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Last Updated ( Tuesday, 30 July 2013 15:55 )
DATE_FORMAT_LC2=Tuesday,July 30 2013 12:00:00 am EDT   
Rouse Properties Acquires Greenville Mall for $50.3 Million

Greenville, N.C. — Rouse Properties Inc. has purchased the 460,800-square-foot Greenville Mall in Greenville for nearly $50.3 million. The seller was a private partnership managed by Gregory Greenfield & Associates. The property is the only enclosed regional mall within a 40-mile radius and serves a trade area of more than 400,000 people, according to Rouse Properties.

The development opened in 1966 and was renovated in 2001. The center is anchored by Belk and JC Penney. Dunham's Sports will also anchor Greenville Mall when it opens in late 2013. Additional tenants include Victoria's Secret, Buckle, American Eagle and Bath and Body Works. The mall is 95.5 percent leased with average inline sales of $375 per square foot. Rouse Properties assumed an existing $41.7 million non-recourse loan with a 5.29 percent interest rate and a December 2015 maturity date.

Rouse Properties is a publicly traded real estate investment trust based in New York City. The company's portfolio includes 32 malls in 19 states totaling 21.8 million square feet.

 

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