Commercial real estate development and management firm the Howard Hughes Corp. sold the 264,000-square-foot The Outlet Collection at Riverwalk New Orleans to Houston-based RockStep Capital for $34 million as of mid-June.

Howard Hughes Corp. put $70 million into the redevelopment of the mall in 2014. By the end of the year, it was 99% leased and expecting a net operating income of $7.8 million.

Featuring 75+ shops and restaurants, plus the iconic Spanish Plaza, The Outlet Collection at Riverwalk conveniently combines shopping, dining, events and entertainment. RockStep is bringing its unique approach to revitalizing Spanish Plaza by creating outward-facing restaurant opportunities with patio dining, increasing cultural events and upgrading the iconic fountain. 

RockStep has developed and acquired more than nine million square feet of shopping centers in 11 states over the past 25 years. The company already owns and operates three shopping centers in Louisiana, and The Outlet Collection at Riverwalk New Orleans is RockStep Capital’s first premier mall acquisition in Louisiana. You can read more about the acquisition and about RockStep Capital here.

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