OAK BROOK, IL-Chicago-based General Growth Properties Inc. is acquiring a Neiman Marcus store in west suburban Oak Brook in a multi-property deal. The deal will also give General Growth $75 million in cash. The mall owner is getting the Neiman Marcus store at Oakbrook Center from California-based Macerich Co.
Neiman Marcus is leasing the 112,000-square-foot store at the center. As part of the deal, General Growth is selling one-third stakes in two shopping centers in the Phoenix area to Macerich.For the full story, go to Crain's Chicago Business.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.