completion in September 2008.'The renovations will strengthen each mall's dominant position in its market area. These remodeling projects will also facilitate future expansions, the addition of lifestyle elements as well as attract additional junior anchor stores and new specialty retailers and quality restaurants to the malls,' President Stephen Lebovitz said in a statement.CBL completed seven mall renovations last year.Shares of CBL added 16 cents to $42.67 in afternoon trading on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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