GGP Inc.
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| Public | |
| Traded as | : GGP S&P 500 Component |
| Industry | Real estate investment trusts |
| Founded | 1954 |
| Founder | Martin Bucksbaum Matthew Bucksbaum |
| Headquarters | Chicago, Illinois, U.S. |
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Number of locations
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120 U.S. locations |
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Area served
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40 U.S. states |
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Key people
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Bruce Flatt, Chairman Sandeep Mathrani, CEO |
| Revenue | US $3.02 billion |
| US $994 million | |
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Number of employees
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1,600 |
| Website | www |
GGP Inc (previously General Growth Properties, Inc.) is an American real estate investment trust, which owns and manages shopping malls throughout the United States. It is headquartered at 110 North Wacker Drive in Chicago, Illinois, a historic building designed by architectural firm Graham, Anderson, Probst & White.
GGP owns or has interest in 120 regional shopping malls in forty states. GGP has been in the shopping center business for more than 60 years, including such locations as Ala Moana Center (Honolulu), Tysons Galleria (D.C.), Glendale Galleria (Los Angeles) and Water Tower Place (Chicago). The entire GGP portfolio totals roughly 125,000,000 square feet (11,600,000 m2) of retail space and includes more than 24,000 retail stores. These include international retailers and anchors, as well as regional stores covering a range of categories. More than 1.8 billion consumers visit a GGP mall every year. GGP has centers in 37 of the top 50 metro areas in the U.S. More than half of GGP's portfolio is located in these markets including 32 properties in the top 10 U.S. markets.
GGP owns the largest open-air shopping mall in the world, Ala Moana Center in Honolulu, Hawaiʻi. Ala Moana Center is also a flagship of a GGP tourism program called "America's Premier Shopping Places." It lists a number of tourist destinations that include Water Tower Place in Chicago.
The company was founded by two brothers, Martin and Matthew Bucksbaum, in 1954. That year, they opened their first shopping center, Town & Country Shopping Center in Cedar Rapids, Iowa. In 1960, General Management opened its second center, Duck Creek Plaza in Bettendorf, Iowa; this was their first mall to have a department store (Younkers) as an anchor.
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Wikipedia