CBL Announces Burlington to Join Northgate Mall in Chattanooga, TN

CBL & Associates Properties, Inc. (NYSE: CBL) today announced that Burlington Coat Factory, a national off-price retailer, will locate their first and only store in Chattanooga, TN at Northgate Mall. The new 63,000-square-foot store will be situated between Sears and JC Penney with entrances on the main mall as well as to the east parking lot. Several stores will be relocated to accommodate the redevelopment. Construction is expected to begin in January with a grand opening scheduled for October 2014.

CBL’s President and Chief Executive Officer, Stephen Lebovitz, commented, “Since acquiring Northgate Mall in late 2011, we have been executing on our plans to revitalize the center and create a shopping destination that the Hixson community and the entire Chattanooga market will enjoy. We are pleased to take this next step forward with this latest announcement. The addition of Burlington to the center will not only enhance Northgate Mall by delivering the first store in the market for a great retail name, but also demonstrates our commitment to investing in the mall’s continued growth.”

CBL is also currently underway with a number of improvements to the Northgate Mall complex, including a multi-million dollar renovation of the mall. The renovation includes enhancements to the interior and exterior of Northgate Mall. The main entrance is receiving updates and portions of the parking lot are being repaved. Remodeling inside the mall includes new soft seating areas, new flooring as well as ceiling and lighting upgrades. The renovation will be completed this fall. A new Old Navy store is under construction next to the southwest mall entrance, with an opening anticipated in January 2014. In addition, the redevelopment of Northgate Mall’s associated center, located across the parking field from the mall, is nearing completion. T.J.Maxx received a new façade, Michaels celebrated their grand opening in early September and the grand opening of Ross Dress for Less is expected in the fall.

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About Burlington

Burlington is a national retailer offering style for less with up to 65 percent off department store prices every day. Departments include ladies’ dresses, suits, sportswear, juniors, accessories, menswear, family footwear and children’s clothing. It also includes an assortment of furniture and accessories for baby at Baby Depot, home décor and gifts, along with the largest selection of coats in the nation for the entire family. Burlington has more than 500 stores in 44 States and Puerto Rico. For more, visit www.BurlingtonCoatFactory.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 T.J.Maxx with Michaels and opening this fall, Ross Dress for Less. 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.

CBL also owns and manages Hamilton Place Mall, a 1.3-million-square-foot dominant super-regional enclosed mall as well as five associated centers and two office buildings, including its headquarters, in the Chattanooga market.

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 154 properties, including 93 regional malls/open-air centers. The properties are located in 31 states and total 89.3 million square feet including 9.3 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.