New Orleans, LA (July 28, 2022) – National real estate investment firm, RockStep Capital (RockStep) recently acquired The Outlet Collection at Riverwalk® (Riverwalk) from Howard Hughes Corporation. Based in Houston, the team at RockStep has big plans for the mall, including adding major high-end retailers, expanding dining options, and continuing the development of Spanish Plaza. In addition to its financial investment, the new ownershi group has secured local investors who are committed to the revitalization of this iconic riverfront development in New Orleans. “Drawing upon our experience and strategies managing a portfolio of 22 malls and shopping centers, we’re excited to make our mark on New Orleans and breathe new life into the Riverwalk,” says RockStep Capital President Andy Weiner. “We have an incredible team of local partners to help us make the necessary improvements to ensure the mall remains the premier outlet shopping destination in downtown New Orleans.” With picturesque views and over 75 retailers, including high-end brands such as Coach, Kate Spade, Polo Ralph Lauren, and Nordstrom Rack, the Riverwalk has been a riverfront staple since 1986, spanning from the New Orleans Ernest N. Morial Convention Center to Spanish Plaza. Prior to the pandemic, the Riverwalk was 99% leased and occupied with a waiting list of tenants. Over the past two years, retail space has become available, but the property is on the upswing. RockStep has already secured major retailers and anticipates the property being 100% leased within 24 months. As prime real estate on the Mississippi River, the development of Spanish Plaza is a top priority for RockStep. “With the Four Seasons now open and plans to have an unimpeded walkway connecting Spanish Plaza to the Aquarium now in development, there is a huge opportunity for the space,” adds Weiner. “We envision turning Spanish Plaza into a hub of entertainment and events for all to enjoy.” The Outlet Collection at Riverwalk is currently open and operating as RockStep focuses on immediate upgrades to the mall. MALL HOURS: Monday – Saturday, 10 a.m. – 7 p.m. & Sunday 10 a.m. – 6 p.m. SAFETY INFORMATION: The Outlet Collection at Riverwalk® is committed to the safety of our guests, staff, and retailers and follows all local, state, and federal guidelines related to COVID-19 safety protocol. PARKING INFORMATION: Parking is available on-site in the Hilton “Whale Lot” on Convention Center Boulevard and can be validated at an $8 discount with an Outlet Collection purchase of $20 or more. Shoppers can bring their purchase receipts to one of the parking validation stations located in stores throughout the center marked with a “P” parking symbol display. For leasing inquiries, contact RockStep Capital Executive Vice President of Leasing, Michelle Waak at mwaak@rockstep.com or 713-554-7600. For more information on The Outlet Collection at Riverwalk®, visit www.riverwalkneworleans.com or follow @RiverwalkNOLA (Instagram & Twitter) and @OutletCollectionRiverwalk (Facebook). About RockStep Capital For the past 25 years, RockStep Capital has been a privately held, full-service, vertically integrated real estate investment firm that owns and manages enclosed malls, open-air shopping centers and institutional third-party retail assets in eleven states. Utilizing innovative revitalization strategies coupled with efficient property management operating procedures, RockStep focuses on value retail assets in major metropolitan areas as well as secondary and tertiary markets. RockStep acquires and develops underperforming assets into relevant and vibrant community-centric retail properties, thus creating market-leading returns for our investors. www.rockstep.com About The Outlet Collection at Riverwalk® The Outlet Collection at Riverwalk® is the nation’s first downtown outlet shopping center. Located just steps away from the French Quarter in the heart of New Orleans, it provides a pedestrian-friendly downtown retail environment, ideally situated adjacent to Spanish Plaza. The Outlet Collection at Riverwalk redefines downtown New Orleans, as it anchors what is currently being developed as one of the largest contiguous riverfront parks in the nation, spanning from Spanish Plaza to Crescent Park. Formerly the site of the 1984 World’s Fair, the property was purchased and developed into the Riverwalk Marketplace in 1986. After nearly three decades, an $80 million renovation of Riverwalk Marketplace was announced, transforming the iconic property into The Outlet Collection at Riverwalk, with a grand opening celebration held on Spanish Plaza. The redevelopment included a significant expansion of 50,000 square feet, bringing the total to 250,000 square feet of much-needed retail space in New Orleans. It is currently home to 75+ retailers and restaurants, many of which are first-to-market retailers in New Orleans. The Outlet Collection at Riverwalk is a premier shopping destination offering both locals and visitors an unparalleled experience in retail, atmosphere, and entertainment.
