Cribb to expand Colonial Properties' Florida Retail Development Activities
BIRMINGHAM, Ala., Dec. 16 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) (the "Company") today announced the appointment of Tim Cribb
as Senior Vice President, Retail Development with primary responsibility for
the development of retail assets in Florida. Cribb will be located in the
Company's Orlando office and will report to William Leitner, Executive Vice
President, TRS Retail Development.
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"Tim is a significant addition to our Retail Development Team," stated
Leitner. "Tim has a wealth of real estate experience as vice president of
retail development with Northwest Atlantic Partners in Washington, DC and as
senior real estate manager with Wal-Mart." Most recently, as real estate
developer with Northwest Atlantic Partners, Cribb led the development team
that managed Northwest Atlantic's exclusive relationship with Costco.
Prior to Cribb's employment with Northwest Atlantic, he worked as senior
real estate manager with Wal-Mart and was responsible for new store
development in Florida and Hawaii. Over the last six years Cribb and his team
developed 39 projects totaling 6.7 million square feet of retail space.
Cribb, a member of the Texas State Bar and the International Council of
Shopping Centers, will join the Colonial Properties Trust team at the ICSC
Florida West Coast Idea Exchange in Tampa on January 7, 2004.
Colonial Properties Trust is a diversified REIT that, through its
subsidiaries, owns a portfolio of multifamily, office and retail properties
where you live, work and shop in Alabama, Florida, Georgia, Mississippi, North
Carolina, South Carolina, Tennessee, Texas and Virginia. Colonial Properties
Trust performs development, acquisition, management, leasing and brokerage
services for its portfolio and properties owned by third parties. Colonial
Properties Trust is a diversified REIT, which has a total market
capitalization of $2.8 billion. The cornerstone of Colonial Properties'
success is its live, work and shop diversified investment strategy. The
Company manages or leases 19,500 apartment units, 6.5 million square feet of
office space and 15.6 million square feet of retail shopping space. In 2003,
the National Association of Industrial and Office Properties (NAIOP) named
Colonial Properties Trust "National Developer of the Year". Additional
information on Colonial Properties Trust is available on the Internet
at http://www.colonialprop.com . The Company, headquartered in Birmingham, Ala., is
listed on the New York Stock Exchange under the symbol "CLP" and is included
in the S&P SmallCap 600 Index.
SOURCE Colonial Properties Trust
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Related links:
http://www.colonialprop.com
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CONTACT:
S. Lee Robertson, Senior Vice President -
Finance, +1-205-250-8788, or Linda S. Geiss, Vice President -
Corporate Affairs, +1-205-250-8768, both of Colonial Properties
Trust
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