Greengate Mall

Greenburg, PA

  • Purchased 110 acre 800,000 square foot regional mall from the Rouse company (original developer) on multiple ground leases and fee positions

  • Acquired parcels that were not owned at advantageous pricing in order to consolidate the entire site, and also acquired all underlying fee parcels from multiple owners and trusts

  • Operated the property cost effectively and profitably for several years, while developing flexibility to redevelop the entire parcel, including operating one of the vacant anchors as a very successful regional exposition center

  • Negotiated with all long term tenants to go to month to month status

  • Redeveloped and planned the property into a modern format “Big Box” shopping anchored by Walmart

  • Completely abated and then demolished entire mall and prepared the site for big box development

  • Sold the entire property for substantial profit to a Walmart affiliate

  • IRR in excess of 112% during ownership period

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425 East 52nd Street

New York, NY 10022

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