Revenues were up for CBL & Associates, owners of Northpark Mall in Joplin, during the first quarter, according to a company news release.
Revenues increased 22.5 percent to $210,905,000, up from $172,159,000 in the first quarter of 2004. Same center net operating income was up by 10.7 percent
According to the news release, CBL Chairman and Chief Executive Officer Charles B. Lebovitz said, "Much of the current industry discussion has focused on department store consolidation, select retailers moving to off-mall venues and the appeal of lifestyle-oriented centers to consumers. We look at these trends as opportunities to continue to recapture underperforming department store space, add exterior-oriented restaurants and upscale lifestyle elements to each of our malls, and convert outparcels and adjoining property into new development projects. In each instance, these initiatives align perfectly with our focus to continuously redevelop and retenant our properties in an effort to offer consumers the most exciting shopping venues available. We expect to continue to successfully execute these initiatives in 2005 and beyond."