Lebovitz Says Macy's Not On Horizon At Hamilton Place

But CBL Continues To Update Its Properties

Wednesday, January 16, 2008

A Macy's is not on the horizon at Hamilton Place Mall for the near future, but CBL & Associates is continuing to update the mall and its holdings that now are scattered in 27 states, Alan Lebovitz told the Hixson Chamber of Commerce on Wednesday.

"We are not going to get a Macy's any time soon," said Mr. Lebovitz, whose grandfather started the Chattanooga-based firm that has grown to a $10 billion conglomerate.

He noted that Hamilton Place once had six anchor department stores and is down to four.

Mr. Lebovitz said the closing of the theatre inside the mall will be followed by the move of Barnes and Noble Booksellers in that spot as well as a new restaurant.

He said CBL is continuing to look for ways to update its properties, noting that the firm took an old drug store space in the Hamilton Place area and replaced it with Coldwater Creek and other popular new stores.

Katie Reinsmidt, who was recently promoted to director of corporate communications and investor relations for CBL, told the club that the firm is now involved in overseas ventures.

She said one in Brazil is well placed since there recently was a huge discovery of off-shore oil nearby.

Another is in China, she said.

Ms. Reinsmidt said Hamilton Place may be getting a facelift. She said CBL likes to update its properties every 8-10 years.

CBL now has 162 properties, including 84 shopping centers.

Mr. Lebovitz said the family got into the shopping center business by accident. He said his grandfather was in the movie business, and sold his theatres - except for a drive-in at Brainerd that had a damaged screen.

He said his grandfather wound up developing Eastgate Mall at that site.

Mr. Lebovitz, who works in the expansion portion of the business, said the firm is continuing to "look for new deals and to grow."

He said as shopping centers change, CBL is adapting. One new property, he said, will include a hotel, 80,000 square feet of office space, 200 apartments/condos, and 700,000 square feet of retail.

"It's very exciting to try something different," he said.


Compass Auctions To Auction Custom Motorcycle

Compass Auctions and Real Estate announced that the Auction Firm has been selected to host both the online and live auction of a one-off custom KTM 450 in cooperation with RedBull Media House to benefit the Kurt Caselli Foundation.  “This is a once in a lifetime opportunity to own a unique piece of history,” said Steven Holt, vice president of Compass. “It ... (click for more)

LBMC Gains Bryan Mattice

LBMC, PC, one of the Southeast’s largest accounting and business consulting firms, has added Bryan Mattice to the Accounting and Assurance services team. Bryan Mattice, CPA,   serves as a staff accountant serving a variety of industry clients in the Accounting and Assurance service team. Mr. Mattice comes to LBMC from BlueCross BlueShield of Tennessee where he worked ... (click for more)

Two North Shore Sold To Pennsylvania Real Estate Firm For Almost $24 Million

The Two North Shore commercial development on Manufacturers Road in North Chattanooga has been sold to a Pennsylvania real estate firm for  $23,983,363. Steve Arnsdorff, who developed the successful center from the ground up and has continued to manage it, said the deal closed last week. He said the sale for the property at 319 Manufacturers Road is to Stoltz Real Estate ... (click for more)

Lookout Valley Middle High School Closed Friday Due To Water Main Break

County school officials said late Thursday night that LookoutValley Middle High School will be closed Friday due to a water main break. Officials said, "This is an official message from the Hamilton County Department of Education to the parents, faculty, and staff of Lookout Valley Middle High School.  Please accept our apologies for the lateness of this message. "Due ... (click for more)

Thanks For Publishing The Stokes Photo Book

I pre-ordered the Stokes Photo Book and picked it up Wednesday . The covers and content are very high quality and contain photos you will not see anywhere else.  This book of photos is worth much more than $35.  I have seen many historic photos of my hometown Chattanooga, but this collection is amazing. My favorites are National Cemetery, Confederate Cemetery near ... (click for more)

Roy Exum: Saban: ‘Ratings Don’t Matter’

When the first College Football Playoff rankings were released earlier this week, Alabama football coach Nick Saban got it right on the button when he shrugged, “I don't even care, to be honest with you." "To me, none of it matters, What does it matter?” he laughed at the Tide’s No. 6 ranking. “I mean, it only matters where you end up at the end. So what matters to us is how ... (click for more)