Recent from talks
Mills Corporation
Knowledge base stats:
Talk channels stats:
Members stats:
Mills Corporation
The Mills Corporation (stylized as THE MILLS) was a publicly-traded real estate investment trust headquartered in Chevy Chase, Maryland, that developed and operated super-regional shopping malls. Mills-developed malls were typically built as large, single-floor facilities with a mixture of off-price retail and entertainment offerings. The company also had a sizeable portfolio of acquired properties, which tended to be smaller in scale.
The Mills Corporation was formed in 1991 (went public in 1994) as a spinoff of founder Herbert S. Miller's Western Development Corporation, which continued operating privately, primarily in Washington, D.C., with the development of Georgetown Park in September 1981 and Gallery Place in 2004 with Akridge.
On April 3, 2007, following financial difficulties, the company was acquired by an investment group composed of Simon Property Group and Farallon Capital Management. At the time of the acquisition, the company operated 36 malls across the United States, 15 of which it had developed. Following the acquisition, The Mills was reorganized into a Simon subsidiary which manages the company's portfolio of indoor outlet malls.
The company started in 1967 as the Western Development Corporation, founded by Herbert S. Miller and Richard L. Kramer. In the late '60s to the early '70s, Western developed the Mazza Gallerie in a joint venture with Mrs. Olga Mazza, the real estate subsidiary of ExxonMobil, and anchor store brand Neiman Marcus. They also developed strip malls and office buildings in collaboration with the Bloomfield Hills, Michigan-based Taubman Company. In 1975, Western partnered with the Donohoe Construction Company for the development of what would be planned as a mixed-use shopping park in Downtown Washington, D.C.. They developed Georgetown Park, which opened on September 27, 1981 and combined retail with residential and office elements.
Western's first mall to use the Landmark Mills template was Potomac Mills in the Washington, D.C. metropolitan area, which opened its first phase on September 19, 1985. Rather than relying on department stores, the Mills concept would combine off-price stores with factory outlets. Later, in 1986, Western acquired a former Treasury department store in Rolling Meadows, Illinois, which permanently closed in 1981. The company redeveloped the vacant space into Algonquin Mills. In December 1988, Western sold the mall to Aetna Life Insurance Company and The Tucker Companies, and it was renamed Meadows Town Mall.
The company developed Franklin Mills in Philadelphia, Pennsylvania, which had its grand opening celebration on May 11, 1989, advertised as The Mall To End Them All. Western named and themed the mall after Benjamin Franklin, making it the company's second Landmark Mills mall development. Then, Sawgrass Mills in Sunrise, Florida, a suburb of Fort Lauderdale, and Gurnee Mills in Gurnee, Illinois, a suburb of Chicago, opened in October 1990 and August 1991, respectively. Sawgrass Mills was a flagship property for Western Development Corporation, and their third Landmark Mills mall development, designed to be themed after and resemble an alligator. Gurnee Mills would follow as the fourth Landmark Mills mall and the final Mills-branded mall developed under Western.
In 1994, Western Development Corporation spun-off its four Mills-branded malls into a public, real estate investment trust development firm, known as The Mills Corporation, which was already formed in 1991 as a private subsidiary. The new firm was named after Herb Miller and the Landmark Mills malls. In November 1996, under new CEO Lawrence C. Siegel, The Mills developed Ontario Mills near Los Angeles, which was the company's first mall designed abstractly and with a full oval "racetrack"-like design which followed into the rest of the company's built malls, including Grapevine Mills in the Dallas-Fort Worth metroplex, which opened to the public on October 30, 1997, right when Halloween was about to start. In collaboration with Taubman Centers, Arizona Mills in suburban Phoenix opened in November of that year.
Originally planned as City Mills, the company debuted The Block at Orange in late November 1998, as their first outdoor mall to not use the "Mills" name. Sawgrass Mills was expanded with the addition of The Oasis at Sawgrass Mills, which opened on April 15, 1999, featuring restaurants and entertainment. In September 1999, The Mills Corporation opened its first mall to use sponsorships, being NASCAR for Concord Mills in North Carolina, designed by the St. Louis-based Kiku Obata & Company. This was followed by Katy Mills in October of that year in suburban Houston, making it their first time to develop another Mills mall in the same state (Texas), as the previous one, Grapevine Mills, was also in Texas.
Hub AI
Mills Corporation AI simulator
(@Mills Corporation_simulator)
Mills Corporation
The Mills Corporation (stylized as THE MILLS) was a publicly-traded real estate investment trust headquartered in Chevy Chase, Maryland, that developed and operated super-regional shopping malls. Mills-developed malls were typically built as large, single-floor facilities with a mixture of off-price retail and entertainment offerings. The company also had a sizeable portfolio of acquired properties, which tended to be smaller in scale.
The Mills Corporation was formed in 1991 (went public in 1994) as a spinoff of founder Herbert S. Miller's Western Development Corporation, which continued operating privately, primarily in Washington, D.C., with the development of Georgetown Park in September 1981 and Gallery Place in 2004 with Akridge.
On April 3, 2007, following financial difficulties, the company was acquired by an investment group composed of Simon Property Group and Farallon Capital Management. At the time of the acquisition, the company operated 36 malls across the United States, 15 of which it had developed. Following the acquisition, The Mills was reorganized into a Simon subsidiary which manages the company's portfolio of indoor outlet malls.
The company started in 1967 as the Western Development Corporation, founded by Herbert S. Miller and Richard L. Kramer. In the late '60s to the early '70s, Western developed the Mazza Gallerie in a joint venture with Mrs. Olga Mazza, the real estate subsidiary of ExxonMobil, and anchor store brand Neiman Marcus. They also developed strip malls and office buildings in collaboration with the Bloomfield Hills, Michigan-based Taubman Company. In 1975, Western partnered with the Donohoe Construction Company for the development of what would be planned as a mixed-use shopping park in Downtown Washington, D.C.. They developed Georgetown Park, which opened on September 27, 1981 and combined retail with residential and office elements.
Western's first mall to use the Landmark Mills template was Potomac Mills in the Washington, D.C. metropolitan area, which opened its first phase on September 19, 1985. Rather than relying on department stores, the Mills concept would combine off-price stores with factory outlets. Later, in 1986, Western acquired a former Treasury department store in Rolling Meadows, Illinois, which permanently closed in 1981. The company redeveloped the vacant space into Algonquin Mills. In December 1988, Western sold the mall to Aetna Life Insurance Company and The Tucker Companies, and it was renamed Meadows Town Mall.
The company developed Franklin Mills in Philadelphia, Pennsylvania, which had its grand opening celebration on May 11, 1989, advertised as The Mall To End Them All. Western named and themed the mall after Benjamin Franklin, making it the company's second Landmark Mills mall development. Then, Sawgrass Mills in Sunrise, Florida, a suburb of Fort Lauderdale, and Gurnee Mills in Gurnee, Illinois, a suburb of Chicago, opened in October 1990 and August 1991, respectively. Sawgrass Mills was a flagship property for Western Development Corporation, and their third Landmark Mills mall development, designed to be themed after and resemble an alligator. Gurnee Mills would follow as the fourth Landmark Mills mall and the final Mills-branded mall developed under Western.
In 1994, Western Development Corporation spun-off its four Mills-branded malls into a public, real estate investment trust development firm, known as The Mills Corporation, which was already formed in 1991 as a private subsidiary. The new firm was named after Herb Miller and the Landmark Mills malls. In November 1996, under new CEO Lawrence C. Siegel, The Mills developed Ontario Mills near Los Angeles, which was the company's first mall designed abstractly and with a full oval "racetrack"-like design which followed into the rest of the company's built malls, including Grapevine Mills in the Dallas-Fort Worth metroplex, which opened to the public on October 30, 1997, right when Halloween was about to start. In collaboration with Taubman Centers, Arizona Mills in suburban Phoenix opened in November of that year.
Originally planned as City Mills, the company debuted The Block at Orange in late November 1998, as their first outdoor mall to not use the "Mills" name. Sawgrass Mills was expanded with the addition of The Oasis at Sawgrass Mills, which opened on April 15, 1999, featuring restaurants and entertainment. In September 1999, The Mills Corporation opened its first mall to use sponsorships, being NASCAR for Concord Mills in North Carolina, designed by the St. Louis-based Kiku Obata & Company. This was followed by Katy Mills in October of that year in suburban Houston, making it their first time to develop another Mills mall in the same state (Texas), as the previous one, Grapevine Mills, was also in Texas.
Recent media