This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rouse Properties, Inc. Completes Acquisition Of Greenville Mall In Greenville, North Carolina

Rouse Properties, Inc. (NYSE: RSE), a national owner and operator of enclosed regional malls, today announced the acquisition of Greenville Mall, in Greenville, North Carolina, for a total purchase price of approximately $50,250,000, excluding transaction costs.

Greenville Mall totals approximately 460,800 square feet and is located in eastern North Carolina, approximately 80 miles east of Raleigh. As the only enclosed regional mall within a 40 mile radius, it serves a multi-county trade area of over 400,000 people. Greenville Mall opened in 1966, and was renovated in 2001. The mall is anchored by Belk Ladies, Belk Men & Home, jcpenney and Dunham’s Sports (opening late 2013), and features leading national retailers such as Victoria’s Secret, Buckle, American Eagle, Aeropostale, Bath and Body Works and Footlocker. The center is currently 95.5% leased with average inline sales of $375 per square foot. Rouse assumed an existing $41.7 million non-recourse loan, with a 5.29% interest rate and a December 2015 maturity date.

“The purchase of Greenville Mall is a perfect fit for Rouse’s acquisition program, as we continue to add to our growing portfolio of dominant, middle market regional malls,” said Andrew Silberfein, president and chief executive officer of Rouse Properties. “With strong in-line sales, low occupancy costs and the dominant competitive position afforded by being the only mall serving the marketplace, this asset presents another opportunity for Rouse to apply our platform to significantly improve the economic metrics, tenant quality and sales productivity of the asset.”

Greenville, North Carolina is the economic hub of the central and northern areas of eastern North Carolina, and boasts a diversified employment base supported by education, healthcare and manufacturing. The area is home to East Carolina University, the second largest university in the state with over 27,000 students and 5,000 faculty and staff. Vidant Medical Center, one of four academic medical centers in North Carolina, is located three miles from the mall and provides services to more than 1.4 million people a year.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs