Today, Rouse Properties, Inc. (NYSE: RSE), a national owner and operator of enclosed regional malls, announced the execution of leases with T.J. Maxx, ULTA Beauty and The Sports Authority at its Bayshore Mall located in Eureka, California. All three retailers are expected to open prior to the holiday 2013 shopping season, joining the recently opened Wal-Mart. These stores will be the first for each retailer in the North Coast region of California, with their closest stores over 100 miles away.
Rouse Properties also announced a multi-million dollar cosmetic renovation of the mall to be completed in 2013. The renovation is planned to include a new tile floor, soft seating and new common area amenities, upgraded interior lighting, a new children’s play area and refreshed pylon and directional site signage. Wi-Fi is also being installed, allowing shoppers to connect to the internet throughout the mall.
“Our significant progress in the repositioning of Bayshore Mall, in such a short period since our formation, is a prime example of Rouse’s ability to not only attract leading retailers, but to implement a tailored strategy for each of the malls in our portfolio,” said Andrew Silberfein, president and chief executive officer for Rouse Properties. “As the only enclosed mall serving a 155 mile radius, we are delivering a substantially improved shopping environment for our customers and retailers at Bayshore Mall and strengthening our draw as a leading retail destination in the region.”
With over 1,000 stores, T.J. Maxx is the largest off-price retailer of apparel and home fashions in the U.S., and will replace a former Borders bookstore at the center. ULTA Beauty, the nation’s largest beauty retailer, will include a full-service salon specializing in the latest hair, nail and skin services. The Sports Authority, with over 450 stores across the country, will offer the most comprehensive assortment of sporting goods and accessories in the market. ULTA and The Sports Authority will replace a former theater and previously unproductive in-line space.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts