In light of the current poor business climate and for shopping centers in particular, Simon’s 80 percent purchase of Taubman is viewed as a win-win for both sides.
Malls have struggling with dwindling shopper traffic but Simon’s takeover of Taubman will help the combined portfolio.
The $3.6 billion deal is going to mediation while both sides prepare for a potential trial in November.
The combination makes strategic sense to Wall Street, but consumers will have the final vote.
Several real estate investment trusts logged their highest sales per square foot in the recent first quarter.
Brands, from luxury to fast fashion, are still clamoring to elbow into the market, where supply in core areas can be hard to come by.
Traffic has been around since the Seventies, with the company set to open in a larger store designed by Tom Dixon in Los Angeles.
WWD and Unilever Prestige present a pioneering grant initiative designed to showcase the next generation of business…