"Improving what we already own produces the greatest return that's available to us," says CEO John Bucksbaum.
While comparable store sales increased just 0.2% in the second quarter over 2000, General Growth Properties managed to post a 9% increase in funds from operations, continuing a string of more than eight years of consecutive quarterly FFO growth.
General Growth Properties is completing a 110,000-sf, $25-million expansion that is adding a second level, and more than 30 storefronts, to the retail center anchored by Boston Store and Marshall Field's. A grand opening the addition is expected later this month.
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