Home | FAQ | Site Map | Terms & Conditions |
Contact Us
©2010-2013 General Growth Properties, Inc. All rights reserved.
©2010-2013 General Growth Properties, Inc. All rights reserved.
Portfolio Totals 1.8 million Square Feet of Gross Leasable Area
CHICAGO (February 23, 2012) – General Growth Properties, Inc. (NYSE: GGP) (“GGP”) todayannounced a definitive agreement for the acquisition of 11 Sears anchor pads withinits portfolio for $270 million. The acquisition is expected to close in the secondquarter of 2012 subject to customary closing conditions.
“This portfolio represents a significant opportunity to recapture valuable real estate within our portfolio,” said Shobi Khan, chiefoperating officer, General Growth Properties. “This acquisition also enhances several expansionand redevelopment opportunities including re-tenanting the anchor space andadding new in-line GLA. Over the nextseveral years we anticipate adding 319,000 square feet of new in-line space,the majority at Ala Moana Center, our most productive mall with sales surpassing$1,200 per square foot. In addition, welook forward to continuing to work with Sears as they represent an importantanchor tenant within our portfolio.”
PORTFOLIO INFORMATION
Upon closing, GGPwill own the following anchor pads. GGP anticipates Sears to continue occupyingeach space into 2013 until the final closing dates are determined.
| Mall | Location |
| Ala Moana Center | Honolulu, HI |
| Apache Mall | Rochester, MN |
| Bellis Fair | Bellingham, WA |
| Coral Ridge Mall | Coralville, IA |
| Fashion Place | Murray, UT |
| Mall of the Bluffs | Council Bluffs, IA |
| Market Place Shopping Center | Champaign, IL |
| Provo Towne Centre | Provo, UT |
| Quail Springs Mall | Oklahoma City, OK |
| West Oaks Mall | Ocoee, FL |
| The Woodlands Mall | Woodlands, TX |
ABOUT GGP
General Growth Properties, Inc. owns or hasan interest in 136 regional shopping malls comprising approximately 140 millionsquare feet of gross leasable area in the United States. GGP is headquarteredin Chicago, Illinois, and publicly traded on the NYSE under the symbolGGP. For further information pleasevisit the GGP website at www.GGP.com.