Rouse Properties Announces Repositioning and Renovation of Mall St. Vincent
Company Release – 7/30/2013
NEW YORK–(BUSINESS WIRE)– Rouse Properties, Inc. (NYSE: RSE), a national owner and operator of enclosed regional malls, today announced it has commenced an extensive cosmetic renovation to reposition Mall St. Vincent as one of the leading retail and restaurant destinations in the greater Northwest Louisiana marketplace.
The repositioning will encompass a complete interior make-over, and a transformation of the outside of the mall into a new and engaging streetscape, complete with flagship restaurants with outdoor patios interwoven with exciting and new retailer concepts. Highlights of the project will include the creation of two, forty-five foot high glass cube enclosures at each of the main entrances, and a renovated center court. Other enhancements to Mall St. Vincent will entail numerous cosmetic upgrades to the center’s common areas, including new tile flooring, improved lighting, soft seating and higher end finishes and amenities. Free WiFi will also be available throughout the mall.
“This renovation is part of our strategy to reposition Mall St. Vincent as the dominant, higher-end retail and restaurant destination in the Shreveport-Bossier City market and the larger Northwest Louisiana trade area,” said Benjamin Schall, Chief Operating Officer of Rouse Properties. “We will be creating a retail experience that is unique for this marketplace, and one that offers a modern and vibrant atmosphere for our customers and retailers.”
Located directly off of Interstate 49, Mall St. Vincent is a 530,000 square foot, single-level, enclosed mall serving the Shreveport/Bossier City market, an area that attracts more than seven million visitors each year. Mall St. Vincent is anchored by Dillard’s and Sears and is home to existing national retailers such as Victoria’s Secret, American Eagle, GAP and Hollister. The renovation at Mall St. Vincent will be supported in part by an additional one percent sales tax enacted by the City of Shreveport earlier in 2013.
In 2012, Rouse Properties completed a multi-million dollar renovation at Pierre Bossier Mall, its sister mall in nearby Bossier City. Since its completion, Pierre Bossier Mall has experienced a nine percent increase in occupancy. In June 2013, Rouse Properties announced it executed a lease with Forever 21 to open a 35,000 square foot flagship store at Pierre Bossier Mall, the retailer’s first location in Northwest Louisiana.
About Rouse Properties
Rouse Properties, Inc. (NYSE:RSE) is a publicly traded real estate investment trust headquartered in New York City and was founded on a legacy of innovation and creativity. Among the country’s largest publicly traded regional mall owners, the Company’s geographically diverse portfolio spans the United States from coast to coast. For more information please visit: www.rouseproperties.com.
Source: Rouse Properties, Inc.