MACON, GA | MAR 19, 2008–Shoppers, community leaders and retail industry executives Wednesday gathered on the village green at The Shoppes at River Crossing to celebrate the grand opening of Georgia’s newest shopping and entertainment center, including several stores and restaurants new to the Macon market. A joint venture by General Growth Properties, Inc. (NYSE: GGP) and Jim Wilson and Associates, LLC, The Shoppes at River Crossing has 750,000 square feet of stores and restaurants, anchored by Dillard’s, Belk and Barnes & Noble. The Shoppes are at the intersection of Interstate 75 and Riverside Drive/U.S. 23, northwest of the center of Macon.
Among dignitaries expected for the opening were Macon Mayor Robert Reichert; Bibb County Commissioner Chairman Charles Bishop; Jim Wilson III, chairman of the board and CEO of Jim Wilson and Associates, LLC; Will Wilson, president of Jim Wilson and Associates, LLC; Robert Michaels, president and chief operating officer of General Growth Properties; and Miss Georgia 2008 Leah Massee. “Central Georgia came together today to take a giant step forward in the business of shopping and dining,” said Will Wilson. “Trend-setting stores and fine dining are all here, thanks to the strength of this community and the commitment of business and government leaders to team up for economic opportunity.” Added Michaels, “shoppers today demand one-of-a-kind retail experiences and they won’t be disappointed here. Of the retailers and restaurants we’ve announced to-date 30 percent are new to the Macon market and there are more firsts-to-the-market to come. So, no more driving to Montgomery, Savannah or Atlanta. We brought them to you.”
Firsts-to-the-market include Coach, Coldwater Creek, CJ Banks, DSW, J. Jill, Strasburg Children, Sticky Fingers, ULTA Beauty and Wild Wing Café. Expected to highlight the celebration were the E Team skydivers, jugglers, magicians, face painters, a caricaturist, and clowns. Shopping center owners planned to distribute special eco-friendly shopping bags some of which had surprise gift certificates and prizes. One lucky visitor was to receive at random a bag with a $1,000 shopping spree. The Shoppes at River Crossing Retailers: Aeropostale American Eagle Outfitters Ann Taylor Loft Barnes & Noble Bath & Body Works Belk Bonefish Grill CJ Banks Carlyle & Co. Champs Charlotte Russe Chico’s Christopher & Banks Claire’s Coach Coldwater Creek Dairy Queen Dillard’s DSW Foot Locker Gamestop GNC Gymboree J. Jill Jos. A. Banks Journeys Kay Jewelers Lady Foot Locker Lane Bryant LensCrafters Lids New York & Company Payless ShoeSource Portrait Innovations Smoothie King Strasburg Children Sticky Fingers Sunglass Hut Talbots The Barnes House The Sleep Number Store® ULTA Venetian Nails Victoria’s Secret Wild Wing Café For more information about The Shoppes at River Crossing visit www.theshoppesatrivercrossing.com.
Jim Wilson & Associates, LLC, based in Montgomery, Ala., is a privately owned real estate company specializing in shopping centers, residential real estate investments, offices, condominiums, hotels and mixed-use developments. With over three decades of real estate experience, JWA has developed in excess of 21 million square-feet of shopping center space. The company’s development portfolio includes residential communities and condominium residences, mixed-use developments, Class A office buildings and hotel and country club assets. For more information, visit www.jwamalls.com
General Growth Properties, Inc. is one of the largest U.S.-based publicly traded real estate investment trusts (REIT), based upon market capitalization. Best-known for its ownership or management of more than 200 shopping malls in 45 states, General Growth is also a leading developer of master-planned communities and mixed-use properties. It has ownership interest in master-planned communities in Texas, Maryland and Nevada and in smaller mixed-use projects under development in additional locations. Its shopping center portfolio totals approximately 200 million square feet of retail space accommodating more than 24,000 retail stores nationwide. General Growth’s international portfolio includes ownership and management interest in shopping centers in Brazil and Turkey. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, visitwww.ggp.com.
This press release contains forward-looking statements. Actual results may differ materially from the future operations suggested by these forward-looking statements, for a number of reasons, including, but not limited to, the retail market, tenant occupancy and tenant bankruptcies, the level of our indebtedness and interest rates, market conditions, land sales in the master-planned communities segment, the cost and success of our development and redevelopment projects and our ability to manage our growth. Readers are referred to the documents filed by General Growth Properties, Inc. with the SEC, specifically the most recent report on Form 10-K, which further identify the important risk factors which could cause actual results to differ materially from the forward-looking statements in this release. The company disclaims any obligation to update any forward-looking statements.