|
|
|
MailTribune.com
  • Rogue Valley Mall owner reports increased profits

    General Growth Properties saw significant losses in 2012
  • Rogue Valley Mall owner General Growth Properties reported a third-quarter profit of $27.5 million, or 2 cents per share, after losing $208 million, or 23 cents per share, a year ago.
    • email print
  • Rogue Valley Mall owner General Growth Properties reported a third-quarter profit of $27.5 million, or 2 cents per share, after losing $208 million, or 23 cents per share, a year ago.
    The Chicago-based regional mall and shopping center company saw revenue from its operations rise to $283 million, up 22.5 percent from $231 million a year ago.
    The 27-year-old mall comprises 639,964 square feet, including anchor stores Macy's, Kohl's and JCPenney, and tenant space of 282,980 square feet.
    General Growth reported 96.6 percent of its space was leased at the end of September, although Rogue Valley Mall was 86.5 percent full.
    Rogue Valley Mall General Manager Jeff Barber said the 2,865-square-foot Calender Club and 4,643-square-foot haunted house have opened since the General Growth reporting period ended.
    In the next few days, Hickory Farms will open its 1,200-square-foot holiday site, Puzzle Lights will occupy 1,590 square feet, photo firm Sussman Studios will fill 924 square feet, and I&I, an importer of African goods, will take up 1,452 square feet.
    "We're also working on three more deals that are not signed yet," Barber said.
    General Growth reported its tenant sales increased 3.8 percent to $562 over the previous 12 months.
Reader Reaction

      calendar