The examples and perspective in this article may not include all significant viewpoints .(September 2018) |
Urban Retail Properties is a third-party retail management company based in Chicago. [1] The company develops shopping complexes and other retail centers across the United States, in addition to help managing retail space development. [2] The company partnered with Long Runn Urban Development Group in Shanghai in 2008. [3] As of 2021 it owns over 50 shopping centers. [4] A news article in 2003 described Urban Retail as "the nation’s largest third-party retail manager". [5]
Type | Private Partnership |
---|---|
Industry | Retail Management |
Predecessor | Urban Investment and Development Urban Shopping Centers JMB Realty |
Headquarters | Chicago, Illinois |
Products | Shopping Malls |
Parent | RAIT Financial Trust Forum Partners Investment |
In 1984, Aetna sold Urban Investment and Development Corporation of Chicago, to JMB Real Estate Group, for $1.4 billion. [6]
In 1993, JMB spun off its retail properties into Urban Shopping Centers, and was traded on NYSE and CSE under "URB". [7]
In 2000, Urban was purchased by Rodamco North America. [8]
In 2001, Westfield Trust bought 25% of USC and Rodamco North America. The next year, Rodamco was fully sold to Westfield, Rouse, and Simon Property Group. [9]
In May 2005, Urban was purchased in a management buyout deal, becoming a private entity.
In September 2007, RAIT Urban Holdings, LLC acquired a minority interest in Urban.
In May 2014, RAIT Financial Trust purchases Urban Retail Properties.
In September 2018, Urban becomes a private partnership firm when Forum Partners Investment, LLC purchased half of Urban from RAIT.
Major retail properties owned by Urban Retail include: [10]
The Galleria, stylized theGalleria and also known as the Houston Galleria, is an upscale mixed-use urban development and shopping mall located in the Uptown District of Houston, Texas, United States. The development consists of a retail complex, as well as the Galleria Office Towers complex, two Westin hotels, and a private health club. The office towers and hotels are separately owned and managed from the shopping center. The anchor stores are Neiman Marcus, Nordstrom, Saks Fifth Avenue, and Macy's.
GGP Inc. was an American commercial real estate company and the second-largest shopping mall operator in the United States. It was founded by brothers Martin, Matthew and Maurice Bucksbaum in Cedar Rapids, Iowa in 1954, and was headquartered in Chicago, Illinois from 2000. It was subject to the largest real estate bankruptcy in American history at the time of its filing in 2009.
Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana. Worldwide, it owns interests in 232 properties comprising approximately 241,000,000 square feet (22,400,000 m2) of gross leasable area in North America and Asia. For a list of notable properties owned by the company, see List of Simon Property Group properties.
Forest City Realty Trust, Inc. was a real estate investment trust that invested in office buildings, shopping centers and apartments in Boston, Chicago, Dallas, Denver, Los Angeles, Philadelphia, and the greater metropolitan areas of New York City, San Francisco and Washington, D.C. The company was organized in Maryland with its headquarters in Cleveland, Ohio. As of December 31, 2017, the company owned 29 office buildings, 29 shopping centers, and 78 apartment complexes. On December 7, 2018, the company was acquired by Brookfield Asset Management.
North Star Mall is a shopping mall in San Antonio, Texas, USA with anchor tenants Dillard's, JCPenney, Macy's, Saks Fifth Avenue, and Forever 21. The mall also has over 200 specialty stores, some exclusive to the San Antonio market, including Armani Exchange, The Cheesecake Factory, Build-A-Bear Workshop, MAC Cosmetics, and Oakley. The mall, which opened in 1960, is located at the intersection of Loop 410 and San Pedro Avenue in the city's Uptown District. It is a well-known city landmark for its Texas-sized cowboy boots, created by Texas artist Bob "Daddy-O" Wade, that are located along its Loop 410 frontage.
Taubman Centers, Inc. is an American real estate investment trust headquartered in Bloomfield Hills, Michigan. The company invests in shopping centers, and is a subsidiary of Simon Property Group since 2020.
Westfield Galleria at Roseville is a two-level, 1.3 million-square-foot indoor shopping mall in Roseville, California, United States. Owned by the Westfield Corporation, it is located at the corner of Galleria Boulevard and Roseville Parkway, at the junction of State Route 65 and Interstate 80. Its anchor stores include Macy’s, JCPenney, and Nordstrom. The center features the Sacramento-area locations of retailers Louis Vuitton, Burberry, Tiffany & Co., Kate Spade New York, and Hugo Boss.
MainPlace Mall is a shopping mall at the north edge of Santa Ana, California, adjacent to the City of Orange and the Orange Crush interchange of the Santa Ana, Garden Grove and Orange freeways. The anchor stores are JCPenney, 24 Hour Fitness, Ashley HomeStore, Round 1 Entertainment, DXL Mens Apparel, and Macy's. There is 1 vacant anchor store that was once Nordstrom.
The Promenade is a dead shopping mall in the Woodland Hills neighborhood of Los Angeles, California; it is currently owned by Unibail-Rodamco-Westfield. Since its renaming in 2015, it is one of few Westfield-owned properties without the Westfield name; the company has announced long-term plans to demolish and replace the mall with a $1.5 billion residential development named Promenade 2035. Currently, the mall is anchored by a 16-screen AMC Theatre.
Franklin Park Mall is a shopping mall in Toledo, Ohio. The anchor stores are Dillard's, Macy's, Dick's Sporting Goods, Forever 21, DSW, and JCPenney.
Great Northern Mall, is a single-level enclosed shopping mall in North Olmsted, Ohio, a suburb of Cleveland. Its anchor stores are Dick's Sporting Goods, Dillard's, J. C. Penney, and Macy's.
Sarasota Square Mall, formerly Westfield Shoppingtown Sarasota Square and Westfield Sarasota Square, is a shopping mall in Sarasota, Florida. Its anchors are Costco, JCPenney, and AMC Sarasota 12.
The Shoppes at Carlsbad is a shopping mall in Carlsbad, California. The mall was originally named Plaza Camino Real when it was built in 1969, but was rebranded several times when it was a Westfield Holdings property (1994-2015). Its anchor stores are JCPenney and Macy's. A Robinsons-May closed in 2006, while Sears closed on December 15, 2019.
Tysons Galleria is a three-level super-regional mall owned by Brookfield Properties Retail Group located at 2001 International Drive in Tysons, Virginia. It is the second-largest mall in Tysons, and one of the largest in the Washington metropolitan area.
Unibail-Rodamco-Westfield SE is a French commercial real estate company headquartered in Paris, France. Its history originates with the formation of two separate shopping centre operators, Unibail and Rodamco Europe, which merged in 2007 and became a societas Europaea in 2009. The company acquired Australian shopping centre operator Westfield Corporation in June 2018.
JMB Realty was a real estate investment company based in Chicago. In 1993, after suffering during the early 1990s recession, the company spun off its retail properties as Urban Shopping Centers, Inc., which was acquired by Rodamco in 2000 and broken up. After selling off its remaining assets in the late 2000s, JMB Realty was defunct; although its debt finance group was spun-out as JMB Financial Advisors and still exists as a going concern based in Chicago.
Rouse Properties was a real estate investment trust headquartered in New York City. The company owned 35 shopping malls in 22 states encompassing approximately 24.5 million square feet of retail space.
Westfield Corporation was an Australian commercial real estate company and operator of shopping centres. It was founded with the spin-off of the Westfield Group in 2014, where assets in Australia and New Zealand formed the Scentre Group and assets in the United Kingdom and United States formed the Westfield Corporation. It was listed on the Australian Stock Exchange with the ticker symbol "WFD".
CenterMark, formerly known as May Centers, was a mall development company owned by a consortium of Westfield Holdings Ltd., General Growth Properties, and Whitehall Street Real Estate L.P. III. And it was formerly owned by The May Department Stores Company until 1992, and Prudential Insurance until 1993.