First Industrial Realty Trust: This real estate investment trust bases it business on retail malls and specialty store, the company was founded in Chicago Illinois and is currently one of the largest REITs in the retail mall world, they have been in business over 50 years and know what it takes to survive in the tough REIT market.
Being in business over 50 years gives you a lot of time to acquire properties and developments, General Growth Properties currently owns 200 million square feet of retail space, and 24,000 stores this number includes many top retailers. General Growth Properties has 37 malls in the busiest areas of the USA and over 1.3 billion people visit the malls every year.
General Growth Properties has malls that have entertainment as well they also own, skating rinks, bowling alleys and restaurants. This brings in additional income and creates a higher traffic flow to the mall and the properties.
General Growth Properties is currently listed on the New York Stock Exchange as a registered REIT meaning that it is taxed as a REIT not a regular business. It is traded under the symbol of GGP and is currently trading at $15.15 per common share in the company (Feb 2011)
General Growth Properties was taken off the New York Stock Exchange as of April 17 2009 to deal in private securities; it was placed back on the NYSE on March 4th 2010
General Growth Properties has malls and stores in locations all over the USA they are not only in one section of the nation, they are on the West Coast and the East Coast as well as international properties in Brazil
General Growth Properties helps with the development of businesses as well as small business owners as well as managing the stores, malls and developments this helps the company know what its retailers are looking for and what type of businesses are commonly investing in there retail space.
General Growth Properties is a major employer in the states; the even have their own university to keep the employees informed of new developments and new acquisitions.
General Growth Properties has 18 platinum properties, that are set apart from all other properties, meaning the cater to high end clients such as Tiffany, Hugo Boss, Barneys New York and Louis Vuitton these mall are very different in appearance as well as clientele.
General Growth Properties is the kind of REIT that makes others sit up and take notice, 50 years is a long time to stay in business in the retail world as competition is very stiff and there is very little room for error. This REIT is a good solid investment to add to any shareholders portfolio.
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