Greengate Mall going on block
Article Abstract:
Rouse Co. will try to sell its Greengate Mall in Greensburg, PA, in the summer of 1997 as part of a plan to divest itself of poorly performing assets. Greengate, which Rouse had been looking to sell since 1995, has been performing poorly due to overwhelming competition from nearby Westmoreland Mall, which has 1.2 million sq ft of space, overshadowing Greengate's 650,000 sq ft. According to Len Stahlberg, a tenant at Greengate, the mall's problems were aggravated when Lazarus decided to vacate earlier in 1998. The mall's auction will be brokered by Fox & Associates of Virginia Beach, VA.
Comment:
Will try to sell Greengate Mall in Greensburg, PA, in summer 1997 as part of plan to divest itself of poorly performing assets
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Greengate Mall may have buyer
Article Abstract:
Rouse Co.'s 33-year-old Greengate Mall in Westmoreland County, PA, may already have a purchaser. Rouse Vice President Owen Williams stated that several buyers have already submitted their offers during the July 25, 1998 deadline and that one had been chosen. Williams also stated that the bidder must now increase its offer and meet the other conditions of Rouse. Williams refused to state the exact number of bidders for Greengate Mall, but he declared that the chosen buyer reached the minimum price for the department store.
Comment:
Its 33-year-old Greengate Mall in Westmoreland, PA, may be already have a purchaser
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Greengate mall gets a new owner
Article Abstract:
Rouse Co. has sold the 650,000-square-foot Greengate Mall in Hempfield, PA, to investment group Greengate Anchor L.P. The financially-troubled Greengate Mall, which is located along the Route 30 in Pennsylvania, was placed since 1995 on the selling market by Rouse. Greengate Anchor believes that the Greengate Mall presents an excellent opportunity for redevelopment, with the new owner looking to retain the shopping center's retailing operations.
Comment:
Acquires from Rouse the 650,000-sq-ft Greengate Mall in Hempfield, PA
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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