CHICAGO, Feb. 5 /PRNewswire/ -- General Growth Properties, Inc.
(NYSE: GGP) the country's largest property manager of third party owned malls
and the second largest owner and developer of shopping malls announced today
it has been awarded the management, leasing and marketing contracts for a
portfolio of 14 shopping malls owned by an institutional investor. The malls
are located in 12 states, comprised of approximately 8 million square feet of
gross leasable space area with 53 department stores.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990208/CGM015 )
"We're excited to be working with the owners and the existing mall teams
to enhance the customer traffic, retail sales and merchandise mix at the
properties," said Libby Lassiter, Senior Vice President, Asset Management.
"General Growth Properties, Inc. has long been recognized as the premier
manager of third party owned malls and our new client has recognized this and
taken the opportunity to utilize GGP's expertise in the shopping center
industry."
General Growth Properties, Inc., is one of the nation's largest shopping
center owners, managers and developers. General Growth currently has
ownership interest in, or management responsibility for, a portfolio of 151
regional shopping malls in 39 states. The company portfolio totals more than
116 million square feet of retail space and includes over 15,000 retailers
nationwide. A publicly traded Real Estate Investment Trust (REIT), General
Growth Properties is listed on the New York Stock Exchange under the symbol
GGP. For more information on General Growth Properties please visit the
company Web site at http://www.generalgrowth.com .
SOURCE General Growth Properties, Inc.
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Related links:
http://www.generalgrowth.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990208/CGM015
PR Newswire Photo Desk, 888-776-6555 or 201-369-3467
Company News On-Call:
http://www.prnewswire.com/comp/110740.html or fax,
800-758-5804, ext. 110740
CONTACT:
David Keating, Manager, Media and Consumer
Relations for General Growth Properties, Inc., 312-960-6325, fax,
312-960-5484
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