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]
History
In 1984, Aetna sold Urban Investment and Development Corporation of Chicago, to JMB Realty, 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 Group, The Rouse Company, 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
Major retail properties owned by Urban Retail include:[10]
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 Group
- 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 Property Group
- 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 The Rouse Company
- Collin Creek
- Lakeside Mall
- North Star Mall (Reacquired)
- Oakbrook Center
- Perimeter Mall (Reaquired)
- The Streets at Southpoint (under construction at the time)
- Water Tower Place
- Willowbrook (Reaquired)
Purchased by Westfield Group
- 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 Property Group
- 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 The Rouse Company
- Collin Creek
- Lakeside Mall
- North Star Mall (Reacquired)
- Oakbrook Center
- Perimeter Mall (Reaquired)
- The Streets at Southpoint (under construction at the time)
- Water Tower Place
- Willowbrook (Reaquired)
Urban Retail
- Inlet Square Mall
- PlazAmericas
- Oakland Mall
- Manhattan Town Center
- Oakland Square
- Oakland Plaza
Urban Shopping Centers
- Copley Place (sold in 1997)
Purchased by Westfield Group
- 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 Property Group
- 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 The Rouse Company
- Collin Creek
- Lakeside Mall
- North Star Mall (Reacquired)
- Oakbrook Center
- Perimeter Mall (Reaquired)
- The Streets at Southpoint (under construction at the time)
- Water Tower Place
- Willowbrook (Reaquired)
Purchased by Westfield Group
- 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 Property Group
- 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 The Rouse Company
- Collin Creek
- Lakeside Mall
- North Star Mall (Reacquired)
- Oakbrook Center
- Perimeter Mall (Reaquired)
- The Streets at Southpoint (under construction at the time)
- Water Tower Place
- Willowbrook (Reaquired)
Urban Retail
- Inlet Square Mall
- PlazAmericas
- Oakland Mall
- Manhattan Town Center
- Oakland Square
- Oakland Plaza
External links
References
- Lara Bruegge. $300 million shopping center planned at Rogers Arkansas Business, January 31, 2005, retrieved March 6, 2014^
- Dan Fitzpatrick. Problems Shadow Chicago-Based Urban Retail Properties Co Tribune Business News, October 28, 1999, retrieved March 6, 2014^
- David Moin. DEVELOPERS FORGE PARTNERSHIP TO LURE MERCHANTS TO CHINA Women's Wear Daily, March 31, 2008, 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, 19 November 2024^
- 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, retrieved January 9, 2021^
- 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^