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Urban Retail Properties is a third-party retail management company based in Chicago. The company develops shopping complexes and other retail centers across the United States, in addition to help managing retail space development. The company partnered with Long Runn Urban Development Group in Shanghai in 2008. As of 2021 it owns over 50 shopping centers. A news article in 2003 described Urban Retail as "the nation’s largest third-party retail manager".
| 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
In 1984, Aetna sold Urban Investment and Development Corporation of Chicago, to JMB Real Estate Group, for $1.4 billion.
In 1993, JMB spun off its retail properties into Urban Shopping Centers, and was traded on NYSE and CSE under "URB".
In 2000, Urban was purchased by Rodamco North America.
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.
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
Major retail properties owned by Urban Retail include:
Current
- Somersville Towne Center
- Orlando Fashion Square
- Mall at Stonecrest
- Louisiana Boardwalk
- Monroe Crossing
- Arnot Mall
- Colony Square Mall
- College Square Mall
- Foothills Mall
Former
Urban Shopping Centers
- Copley Place (sold in 1997)
Purchased by Westfield
- 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
- 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
- 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
- Inlet Square Mall
- PlazAmericas
- Oakland Mall
- Manhattan Town Center
- Oakland Square
- Oakland Plaza
References
- 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
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