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Urban Retail Properties

{{too few opinions|date=September 2018}}

Urban Retail Properties is a third-party retail management company based in Chicago.{{cite web |url=http://www.highbeam.com/doc/1G1-128671726.html |archive-url=https://web.archive.org/web/20140611075140/http://www.highbeam.com/doc/1G1-128671726.html |url-status=dead |archive-date=June 11, 2014 |date=January 31, 2005 |access-date=March 6, 2014 |title=$300 million shopping center planned at Rogers |author=Lara Bruegge |publisher=Arkansas Business}} The company develops shopping complexes and other retail centers across the United States, in addition to help managing retail space development.{{cite web |url=http://www.highbeam.com/doc/1G1-57003448.html |archive-url=https://web.archive.org/web/20140611075135/http://www.highbeam.com/doc/1G1-57003448.html |url-status=dead |archive-date=June 11, 2014 |title=Problems Shadow Chicago-Based Urban Retail Properties Co |author=Dan Fitzpatrick |access-date=March 6, 2014 |publisher=Tribune Business News |date=October 28, 1999}} The company partnered with Long Runn Urban Development Group in Shanghai in 2008.{{cite magazine|author=David Moin|date=March 31, 2008|title=DEVELOPERS FORGE PARTNERSHIP TO LURE MERCHANTS TO CHINA|url=http://www.highbeam.com/doc/1G1-177924839.html|url-status=dead|magazine=Women's Wear Daily|archive-url=https://web.archive.org/web/20140611075133/http://www.highbeam.com/doc/1G1-177924839.html|archive-date=June 11, 2014|access-date=March 6, 2013}} As of 2021 it owns over 50 shopping centers.{{cite web|date=17 May 2017|title=Atlanta Sports City "signs" Emory Healthcare and Urban Retail to join project in Stonecrest|url=http://news.emory.edu/stories/2017/05/atl_sports_city/|website=news.emory.edu}} A news article in 2003 described Urban Retail as "the nation’s largest third-party retail manager".{{cite web|title=Urban Retail Properties Co. Adds 3 More Market-Leading Shopping Centers to Roster of Managed Properties|url=https://www.blackstone.com/media/press-releases/article/urban-retail-properties-co-adds-3-more-market-leading-shopping-centers-to-roster-of-managed-properties|website=www.blackstone.com|date=19 November 2024 }}

{{Infobox company

| name =

| type = Private Partnership

| industry = Retail Management

| predecessor = Urban Investment and Development
Urban Shopping Centers
JMB Realty

| founded =

| hq_location = Chicago, Illinois

| products = Shopping Malls

| parent = RAIT Financial Trust
Forum Partners Investment

}}

History

In 1984, Aetna sold Urban Investment and Development Corporation of Chicago, to JMB Real Estate Group, for $1.4 billion.{{cite news|date=January 3, 1985|title=JMB BUYS URBAN FROM AETNA|work=Chicago Tribune|url=https://www.chicagotribune.com/news/ct-xpm-1985-01-03-8501010384-story.html|url-access=subscription}}

In 1993, JMB spun off its retail properties into Urban Shopping Centers, and was traded on NYSE and CSE under "URB".{{cite news|date=February 14, 2000|title=Urban Retail Properties has debt but still a viable real estate player|work=Pittsburgh Post-Gazette|url=http://old.post-gazette.com/regionstate/20000214ffhistoryside8.asp}}

In 2000, Urban was purchased by Rodamco North America.{{cite news|date=September 26, 2000|title=URBAN SHOPPING CENTERS SOLD FOR $3.4 BILLION CASH|work=Chicago Tribune|url=https://www.chicagotribune.com/news/ct-xpm-2000-09-26-0009260167-story.html|url-access=subscription}}

In 2001, Westfield Trust bought 25% of USC and Rodamco North America. The next year, Rodamco was fully sold to Westfield, Rouse, and Simon Property Group.{{Cite web|date=2002-01-14|title=Simon, Rouse and Westfield to buy Rodamco's North American assets for $5.1 billion|url=https://www.nreionline.com/news/simon-rouse-and-westfield-buy-rodamco-s-north-american-assets-51-billion|access-date=2021-01-09|website=National Real Estate Investor|language=en}}

In May 2005, Urban was purchased in a management buyout deal, becoming a private entity.

In September 2007, RAIT Urban Holdings, LLC acquired a minority interest in Urban.

In May 2014, RAIT Financial Trust purchases Urban Retail Properties.

In September 2018, Urban becomes a private partnership firm when Forum Partners Investment, LLC purchased half of Urban from RAIT.

Properties owned by Urban Retail

Major retail properties owned by Urban Retail include:{{cite web|url=http://urbanretail.com/propertyTypes.aspx?propertyCategoryID=1|title=URBAN RETAIL|website=urbanretail.com}}

= Current =

= Former =

== Urban Shopping Centers ==

  • Copley Place (sold in 1997)

=== Purchased by Westfield ===

=== Purchased by Simon ===

=== Purchased by Rouse ===

== Urban Retail ==

References

{{reflist}}

External links

  • {{Official website|http://urbanretail.com}}

Category:Companies based in Chicago

Category:Commercial real estate companies

Category:Shopping center management firms

Category:Companies with year of establishment missing

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