Rouse Properties Announces Further Strong Progress in California
January 07 2016 - 6:45AM
Business Wire
- Enhances Operating Metrics and Social
Customer Experience at Mt. Shasta Mall -
- Strengthens Tenant Lineup with Diverse
Collection of National and Regional Retailers -
Rouse Properties, Inc. (NYSE:RSE) (“Rouse”) today announced it
has significantly improved key operating metrics at Mt. Shasta Mall
located in Redding, California, one of the Company’s eight malls in
the state, through execution of its leasing strategy with prominent
national and regional retailers, as well cosmetic enhancements to
the interior and exterior of the mall.
In less than one year since acquiring Mt. Shasta Mall in early
2015, Rouse has leased over 60,000 square feet, increasing leasing
levels from 90 to 95 percent. These changes include the addition of
Ulta Cosmetics, the nation’s largest beauty retailer, which is
opening a 9,000 square foot flagship store that will open this
summer.
“We are excited by the progress and success we are achieving
across our entire California portfolio, which is creating
considerable value for our investors as we continue to transform
these assets,” said Brian Harper, Chief Operating Officer of Rouse
Properties. “Further enhancing the quality of our assets and
improving the customer experience is something in which we take
great pride, working in conjunction with the entire Redding
community, and our efforts are already having a significant impact,
with inline sales increasing by over $25 per square foot since our
acquisition. The addition of Ulta is a perfect example of the
quality retailers we are adding. It was clear this market desired a
leading beauty retailer like Ulta and we are pleased to satisfy
this demand.”
Additionally, Rouse Properties is undertaking a number of
exciting changes to be made to Mt. Shasta Mall’s center court,
which are expected to be completed by mid-summer 2016. In addition,
Victoria’s Secret will undergo a full remodel and expansion to
feature the retailer’s latest design prototype, and Bath & Body
Works will relocate to a larger space in order to incorporate their
new concept, the White Barn Collection.
Mt. Shasta Mall is the only enclosed mall within a 70-mile
radius and is the dominant shopping destination in northeastern
California. The 521,000 square foot center is anchored by Macy’s,
JCPenney and Sears, and features over 60 specialty stores and
restaurants, such as The Buckle, Footlocker, American Eagle,
Zumiez, Journey’s, The Children’s Place, Old Navy and Johnson
Shoes, which opened a newly remodeled store the first weekend of
January. The mall was built in 1975 and was expanded in 2001 to
accommodate the only Macy’s within 150 miles and strong demand for
additional small shop GLA.
About Rouse Properties
Rouse Properties, Inc. (NYSE:RSE) is a publicly traded real
estate investment trust headquartered in New York City and was
founded on a legacy of innovation and creativity. Among the
country's largest publicly traded regional mall owners, the
Company's geographically diverse portfolio spans the United States
from coast to coast, and includes 36 malls and retail centers in 21
states encompassing approximately 25.2 million square feet. For
more information please visit: www.rouseproperties.com.
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