GGP History
This Midwestern City is where GGP was founded in 1954 by the Bucksbaum family.
What is Cedar Rapids
This Honolulu property is the largest open-air shopping center in the world.
What is Ala Moana Center?
This bankrupt department store left behind some of GGP’s most valuable redevelopment opportunities.
What is Sears?
This metric represents total rental income after expenses
What is NOI
Adding residential units to mall property is part of this broader strategy
What is mixed-use redevelopment
The founding family led GGP's early expansion into enclosed malls across the U.S.
Who are the Buckbaum Family
This Northern Virginia GGP asset is known for luxury tenants like Chanel and Gucci.
What is Tysons Galleria?
Converting a single anchor box into multiple tenants is called this
What is re-demising?
Increasing rent through improvements without a signed lease is often called this
What is uplift
This term describes increasing value by adding density to underutilized land
What is densification
In 2009, GGP made headlines by filing for this historic financial event—the largest in real estate history at the time.
What is bankruptcy (Chapter 11)?
This Las Vegas mall is known for its cloud-like canopy and runway fashion shows on the Strip.
What is Fashion Show Mall?
This strategy involves replacing a traditional anchor with a mix of experiential, retail, and F&B
What is anchor repositioning
This leasing clause protects tenants if key anchors leave
What is co-tenancy
This public-private tool can help fund infrastructure around mall redevelopment
What is a New Community Authority (NCA)
This investor, through his firm, played a major role in GGP’s post-bankruptcy recapitalization.
Who is Bill Ackman?
This high-performing open-air center outside Chicago is a flagship Midwest GGP asset.
What is Oakbrook Center?
When an anchor goes dark but still controls rights, this legal constraint becomes a major issue
What is a REA restriction
This pipeline of backup tenants is used to mitigate leasing risk
What is the “on-deck” tenant list
This process is required to change land use or increase density on a site
What is rezoning
In 2018, GGP was acquired by this global mall owner, consolidating major U.S. retail portfolios.
What is Brookfield Properties?
This high-performing Southern California mall, adjacent to the Americana at Brand, has long been one of GGP’s top West Coast assets.
What is Glendale Galleria?
This tactic monetizes excess anchor parking fields for new development
What is outparcel development
This occurs when market rents exceed in-place rents, creating upside at renewal
What is mark-to-market
This underwriting concept captures the incremental value created by converting non-income-producing land like excess into higher-yielding uses such as residential or hotel.
What is the highest and best use value creation