Jordan Creek Town Center Breaks Ground Sept. 23
DES MOINES, Iowa, Sept. 23 /PRNewswire-FirstCall/ -- General Growth
Properties, Inc. (NYSE: GGP) will celebrate its homecoming to Iowa on
September 23 with a groundbreaking ceremony for the 200-acre Jordan Creek Town
Center located in West Des Moines. Jordan Creek Town Center is expected to
open August 4, 2004.
"General Growth is pleased to be returning to central Iowa and developing
one of the country's premier entertainment and shopping destinations," says
CEO John Bucksbaum, who is the son of Matthew Bucksbaum. Matthew Bucksbaum
founded General Growth with his brothers Martin and Maurice in Iowa in 1954.
Matthew Bucksbaum still serves as chairman of the board. The company was
headquartered in Des Moines from 1963 until 1995 when it acquired Homart
Development Co. from Sears and relocated its headquarters to Chicago,
Illinois.
The Bucksbaums developed their first shopping center and the first ever
shopping center in Iowa in 1954, when they created Town and Country Shopping
Center. Today, General Growth owns and/or manages 167 centers in 41 states.
The company portfolio totals approximately 144,000,000 square feet of retail
space and includes over 16,000 retailers.
"General Growth's acquisitions and development of retail properties are
strategic," says Ron DenAdel, Vice President of Development for General Growth
and lead developer for the Jordan Creek Town Center. "Jordan Creek Town
Center will be a premiere entertainment destination for the state of Iowa and
remains consistent with General Growth's philosophy of providing customers
what they want, when they want it and where they want it."
Delivering value is what the company has in store for West Des Moines and
Jordan Creek Town Center.
"We're excited about the premier retailers that have already announced
their intention to locate at Jordan Creek," said DenAdel.
General Growth Properties announced last spring Williams-Sonoma, Pottery
Barn, Ann Taylor, Chico's, Build-A-Bear Workshop, abercrombie, Abercrombie &
Fitch, and Hollister will join anchor stores Dillard's, Scheels All Sports and
Famous-Barr.
Jordan Creek Town Center is a $200-million, 200-acre retail, dining,
entertainment and recreation development. The two million square foot project
includes: a two level enclosed mall featuring a streetscape design; a 3.5 acre
lake surrounded by quality restaurants, a hotel and amphitheater; and a
village which is a collection of large and small retailers in an open-air
lifestyle design.
General Growth Properties, Inc. is one of the nation's largest shopping
center owners, managers and developers. 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
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990208/CGM015
PR Newswire Photo Desk, +1-888-776-6555 or +1-212-782-2840
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/110740.html
CONTACT:
Julie Jacoby of General Growth Properties,
Inc., +1-303-451-5985, mobile, +1-303-514-9223,
jjacoby@generalgrowth.com
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