Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/448937
The storm blew down a screen at a drive-in movie theater, one of several drive-ins and enclosed movie theaters operated by Lebovitz's grandfather, Moses. It was 1961, and rather than putting the screen back up, Moses decided to build a shopping center there: Eastgate Mall. "My dad expected he was going to be in the movie theater business," Lebovitz said, referring to his fa- ther, Charles B. Lebovitz. Instead, Moses told Charles to begin studying the shopping center business, and a new family business was launched that would, years later, result in the formation of CBL — later CBL & Associates Properties — today one of the largest shop- ping center REITs in the U.S. That storm has in fact already yielded one ICSC chairman: the current nominee's dad, who served during the 1996–97 term. And now the son is poised to become ICSC's 56th chairman in May if, as expected, he is elected at ICSC's annual meeting of members at RECon. He was nominated Jan. 22 during the Board of Trustees' midwinter meeting, in Newport Coast, Calif. And yet there is only so much credit the 1961 storm can get, for company launchings, association chairmen, S T o R M T H A T H I T Chattanooga, Tenn., at the start of the 1960s can take some credit, at least, for the nomination last month of Stephen D. Lebovitz, president and CEo of CBL & Associates Properties, Inc., to be ICSC's chairman for the 2015–2016 term. business growth or any other forms of seren- dipity. Lebovitz and his two brothers — Alan, the firm's senior vice president for asset man- agement; and Michael, who is executive vice president for development and administra- tion — have overseen the dramatic growth of CBL since it went public in 1993. Today the firm boasts a $10 billion market capital- ization and some $4 billion in equity value, about 80 malls or large open-air centers, and an additional 50 smaller community, power and open-air centers. "Under Stephen's skillful leadership, we have watched CBL grow and prosper, even during some very challenging economic times," said Michael P. Kercheval, ICSC's president and CEo. "ICSC has similarly A Top spot ICSC haS tapped CBL'S Stephen LeBovItz to Be ItS 2015–'16 ChaIrman By Edmund Mander I C S C N e w S 46 S C T / F e B r u a r y 2 0 1 5