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Owned by Brookfield Property Partners and managed by Brookfield Properties, the mall opened at a time when the so-called brick-and-mortar “retail apocalypse” had yet to feel the COVID brunt. According to research firm Reis, shopping center vacancies at the end of 2019 were their highest in 20 years, at 9.7%.
“There’s something way wrong with you if you don’t like bowling," says founder and CEO Dale Schwartz.
Brookfield, which currently owns approximately 34 percent of GGP stock, will pay $9.25 billion for the remaining GGP shares in this newly announced acquisition.
Meanwhile, the company behind Norwalk's forthcoming SoNo Collection has rejected a takeover bid.