General Growth Properties, Phillips Edison & Co. and other property managers are adding gyms and fitness centers to malls and shopping centers across the country as the fitness industry expands and the bricks-and-mortar retail industry gives way to e-commerce.
General Growth Properties is seeking San Francisco's approval to shut down the Macy's department store at Stonestown Galleria and replace it with retail, restaurants and a multiplex movie theater. "Stonestown is a great asset in a great location, and we see this as an opportunity to help take it to the next level," says David Cuthill, vice president of development for the REIT.
General Growth Properties is seeking San Francisco's approval to shut down the Macy's department store at Stonestown Galleria and replace it with retail, restaurants and a multiplex movie theater. "Stonestown is a great asset in a great location, and we see this as an opportunity to help take it to the next level," says David Cuthill, vice president of development for the REIT.
Maryland's Mall in Columbia, owned by General Growth Properties, has begun construction to add a dozen new tenants to the property's footprint. New tenants include already-announced Barnes & Noble, Main Event Entertainment and Uncle Julio's Rio Grande Cafe, along with newly announced Bibibop Asian Grill and Soft Surroundings.
Maryland's Mall in Columbia added 13 new stores over the past year, and operator General Growth Properties expects to add several more new stores, restaurants and entertainment venues in the next 18 months, senior general manager Barb Nicklas said. New tenants will include an entertainment center with laser tag and bowling and a Barnes & Noble store with a full-service restaurant.
General Growth Properties is working to bring KidZania, a 60,000-square-foot indoor children's activity center, to the US after seeing its success at a major mall in Dubai. The operator will debut the concept at malls in Dallas and Chicago in the next two years, in a push to give families new reasons to visit suburban shopping centers.
The KidZania children's entertainment business is set to enter the US market at malls owned by General Growth Properties in Chicago, Illinois, and Dallas, Texas, as GGP looks to replace traditional stores with entertainment offerings. The facility at Dallas' Stonebriar Centre will open in 2018, while the location at Oakbrook Center in Chicago will debut in 2019. KidZania is set to open 20 more locations across the US over the next 10 years.
General Growth Properties, which controls 100 million square feet of retail space, will change its name to GGP as of Jan. 27. The company owns 126 properties and is one of the largest A-level shopping center owners in the US.
