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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs