General Growth Properties Announces Corporate Name Change to GGP
January 17 2017 - 3:20PM
Business Wire
New Branding Reflects GGP’s Primary Focus as a
Retail Real Estate Company
Effective Jan. 27, 2017, General Growth Properties, Inc., will
officially change its name to GGP Inc. (GGP).
Founded in 1954, the company was a real estate developer of
grocery anchor strip centers. Acquiring its first shopping center
two years later, GGP would evolve into one of the preeminent
developers of regional shopping centers that would define the
retail landscape in the United States.
“GGP is in the retail real estate business. The United States
has 8 billion square feet of retail real estate, with approximately
1.3 billion square feet considered high quality. We control eight
percent, approximately 100 million square feet, of the best retail
real estate in the country,” explained Sandeep Mathrani, CEO of
GGP. “In addition to traditional retailers, our regional
shopping centers incorporate supermarkets and lifestyle
stores as well as dining and entertainment venues.
Retailers are channel agnostic and seek the best retail real
estate.”
As a leading real estate investment trust (REIT), GGP currently
owns and operates 126 retail properties in 40 states. With a focus
on creating an optimal customer experience, GGP owns and operates
best-in-class retail properties that provide an outstanding
environment for its communities, retailers, employees and
shareholders.
About GGP
GGP is an S&P 500 company focused exclusively on owning,
managing, leasing and redeveloping high-quality retail properties
throughout the United States. GGP is headquartered in Chicago,
Illinois, and publicly traded on the NYSE under the symbol GGP.
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version on businesswire.com: http://www.businesswire.com/news/home/20170117006513/en/
Lindsay Kahn, Public RelationsManager of
GGP312-960-2616lindsay.kahn@ggp.com
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