CHICAGO, Feb. 7 /PRNewswire-FirstCall/ --
General Growth Properties, Inc. (NYSE: GGP), the country's second largest
shopping center owner, developer and manager announced it has reached an
agreement with Federated Department Stores, Inc. -- parent-company of
Macy's -- to transform the 62-thousand square-foot former JCPenney building at
Prince Kuhio Plaza (Hilo, HI) into a Macy's store that will feature men's and
children's fashions and home merchandise. The current Macy's location at
Prince Kuhio Plaza will feature an expanded assortment of women's apparel,
accessories and shoes.
"This is an opportunity for General Growth to continue to provide our
shoppers the best in retail at Prince Kuhio Plaza," said Bob Michaels,
president of General Growth Properties. "It's a win-win for all -- GGP,
Federated, Macy's and especially the shoppers of Prince Kuhio Plaza. This
addition will enable us to meet our customers' demands for an even larger
assortment of merchandise."
Prince Kuhio Plaza is the only regional enclosed shopping center on the
island of Hawaii (the largest of Hawaii's six major islands). The
500-thousand square-foot regional center is a big draw for cruise ship
tourists that visit Hawaii every year, in addition to being a top destination
for the more than 140-thousand residents on the big island.
General Growth Properties is the country's second largest shopping center
owner, developer and manager. General Growth currently has ownership interest
in, or management responsibility for, a portfolio of 169 regional shopping
malls in 41 states. The company portfolio totals approximately 146-million
square feet of retail space and includes over 16,000 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 and its portfolio of malls, 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
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NewsCom:
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Company News On-Call:
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CONTACT:
David Keating, Manager, Media and Consumer
Relations of General Growth Properties, Inc., +1-312-960-6325,
fax, +1-312-960-5484, or Jean Reisinger Coggan, of Federated,
+1-513-579-7315
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