March 5, 2002 |
General Growth Properties Inc., the second-largest U.S. shopping mall owner, on Monday agreed to buy JP Realty Inc. for about $1.1 billion in cash, stock and assumed debt, adding 18 regional malls in the West. JP Realty investors and limited partners will receive $26.10 in cash for each share, 6.8% above the closing price Friday. General Growth will pay $524 million in cash and assume $460 million in debt and $116 million of preferred shares, Chief Executive John Bucksbaum said.
August 21, 2004 |
General Growth Properties Inc., a Chicago-based developer of regional shopping malls, is buying Rouse Co., a pioneer of entertainment mall retailing whose properties include Boston's Faneuil Hall Marketplace, for about $7.2 billion in cash. The deal announced Friday would provide General Growth, which owns the Glendale Galleria, with more leverage in negotiations with top retailers and would give it some of the nation's premier mall sites, including the Fashion Show Mall in Las Vegas.
August 14, 1986
The City Council has given General Growth of California until Sept. 5 to deliver a specific development proposal for a major shopping mall across from City Hall. General Growth is one of two firms chosen to build the $225-million Towne Center complex, a series of office buildings, a high-rise hotel and retail stores on Bloomfield Avenue at 183rd Street. General Growth has apparently had difficulty finding enough major department stores willing to commit to the mall.
June 13, 1995 |
Sears May Sell Its Malls to General Growth: Sears, Roebuck & Co. said it is negotiating the sale of its shopping center properties to General Growth Properties Inc., moving the retailer closer to an exit from the real estate business. Sears said it will negotiate only with the Des Moines, Iowa-based real estate investment trust to unload Homart Development Co.'s mall portfolio, which has been valued at about $1.6 billion.
April 29, 2012 |
Owners of the Glendale Galleria have launched a massive makeover intended to update the regional shopping center in downtown Glendale. Improvements to the 1.5-million-square-foot center will include the previously announced addition of a Bloomingdale's department store in the space formerly occupied by Mervyns. The Bloomingdale's store is set to open next year. Other changes intended to update the mall will be the most comprehensive since the mall first opened in 1976 and "nothing short of dramatic," General Manager Larry Martin said.
CALIFORNIA | LOCAL
November 19, 2005 |
Developer Rick Caruso has won the latest round, and perhaps the fight, over the future of a chunk of Glendale's downtown. The 2nd District Court of Appeal ruled Thursday against General Growth Properties, which owns the Glendale Galleria shopping mall, in its attempt to halt Caruso's proposed mixed-used project scheduled to go up across the street. The court ruled that the project's financial reports and agreements met legal standards, and that its environmental impact report was sufficient.