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ATLANTA-Perimeter Mall, a 33-year-old, 1.5-million sf regional shopping center in north Fulton County, is one of 37 national centers that will fall under new ownership when the $12.6-billion acquisition of Columbia, MD-based Rouse Co. by Chicago-based General Growth Properties is completed by year end, as GlobeSt.com previously reported.

Rouse opened Perimeter Mall in 1971 and quickly steered it to top local prominence behind the almost 1.6-million-sf Lenox Square shopping center, also in Fulton County, area brokers tell GlobeSt.com. Perimeter Mall attracted the first Seattle-based Nordstrom department store to the metro area in 1998.

In 2000, Rouse added a $20-million courtyard with 78,000 sf of new restaurants and shops. A major disappointment for Rouse, however, followed in 2001, when JCPenney closed its 100,000-sf store. Later, Rich’s and Macy’s combined also vacated a total 90,000 sf.

But in 2003, Bloomingdale’s of New York opened in the Macy’s space and Dillard’s of Little Rock, AR contracted for the former JCPenney site. Dillard’s demolished the building and is completing a 120,000-sf store expected to open in spring 2005, area retail brokers familiar with Perimeter Mall’s leasing picture tell GlobeSt.com.

Besides Perimeter Mall, General Growth owns the 1.2-million-sf Cumberland Mall in Cobb County; the one-million-sf Southlake Mall in Clayton County; and the 1.5-million-sf North Point Mall, also in Fulton County.

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