General Growth Properties, Inc. Announces Signed Rental Spread For First Quarter 2011
[April 29, 2011] - General Growth Properties, Inc. (NYSE: GGP) (“GGP
” or the “Company
”) today announced the rental spread on leases signed during the first quarter of 2011.
The rental spread for leases signed in the first quarter of 2011 (under 10,000 square feet) is 4.8%
, when compared to the leases expired in the same period of 2011. This increase represents the growth in straight-line rental rates of the new leases signed against the expiring straight-line rent.
General Growth Properties has ownership and management interest in 169 regional and super regional shopping malls in 43 states. The Company portfolio totals 172 million square feet of space. A publicly-traded real estate investment trust (REIT), GGP is listed on the New York Stock Exchange under the symbol GGP.