Mall landlords are snatching up retail property during slump

As struggling retailers close up shop, mall landlords across the U.S. are responding by buying up surplus retail property or the retailers themselves. General Growth Properties, one of the most prolific real estate investment trusts, bought five Macy’s stores for $48 million in October after the retailer said it would close 100 of its 750 […]

GGP, Simon Property win Aeropostale bankruptcy auction

Aéropostale will live on, thanks to Simon Property Group and General Growth Properties. The two real estate investment trusts are part of a joint venture that on Thursday won a bankruptcy auction for the retailer. The new owners, who will pay $243.3 million, agreed to keep the clothing chain alive, but will shrink it from […]

GGP, Thor will sit on Lee’s Art Shop space until Nordstrom buzz lifts rents: Mathrani

General Growth Properties and Thor Equities are waiting for the paint to dry on Nordstrom’s new Midtown department store before redeveloping the longtime home of the iconic Lee’s Art Shop across the street. The real estate investment companies plan to hold off on permanently leasing the 22,000-square-foot property at 218-220 West 57th Street until closer to […]