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.