Glenbrook Square Lined-up For New Owner

(Image courtesy of GGP.)

Shareholders of a Fort Wayne mall’s current owners have agreed to be acquired by a global commercial real estate company. Chicago-based GGP Inc. (NYSE: GGP), which owns Glenbrook Square in the Allen County city, is slated to merge into Brookfield Property Partners LP for an estimated $15 billion.

Glenbrook Square, which includes more than 130 retailers in over 1.2 million square-feet of space, is GGP’s only property in Indiana. Its most recent renovation came 20 years ago. If the GGP sale to Brookfield goes through, the deal is expected to close by the end of the month. Brookfield’s asset portfolio currently totals some $69 billion worldwide.