Sunday, July 02, 2017 12:46 AM

CHATTANOOGA COMPANY REVIVES MALLS AS SUBURBAN TOWN CENTERS IN CHANGING RETAIL LANDSCAPE

Alan Lebovitz, left, was promoted to senior vice president of management for CBL. Mr. Lebovitz and his brother, Stephen, were photographed at the CBL Corporate headquarters on June 26, 2017. Alan Lebovitz, left, was promoted to senior vice... Photo by Robin Rudd /Times Free Press. As president of the South's biggest shopping mall owner and developer, Stephen Lebovitz still has the 1998 Time magazine that prematurely proclaimed on its cover "Kiss your mall Goodbye." Nearly two decades later, CBL & Associate Properties Inc. headed by Lebovitz still owns and manages shopping malls across America and continues to redevelop and add new tenants for its 118 retail properties. Lebovitz, a third-generation retail developer, bristles at those putting the death notices on the local mall. The CBL president insists that malls aren't going extinct - they're merely changing to capitalize on new trends, technologies and opportunities. The 56-year-old Lebovitz, who succeeded his father in 2010 as CEO of the company founded by and named for Charles B. Lebovitz, stresses that while retailers adapt to e-commerce, more than 90 percent of what Americans buy is still in brick-and-mortar stores. "We have great locations and properties and, contrary to what some suggest, people want ...

News source: Times Free Press

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