General Growth Properties Inc. wants to sell 19 shopping malls and use the proceeds to pay debts, the Wall Street Journal reported.

General Growth, which emerged from bankruptcy last November with new management and new investors, owns Jordan Creek Town Center in West Des Moines.

In January, that mall was 98 percent occupied, according to CB Richard Ellis/Hubbell Commercial’s 2011 Real Estate Market Survey compiled by Frandson & Associates LC.

Now, as the economy improves and real estate financing becomes more readily available, the Chicago-based company plans to focus on 150 of its most lucrative shopping centers.

“We actually believe the winds are behind our back,” said General Growth CEO Sandeep Mathrani, referring to the company’s intention to unload unwanted assets. “If the market stays with us, we would like to execute that this year.”

Vacancy rates for malls in the top 80 U.S. markets rose to 9.1 percent in the first quarter, which according to research firm Reis Inc. was the highest rate since it began tracking the data in 2000.

According to Real Capital Analytics, 57 shopping malls changed hands nationwide last year, compared with 20 transactions in 2009.