CBL & Associates is a real estate company that owns and operates shopping malls across the United States

CBL & Associates Properties, Inc. is a publicly traded company that owns, manages, and leases space in shopping centers and enclosed malls. The company operates properties in more than 20 states, primarily in the Southeast, Midwest, and Mid-Atlantic regions. If you shop at a mall or visit a shopping center, there is a reasonable chance CBL & Associates owns or manages the property.

CBL & Associates makes money by leasing retail space to stores, restaurants, and other businesses. They also collect rent from parking fees, kiosk operators, and other services within their properties. The company maintains the common areas — hallways, restrooms, parking lots, and landscaping — and handles property taxes and insurance for the buildings they own.

As a shopper or visitor, you interact with CBL & Associates indirectly through the mall itself. If you have a question about mall policies, parking, or tenant information, you are dealing with their management. If you work in retail or food service and are considering a job at a CBL-managed property, understanding how the company operates can help you understand your employer's relationship to the landlord.

Key Takeaways

  • CBL & Associates owns and manages shopping malls and retail centers in more than 20 states, primarily in the Southeast and Midwest.
  • The company leases space to retail stores, restaurants, and other businesses, and maintains the common areas of the properties.
  • CBL & Associates is a publicly traded company, meaning its stock trades on the stock market and its financial information is public.
  • Shoppers and visitors interact with CBL properties through the mall experience itself, while retailers and service providers deal directly with CBL as their landlord.

How CBL & Associates Makes Money

CBL & Associates generates revenue primarily through base rent — the fixed monthly or annual payment that retailers pay to lease space. Larger anchor tenants like department stores pay different rates than smaller inline shops. The company also collects percentage rent from some tenants, which means they receive a small percentage of the store's sales above a certain threshold.

Beyond rent, CBL & Associates collects fees for common area maintenance (CAM charges), which cover the cost of operating the mall's shared spaces. Parking fees, if charged, go to CBL. Kiosk operators and temporary vendors also pay rent or fees to operate within the property. Some properties generate revenue from entertainment venues, movie theaters, or other anchor attractions.

The company's financial health depends on keeping the malls occupied and attracting customers. When retail stores close or move to other locations, CBL loses that rental income. This is why you may notice empty storefronts in some CBL properties — the company is working to find new tenants or may be repositioning the property to attract different types of businesses.

CBL Properties and Where to Find Them

CBL & Associates operates properties under different brand names and formats. Some are traditional enclosed shopping malls, while others are open-air shopping centers or lifestyle centers. The company's portfolio includes well-known regional malls as well as smaller community shopping centers.

To learn about a specific mall or shopping center is owned or managed by CBL & Associates, you can visit the company's website or contact the mall's management office directly. The mall's directory or information desk can tell you who owns or manages the property. CBL's investor relations website lists their current properties, though the list changes as the company buys, sells, or closes properties.

CBL & Associates has faced challenges in recent years as retail shopping patterns have shifted. Some properties have closed, and others have been repositioned to include more restaurants, entertainment, and services rather than traditional retail stores. This reflects broader changes in how people shop and spend time in public spaces.

Understanding CBL as a Landlord

If you work in retail or food service at a CBL-managed property, your employer leases space from CBL & Associates. This means CBL sets the terms of the lease, collects rent, and maintains the building. Your employer pays CBL rent and contributes to common area maintenance costs. These costs can affect how much your employer has available for payroll and operations.

CBL & Associates, like all commercial landlords, has the power to raise rent when leases renew, to enforce lease terms, and to decide whether to renew a tenant's lease. During economic downturns or when foot traffic declines, retailers may struggle to pay rent, and CBL may work with tenants to renegotiate terms or may pursue eviction. Understanding this relationship can help you understand decisions your employer makes about staffing, hours, or store closures.

If you have a complaint about mall conditions — broken restrooms, poor maintenance, safety issues — the appropriate contact is CBL's management office, not the individual stores. Most CBL properties have a management office on-site or a phone number listed in the mall directory.

CBL & Associates as a Public Company

CBL & Associates is a Real Estate Investment Trust (REIT), which is a special type of publicly traded company. REITs are required by law to own real estate and to distribute at least 90 percent of their taxable income to shareholders as dividends. This structure affects how the company operates and how it reports financial information.

Because CBL is publicly traded, its financial reports, earnings calls, and investor presentations are public information. You can find quarterly and annual reports on the Securities and Exchange Commission (SEC) website or on CBL's investor relations page. These documents show how many properties the company owns, how much rent it collects, and what challenges it faces.

The company's stock price fluctuates based on investor confidence in its ability to generate profits. During periods when retail is struggling or when specific CBL properties underperform, the stock price may decline. Conversely, when the company announces new acquisitions or strong earnings, the stock may rise. This does not directly affect shoppers, but it can influence how much money CBL has available to invest in property improvements or to weather economic downturns.

What Happens When a CBL Mall Struggles

When a CBL property experiences declining foot traffic or high vacancy rates, the company has several options. It may reduce operating costs by cutting hours or services. It may offer rent concessions to existing tenants to keep them from leaving. It may attempt to reposition the property by recruiting different types of tenants — for example, adding more restaurants and entertainment rather than traditional retail.

In some cases, CBL has closed properties entirely or sold them to other owners. Property closures typically happen after years of declining performance and represent a significant loss for the company. Before closure, CBL usually attempts multiple strategies to turn the property around.

As a shopper, you may notice changes at a CBL property over time — new stores, different hours, renovations, or unfortunately, closures. These changes reflect CBL's decisions about how to keep the property competitive and profitable in a changing retail environment.

How to Contact CBL & Associates

If you need to reach CBL & Associates about a specific property, start with the mall's management office. Most CBL properties have a directory or information desk that can provide contact information. You can also visit the company's main website, which lists properties by state and region.

For investor inquiries, employment questions, or corporate matters, CBL & Associates has a corporate headquarters and investor relations department. Contact information for corporate offices is available on the company's website. For specific property issues — maintenance, parking, tenant information — the local property management office is usually the fastest route.

If you are a retailer or service provider considering leasing space at a CBL property, you would work with the company's leasing department. Leasing agents can discuss available spaces, rental rates, and lease terms specific to that property.

Frequently Asked Questions

How do I know if a mall is owned by CBL & Associates?

Check the mall's directory or information desk — they can tell you who owns or manages the property. You can also visit CBL & Associates' website and search their property list by state. The company's investor relations page lists current properties, though the list changes periodically.

What is a REIT and why does it matter?

A REIT is a publicly traded company that owns real estate and must distribute most of its profits to shareholders. This structure means CBL's financial information is public and its operations are regulated differently than a private company. It also means CBL must focus on generating consistent income to pay dividends to investors.

Can CBL & Associates raise my employer's rent?

Yes. When a retail lease renews, CBL can propose new rental terms. If your employer's lease is up for renewal, CBL may increase rent based on market conditions, property performance, and the tenant's sales history. This is a normal part of commercial real estate and can affect your employer's business decisions.

What should I do if there is a maintenance problem at a CBL mall?

Report it to the mall's management office or information desk. Provide details about the location and nature of the problem — for example, a broken restroom or a safety hazard in the parking lot. The management office is responsible for maintaining common areas and can direct your concern to the appropriate department.

Is CBL & Associates still buying new properties?

CBL's acquisition activity varies based on market conditions and the company's financial position. You can find current information about acquisitions, sales, and property changes in the company's quarterly earnings reports and investor presentations, available on their website and the SEC website.