General Growth Properties was founded as General Management by brothers Martin and Matthew Bucksbaum in 1954 when they opened their first shopping center, Town & Country Shopping Center, in Cedar Rapids, Iowa.
The company opened its second center, Duck Creek Plaza, in Bettendorf, Iowa in 1960.
In 1970 General Management changed its name to General Growth Properties (GGP). The company went public two years later.
Today GGP is the United States’ #2 mall operator behind Simon Property Group. The company is a Real-Estate Trust (REIT) with a portfolio of 120 regional shopping malls which have about 25 million square feet retail space.
Top mall tenants include L Brands, Abercrombie & Fitch, The Gap, and Foot Locker.
General Growth Properties trades publicly on the New York Stock Exchange under the ticker symbol GGP, is a member of the S&P 500, is #821 in the Fortune 1000, has 1,500 employees, and had $2.68 billion in revenue in 2013.
General Growth Properties
General Growth Properties was founded as General Management by brothers Martin and Matthew Bucksbaum in 1954 when they opened their first shopping center, Town & Country Shopping Center, in Cedar Rapids, Iowa.
The company opened its second center, Duck Creek Plaza, in Bettendorf, Iowa in 1960.
In 1970 General Management changed its name to General Growth Properties (GGP). The company went public two years later.
History
Today GGP is the United States’ #2 mall operator behind Simon Property Group. The company is a Real-Estate Trust (REIT) with a portfolio of 120 regional shopping malls which have about 25 million square feet retail space.
Top mall tenants include L Brands, Abercrombie & Fitch, The Gap, and Foot Locker.
General Growth Properties trades publicly on the New York Stock Exchange under the ticker symbol GGP, is a member of the S&P 500, is #821 in the Fortune 1000, has 1,500 employees, and had $2.68 billion in revenue in 2013.
One thought of re-opening up could be to do reservations to shop through Yelp to maintain physical distancing. VIPs should be the elderly. Scan at the exit of the store for contact free transactions or have customer use your app to check out.
Food courts should expand seating areas throughout the entire mall including anchor retail stores entrances and exits with table and chairs to maintain physical distancing to eat. Food vendors must have online ordering system for pick up.
Think outside the box but maintaining distancing will be key – otherwise, plan to re-open very soon. No reason to stay closed.