News

Groundbreaking Ceremony for High Pointe Commons in Harrisburg, PA

Harrisburg, PA. — CBL & Associates Properties, Inc. (NYSE: CBL), along with joint venture partner, High Real Estate Group, today held a groundbreaking ceremony for High Pointe Commons, an approximately 318,000 square-foot shopping center development, including outparcels, located in Harrisburg (Swatara Township), PA. High Pointe Commons is a 50/50 joint venture between the firms; and is scheduled for completion in October 2006.
 
Commenting during the groundbreaking ceremony, Mark Mancuso, CBL & Associates Properties, Inc., Senior Vice President, Director of Community Center Development – New England Office, said, "With site work now underway, we are excited to move forward with this shopping center development.  High Pointe Commons will serve both the Harrisburg and Hershey market areas with a broad range of shopping options including two of the most successful retailers in the country — Target and JCPenney.  We look forward to the grand opening celebration this October."    
 
Located at the intersection of Interstate 283 and Lindle Road, High Pointe Commons will be anchored by a 127,000 square-foot Target and a 99,000 square-foot JCPenney (additional retailer information below).  It will also offer approximately 73,000 square feet of additional small shops and 19,000 square feet of outparcel space.  High Pointe Commons trade area includes the southeast quadrant of the greater Harrisburg market and Hershey, PA, with a population base of more than 460,000.  The highly visible site, which is easily reached via nearby PA Route 322, will also benefit from an average daily traffic count of 65,000 cars on Interstate 283.
 
H. Stephen Evans, managing director of High Real Estate Group's retail division, commented, "This is a monumental day for High Real Estate Group as we enter into our first major development in the retail sector.  We are excited to work with CBL, one of the largest and most experienced developers in the country.  We know combining our resources and expertise will make High Pointe Commons an overwhelming success and will bring some much-needed retail into the market area.  We will provide the residents of Swatara Township and nearby communities an exciting, new, close-to-home shopping environment.  This project is one of several in Swatara Township which will bring new vitality to Harrisburg's east shore."    
    
Greenfield Architects, Ltd. of Lancaster, PA, designed High Pointe Commons. High Construction Company also of Lancaster, PA, is the general contractor.  Each is an affiliate of High Real Estate Group.  Bohler Engineering of Chalfont, PA, will serve as the civil engineer.
 
Persons interested in learning more about leasing space should contact Lewis Hilton, leasing manager, CBL & Associates Properties, Inc., CBL Center, Suite 500, 2030 Hamilton Place Blvd., Chattanooga, TN 37421, telephone 800-333-7310, ext. 354, E-maillewis_Hilton@cblproperties.com  or Dan Backer, assistant project manager, Watermill Center, Suite 395, 800 South Street, Waltham, MA 02453-1436, telephone 888-258-0766, E-maildan_backer@cblproperties.com.  For outparcel information, please contact Tom Reddy, assistant director of peripheral property, at the same address and phone number above, ext. 266, E-mailtom_reddy@cblproperties.com.
 
About High Real Estate Group
High Real Estate Group, based in Lancaster, PA, is a full-service real estate organization providing development, industrial/commercial brokerage, asset and property management, corporate real estate, strategic planning and consultation, appraisal, construction, architecture, hospitality and investment services.  With offices and properties throughout the eastern United States, the company owns and manages over 9 million square feet of industrial/commercial, retail, multi-family and hotel properties.  More information is available by visiting highrealestategroup.com.
 
About CBL & Associates Properties, Inc.
CBL is one of the largest and most experienced owners and developers of malls and shopping centers in the country. CBL owns, holds interests in or manages 132 properties, including 79 regional malls/open-air centers.  The properties are located in 26 states and total 74.0 million square feet including 2.0 million square feet of non-owned shopping centers managed for third parties.  CBL currently has seven projects under construction totaling 1.7 million square feet including Phase II of Gulf Coast Town Center in Ft. Myers, FL; an open-air shopping center located in Stillwater, OK; a community center, an associated center and three expansions.  In addition to its corporate office in Chattanooga, TN, CBL's regional office is located in Boston (Waltham), MA.  Additional information can be found at cblproperties.com.

High Pointe Commons Retailer Information
JCPenney, one of the America's largest department stores, will be designed in the company's latest format to make shopping even more convenient and enjoyable for customers. In addition to JCPenney's tremendous offering of style and quality at smart prices, customers will experience wider aisles for shopping carts, improved lighting and expedient customer service centers. The new store layout helps shoppers easily locate major brands such as Arizona Jean Co., Chris Madden for JCPenney Home Collection, nicole by Nicole Miller, SouthPole, Worthington, Stafford, W, Bisou-Bisou, Oshkosh, Nike, St. John's Bay and more.  Reflecting the company's "It's All Inside" message, the store features a portrait studio, an optical center and a full-service salon that offers professional hair styling services, pedicures, manicures, facials, waxing and other skin care services. In addition, customers can place orders or pick up catalog and Internet purchases at the store's catalog desk.  
 
TARGET is America's second largest general merchandise retailer with a mix of trend-right style, high quality, affordability and attractive stores.  Target features the latest fashions for women, men, baby and kids, as well as merchandise and products for the home including furniture, electronics, toys, sports and entertainment.  The store combines general merchandise with a full-service food offering including a bakery, deli and coffee bar. 
January 30, 2006