Washington Prime Group Announces HomeGoods to Open at Mesa Mall
February 06 2020 - 5:00PM
Business Wire
Washington Prime Group Inc. (NYSE: WPG) today announced that
HomeGoods will join the dynamic tenant lineup at Mesa Mall. As the
only enclosed shopping center in the Grand Junction market, and the
only one between Salt Lake City and Denver, Mesa Mall is western
Colorado’s regional retail powerhouse.
HomeGoods will be located adjacent to JCPenney in the former
Sports Authority space. There will be several additional tenant
openings at Mesa Mall in 2020, including a newly constructed
Dillard’s, which will be the first location within Grand Junction
and will replace the former Sears space.
Contributing to the strong leasing demand, the majority of
commercial development in Grand Junction is happening within a two
mile radius of the center, with Mesa Mall situated in the core of
the fastest growing retail, dining, lifestyle, and financial sector
of the valley. In addition to the aforementioned tenants, Mesa Mall
is home to in-demand anchors Cabela’s and Target. During the past
12 months, several new options have opened for guests at Mesa Mall
including El Asadero, Sola Salon, The Kids Closet, Torrid, and Pump
It Up Jump Zone.
In addition, Washington Prime Group is close to announcing
another exciting national retailer to replace the former
Herberger’s location.
Mesa Mall continues to benefit from an incredibly talented local
management team. Paul Petersen, General Manager, is instrumental in
executing the vision for Mesa Mall, and together with Marketing
Director Tamara Krizman, the team has implemented a robust schedule
of community events. Mesa Mall hosts nearly 100 events throughout
the year which drive guest traffic, encourage extended visits and
strengthen the town center as the gathering place to shop, play,
eat and drink in the area. Learn more at www.shopmesamall.com.
About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized
leader in the ownership, management, acquisition and development of
retail properties. The Company combines a national real estate
portfolio with its expertise across the entire shopping center
sector to increase cash flow through rigorous management of assets
and provide new opportunities to retailers looking for growth
throughout the U.S. 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 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,” “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 mall store occupancy and
same-mall operating income; risks associated with the acquisition,
(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;
failure 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 proceedings; the
impact of future acquisitions and divestitures; assets that may be
subject to impairment charges; significant costs related to
environmental issues; 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 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200206005674/en/
Lisa A. Indest, CAO & EVP, Finance, 614.887.5844 or
lisa.indest@washingtonprime.com Kimberly A. Green, VP, Investor
Relations & Corporate Communications, 614.887.5647 or
kim.green@washingtonprime.com
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