If you own land and want to build a shopping mall on it, or if you have a store and want to maximize profits with a better location, mall developers are in the business of purchasing and/or developing land and adding stores and restaurants to malls under construction. A mall can range from a 5-store strip mall to a huge shopping kingdom like the Mall of America. Whatever you envision, a shopping center development company can make it happen.
The first shopping malls in America appeared in the early ‘50s, with the Town and Country Center in Cedar Rapids, Iowa and Southdale Mall in Minnesota leading the pack. Today, shopping malls are commonplace, and local developers and huge conglomerates that specialize in shopping mall development are always looking to land and stores to in include in those malls. When looking for retail developers, keep the following points in mind:
1. Some retail development companies specialize in outlet malls.
2. Local shopping center developers may also deal with other property and types of construction.
3. National realtor companies, like Kimco, which double as commercial shopping center developers, are always looking for new properties.
Action Steps
The best contacts and resources to help you get it done
Use national or international mall developers to make the most of your business venture
You see their signs on vacant lots and retail properties all across the country They're the largest shopping center development companies in the states, and they buy and build shopping malls and centers in all kinds of communities, from rural areas to downtown business districts.
I recommend: Check out
Cushman & Wakefield, a global realty group that counsels tenants and landlords on retail center development. They have experience with different real estate transactions, from office space to investments, and this expertise can be very helpful if you have a store or property in a major market. Look at the capabilities of
GGP (General Growth Properties), a leader in retail development with hundreds of malls from Pennsylvania to Oregon, for expansion, renovation and retail leasing services. Locate your local
Kimco Developers, Inc. broker for development of open-air retail development of your property.
Choose retail developers that focus on outlet malls
Outlet malls are becoming more popular every year. Some of them contain dozens of clothing, shoe and housewares stores with overstock and last year's models at bargain prices. Certain retail developers specialize in this increasingly lucrative type of mall.
I recommend: Call the realtors at
Tanger Outlet to look for space for your store or to develop property. Tanger operates some of the largest outlet malls in the states. Familiarize yourself with
Prime Retail, another one of the leading retail developers specializing in outlet malls. They offer a free merchant login on their site for tenants to stay up to date on company news and get advertising and marketing tips.
Consult specialized shopping center developers in your local area
If you don't have the money or time to deal with national realtors, use a shopping mall developer in your own city or region for service geared to your area's history and demographics.
I recommend: Visit
Halpern Enterprises, Inc. if you're in the Atlanta area, for properties with high profile local and national tenants located in well-traveled areas. There's a link on the website that indicates space for lease in each mall. Check out
Lewis Retail Centers if you’re in the market to develop property in California or Nevada. One of the major shopping center developers on the West Coast, their offer a mix of tenants, including Borders, Starbucks, Target and Safeway, along with distinctive stucco buildings.
Tips & Tactics
Helpful advice for making the most of this Guide
- Compare shopping center developers to see which company offers your store or area the best use of property and selection of tenants. In some areas, a mixed-use property caters to clients' needs; in others, a retail store only mall works best.
The official source of Retail and Shopping Center Developers is
the Retail and Shopping Center Developers page at Business.com
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