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The Bon-Ton Stores, Inc. Announces Real Estate Update For 2013

The Bon-Ton Stores, Inc. (NASDAQ:BONT) today announced two new locations: a 120,800-square-foot facility at The Maine Mall in South Portland, Maine, and a 122,000-square-foot facility located at Glenbrook Square in Fort Wayne, Indiana. Both malls are owned by General Growth Properties, Inc. (NYSE:GGP). The Company expects to begin remodeling the stores in February 2013 and be completed by mid-September 2013.

Brendan Hoffman, President and Chief Executive Officer, stated, “We are pleased to announce the transactions with GGP which afford us entrée into two new markets and, in Maine, a new state. The Ft. Wayne Carson’s will be our 14 th store in the state of Indiana. We believe our new stores will enhance the total shopping experience for consumers in these markets.”

The Maine Mall, a premier retail destination in the region, will be Bon-Ton’s first store in Maine. The new location will feature a complete merchandise assortment, including home. The Maine Mall is home to several specialty stores, including the Apple Store, H&M and Coach, and is currently anchored by Macy’s, Sears, jcpenney, Best Buy and Sports Authority.

Glenbrook Square, one of the largest enclosed super-regional shopping malls in Indiana, is situated within a three-mile distance from Fort Wayne’s central business district and anchors the city’s principal north suburban shopping area. The mall boasts several specialty stores and is anchored by Macy’s, jcpenney and Sears.

“Under the leadership of Brendan Hoffman, The Bon-Ton Stores have continuously offered customers an extensive assortment of quality merchandise at great values. They’re committed to provide shoppers an outstanding experience. The addition of Carson’s at Glenbrook Square and Bon-Ton at The Maine Mall will be a welcome addition for our customers in these markets,” said Sandeep Mathrani, Chief Executive Officer, GGP.

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania, and Milwaukee, Wisconsin, operates 273 department stores, which includes 11 furniture galleries, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger’s and Younkers nameplates and, in the Detroit, Michigan area, under the Parisian nameplate. The stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.

General Growth Properties, Inc. is a fully integrated, self-managed and self-administered real estate investment trust exclusively focused on owning, managing, leasing, and redeveloping high-quality regional malls. GGP's portfolio is comprised of 127 malls in the United States and 16 malls in Brazil comprising approximately 135 million square feet. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.

Stock quotes in this article: BONT 

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