CBL Properties and Volta Partner to Bring EV Charging Stations to Select Properties

CHATTANOOGA, TN - Nov 19, 2021

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL Properties (NYSE: CBL) and Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, have partnered to offer EV charging at select CBL properties.

“We’re thrilled to announce this new partnership with Volta to add EV charging stations at our properties,” said Stephen D. Lebovitz, chief executive officer at CBL Properties. “We have seen increased interest in EV charging stations as sales of electric vehicles have increased. This is an additional amenity that we can offer our tenants and customers and is another example of our focus on sustainability across our portfolio.”

Founded on the premise that the electrification of mobility is likely to be a transformational shift, Volta builds and operates a nationwide EV charging network that has among the best utilization per station in the EV charging industry for the United States. Centered around capturing new spending habits expected to result from the shift to electric vehicles, Volta seeks to transform the fueling industry by building charging stations in locations where drivers spend their time and money, including grocery stores, pharmacies, and other retail locations.

New Volta charging stations will be installed at Arbor Place in Atlanta, Georgia, Pearland Town Center in Houston, Texas, and Laurel Park Place in Detroit, Michigan, with an opportunity to expand to additional properties in the future. Construction on the stations is currently underway and they will be operational in the next few months. CBL currently has 72 EV charging stations at properties across its portfolio.

About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.

About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market?dominant properties located in dynamic and growing communities. CBL’s portfolio is comprised of 99 properties totaling 63.0 million square feet across 24 states, including 61 high-quality enclosed, outlet and open-air retail centers and five properties managed for third parties. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit cblproperties.com.

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Source: CBL Properties

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CBL Properties
Symbol: CBL
CIK: 910612
Exchange: NYSE
Founded: 1961 (63 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Retail

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