This new wing included two new anchors, Famous-Barr and Venture. Newman's became Heer's in 1987, the same year that a new wing was built, extending easternly from the JCPenney store.
Sears was later added adjacent to Montgomery Ward as a fourth anchor. At the time, the mall was anchored by Montgomery Ward to the north, JCPenney to the south, and local chain Newman's in the middle. In addition to its office in Chattanooga, CBL has a regional office in Boston (Waltham), MA.Northpark Mall opened in 1972, on Range Line Road on the east side of Joplin. CBL has eight projects under construction totaling approximately 2.1 million-square-feet including one regional mall - Imperial Valley Mall in the Imperial Valley region of California, an open-air shopping center in Southaven, (Memphis, TN) MS, three community centers and three expansions. The properties are located in 28 states and total 71.5 million-square-feet including 2.0 million-square-feet of non-owned shopping centers managed for third parties. CBL owns, holds interests in or manages 166 properties, including 69 enclosed regional malls. is one of the top five owners of shopping centers in North America and the largest owner of malls and shopping centers in the Southeast, ranked by GLA owned. In addition to a strong transportation base, Joplin is a commercial and healthcare center serving a regional population of approximately 600,000.ĬBL & Associates Properties, Inc. Joplin is at the center of major transportation corridors leading to Chicago and the Mexican border. Serving a trade area of over 200,000, Northpark Mall’s closest mall competition is 75 miles away. The mall was built in 1972, expanded and renovated in 1987 and again in 1996. Northpark Mall is located on Joplin’s main retail thoroughfare, Range Line Road. NorthPark Mall posted average mall shop sales of $308 per square foot in 2003. The property also includes two spaces that were formerly occupied by Montgomery Ward and ShopKo. Northpark Mall is a 991,076-square-foot mall that is currently 77.0% occupied and anchored by Famous Barr (The May Company), Famous Barr – Men’s, JC Penney, Sears and Hollywood Theaters. Laredo is recognized as the nation’s largest land port with more cross-border trade than California, Arizona, New Mexico and West Texas combined. With the closest competing mall over 140 miles away, Mall Del Norte serves a customer base of over 200,000 in its primary trade area and attracts consumers from Mexico including the immediately adjacent Nuevo Laredo (population of 650,000) and in Monterrey (population of 3.4 million), which is the country’s second largest industrial city. Located at the intersection of I-35 and Hillside Drive in Laredo, Mall Del Norte was originally built in 1977 and has been upgraded and expanded numerous times including a $2 million renovation of the food court and an expansion of the Beall’s store currently underway.
Mall Del Norte posted average mall shop sales of $350 per square foot in 2003. The property also includes a space formerly occupied by Montgomery Ward. Mall Del Norte is a 1,198,199-square-foot single-level mall that is currently 88.0% occupied and anchored by Dillard’s, Foley’s, JCPenney, Mervyn’s and Sears, as well as a Beall’s, Foley’s Home store and Joe Brand. In both cases, we are confident we can leverage these favorable characteristics to create dominant, thriving mall franchises." The Mall Del Norte and Northpark Mall trade areas are similar to other border and middle market cities in our portfolio in terms of population and income growth, diversity of the economic base and lack of mall competition. In addition, there are opportunities to achieve greater efficiencies in mall operations, specialty leasing and marketing. The properties offer significant opportunities to improve cash flow through re-tenanting and upgrading the malls and through creative use of the vacant anchor stores. Commenting on the announcement, Charles Lebovitz, chairman and chief executive officer of CBL & Associates Properties, said, "These acquisitions play to the strengths of our company they each possess market dominant positions in their respective markets.
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