Conn’s HomePlus to Join Longview Mall Demonstrating Adaptive Reuse Progress
January 19 2021 - 4:02PM
Business Wire
Washington Prime Group Inc. (NYSE: WPG) today announced that
Conn’s HomePlus, specialty retailer of furniture, mattresses, home
appliances and consumer electronics, will join the dynamic tenant
lineup at Longview Mall, in Longview, Texas. As the only hybrid
shopping center in the market, with both enclosed and open air
formats, and situated among Longview’s dynamic retail and
entertainment corridor, Longview Mall is the retail powerhouse in
East Texas.
Conn’s HomePlus is scheduled to open January 22, 2021 and will
be located in the former Sears space at Longview Mall. In addition,
Washington Prime Group is continuing discussions with another
exciting national retailer to be located adjacent to Conn’s
HomePlus.
Lou Conforti, CEO and Director of Washington Prime Group stated:
“Refrigerators, washers and dryers, televisions and home theater
systems, personal computers, gaming consoles, fitness equipment,
mattresses and furniture are just a few of the home related goods
offered by our newest member of the Washington Prime Group family
at Longview Mall. Conn’s HomePlus has just about everything you
need whether you’re looking for a cardiovascular workout or new
kitchen appliances to keep your food fresh.”
“The new Conn’s HomePlus location within Longview Mall is part
of our continuing momentum in the state of Texas,” said Norm
Miller, Conn’s HomePlus Chairman and CEO. “Our loyal customers have
helped us Make It Happen for the last 131 years and we look forward
to serving the Longview community.”
Longview, situated 120 miles east of Dallas in Gregg and
Harrison counties, is a diversified market with a strong economic
base serving a densely populated regional area. Not only is
Longview Mall the only hybrid regional mall for the Longview
market, it enjoys a large trade area that extends far beyond the
limits of its namesake city. Due to its accessibility from I-20,
the market serves as a regional hub for employment and retail in
the East Texas area. Longview is home to LeTourneau University, a
private university with enrollment of nearly 3,000 undergraduate
and graduate students.
About Washington Prime Group
Washington Prime Group: National footprint with local flavor.
With about 100 town centers throughout the US, we’re as American as
apple pie. As a matter of fact, we are also as American as deep
dish pizza in Chicago, Hawaiian poke salad, vegan spring rolls in
Malibu, El Paso Tex-Mex, Maryland crab cakes, kimchi in Orange
County, Memphis barbeque and a Kansas City porterhouse. Our well
regarded infrastructure, from Hawaii to Connecticut, and pretty
much everywhere else in between, allows our tenant and sponsor
partners to benefit from the operating efficacy and economies of
scale at a large national real estate company, alongside local
management who possess comprehensive knowledge of the specific
locale within which they reside. Washington Prime Group® is a
registered trademark of the Company. Learn more at
www.washingtonprime.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
which represent the current expectations and beliefs of management
of Washington Prime Group Inc. (“WPG”) concerning the proposed
transactions, the anticipated consequences and benefits of the
transactions and the targeted close date for the transactions, and
other future events and their potential effects on WPG, including,
but not limited to, statements relating to anticipated financial
and operating results, the Company’s plans, objectives,
expectations and intentions, cost savings and other statements,
including words such as “anticipate,” “believe,” “confident,”
“plan,” “estimate,” “expect,” “intend,” “will,” “should,” “may,”
and other similar expressions. Such statements are based upon the
current beliefs and expectations of WPG’s management, and involve
known and unknown risks, uncertainties, and other factors which may
cause the actual results, performance, or achievements of WPG to be
materially different from future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, without limitation: changes in
asset quality and credit risk; ability to sustain revenue and
earnings growth; changes in political, economic or market
conditions generally and the real estate and capital markets
specifically; the impact of increased competition; the availability
of capital and financing; tenant or joint venture partner(s)
bankruptcies; the failure to increase store occupancy and
same-store operating income; risks associated with the acquisition,
disposition, (re)development, expansion, leasing and management of
properties; changes in market rental rates; trends in the retail
industry; relationships with anchor tenants; risks relating to
joint venture properties; costs of common area maintenance;
competitive market forces; the level and volatility of interest
rates; the rate of revenue increases as compared to expense
increases; the financial stability of tenants within the retail
industry; the restrictions in current financing arrangements or the
failure to comply with such arrangements; the liquidity of real
estate investments; the impact of changes to tax legislation and
WPG’s tax positions; losses associated with closures, failures and
stoppages associated with the spread and proliferation of the
coronavirus (COVID-19) pandemic; to qualify as a real estate
investment trust; the failure to refinance debt at favorable terms
and conditions; loss of key personnel; material changes in the
dividend rates on securities or the ability to pay dividends on
common shares or other securities; possible restrictions on the
ability to operate or dispose of any partially-owned properties;
the failure to achieve earnings/funds from operations targets or
estimates; the failure to achieve projected returns or yields on
(re)development and investment properties (including joint
ventures); expected gains on debt extinguishment; changes in
generally accepted accounting principles or interpretations
thereof; terrorist activities and international hostilities; the
unfavorable resolution of legal or regulatory proceedings; the
impact of future acquisitions and divestitures; assets that may be
subject to impairment charges; significant costs related to
environmental issues; changes in LIBOR reporting practices or the
method in which LIBOR is determined; and other risks and
uncertainties, including those detailed from time to time in WPG’s
statements and periodic reports filed with the Securities and
Exchange Commission, including those described under “Risk
Factors”. The forward-looking statements in this communication are
qualified by these risk factors. Each statement speaks only as of
the date of this press release and WPG undertakes no obligation to
update or revise any forward-looking statements to reflect new
information, subsequent events or circumstances. Actual results may
differ materially from current projections, expectations, and
plans, if any. Investors, potential investors and others should
give careful consideration to these risks and uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20210119005953/en/
Kimberly A. Green, VP, Investor Relations & Corporate
Communications, 614.887.5647 or kim.green@washingtonprime.com
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