Urban Retail Properties
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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]
| Company 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 |
History
[edit]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.
Properties owned by Urban Retail
[edit]Major retail properties owned by Urban Retail include:[10]
Current
[edit]- Somersville Towne Center
- Orlando Fashion Square
- Mall at Stonecrest
- Louisiana Boardwalk
- Monroe Crossing
- Arnot Mall
- Colony Square Mall
- College Square Mall
- Foothills Mall
Former
[edit]Urban Shopping Centers
[edit]- Copley Place (sold in 1997)
Purchased by Westfield
[edit]- Brandon Town Center
- Century City Shopping Center
- Citrus Park Town Center
- Countryside Mall
- Fox Valley Center
- Franklin Park Mall
- Galleria at Roseville
- Garden State Plaza
- Great Northern Mall
- Hawthorn Center
- MainPlace
- Old Orchard Center
- San Francisco Shopping Centre
- Valencia Town Center
Purchased by Simon
[edit]- Coral Square Mall
- Florida Mall
- Houston Galleria
- Mall at Chestnut Hill
- Maplewood Mall
- Miami International Mall
- Penn Square Mall
- Pheasant Lane Mall
- SouthPark Mall
- West Town Mall
- Wolfchase Galleria
- Woodland Hills Mall
Purchased by Rouse
[edit]- Collin Creek
- Lakeside Mall
- North Star Mall
- Oakbrook Center
- Perimeter Mall
- The Streets at Southpoint (under construction at the time)
- Water Tower Place
- Willowbrook
Urban Retail
[edit]- Inlet Square Mall
- PlazAmericas
- Oakland Mall
- Manhattan Town Center
- Oakland Square
- Oakland Plaza
References
[edit]- ^ Lara Bruegge (January 31, 2005). "$300 million shopping center planned at Rogers". Arkansas Business. Archived from the original on June 11, 2014. Retrieved March 6, 2014.
- ^ Dan Fitzpatrick (October 28, 1999). "Problems Shadow Chicago-Based Urban Retail Properties Co". Tribune Business News. Archived from the original on June 11, 2014. Retrieved March 6, 2014.
- ^ David Moin (March 31, 2008). "DEVELOPERS FORGE PARTNERSHIP TO LURE MERCHANTS TO CHINA". Women's Wear Daily. Archived from the original on June 11, 2014. Retrieved March 6, 2013.
- ^ "Atlanta Sports City "signs" Emory Healthcare and Urban Retail to join project in Stonecrest". news.emory.edu. 17 May 2017.
- ^ "Urban Retail Properties Co. Adds 3 More Market-Leading Shopping Centers to Roster of Managed Properties". www.blackstone.com.
- ^ "JMB BUYS URBAN FROM AETNA". Chicago Tribune. January 3, 1985.
- ^ "Urban Retail Properties has debt but still a viable real estate player". Pittsburgh Post-Gazette. February 14, 2000.
- ^ "URBAN SHOPPING CENTERS SOLD FOR $3.4 BILLION CASH". Chicago Tribune. September 26, 2000.
- ^ "Simon, Rouse and Westfield to buy Rodamco's North American assets for $5.1 billion". National Real Estate Investor. 2002-01-14. Retrieved 2021-01-09.
- ^ "URBAN RETAIL". urbanretail.com.
External links
[edit]
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