CHICAGO and CHANHASSEN, Minn., April 13, 2017 /PRNewswire/ -- The rapidly
changing consumer landscape and ever-growing healthy living mindset
have converged as S&P 500 retail real estate company, GGP
(NYSE: GGP), and Healthy Way of Life Company, Life Time, have
announced plans to transform the consumer retail experience at four
GGP properties across the country – with more likely to come.
GGP and Life Time are collaborating to reimagine the mall spaces
traditionally occupied by large anchor stores. The collaboration
will bring comprehensive, resort-like healthy living, healthy aging
and healthy entertainment destinations to these properties and
better serve time-starved consumers and their evolving needs and
demands.
"Our retail partners have come to rely on GGP to consistently
support their success – from sustainable development projects to
renovations and expansions that elevate our properties and
successfully increase traffic and sales," said Sandeep Mathrani, GGP Chief Executive Officer.
"We envision a transformative consumer retail experience that is
highlighted by Life Time's unique ability to deliver comprehensive
healthy living communities for all ages. Their distinctive vision
encompasses healthy living, healthy aging, and healthy
entertainment – from the way people shop, live, eat, work,
socialize, exercise, and seek medical care. Ultimately, this
partnership will bring exciting and truly unique diversification to
our retail environments, along with a large, top-tier consumer
demographic."
GGP and Life Time currently are co-creating developments at
these GGP properties:
- Baybrook Mall, Southeast Houston,
TX
- The Shops at Bravern, Bellevue,
WA
- Southwest Plaza, Littleton,
CO
- Quail Springs Mall, Oklahoma City,
OK
Life Time Chairman, CEO and Founder, Bahram Akradi, has envisioned a phased approach
and created detailed plans that directionally transform these
retail shopping centers into 'healthy lifestyle villages,' where
people shop, live, work, entertain, socialize and exercise, visit
their doctor and relax at the spa. "We are focused on developing
all-inclusive, healthy living, healthy aging, healthy nutrition,
and healthy entertainment destinations that encompass the full
spectrum of daily life for thousands of individuals, couples and
families of all ages. We are excited to partner with GGP given
their focus on creating great customer experiences, which is
directly in line with our mission to create innovative, healthy
lifestyle destinations and experiences. Moreover, it has been
fantastic working with Sandeep and his team. He is a courageous
leader with great vision and an amazing ability get things
done."
Additional details regarding each development will be announced
in the coming months.
About GGP Inc. (GGP)
GGP is an S&P 500 company
focused exclusively on owning, managing, leasing and redeveloping
high-quality retail properties throughout the United States. GGP is headquartered in
Chicago, Illinois, and publicly
traded on the NYSE under the symbol GGP. As a leading real estate
investment trust (REIT), GGP currently owns and operates 126 retail
properties in 40 states. With a focus on creating an optimal
customer experience, GGP owns and operates best-in-class retail
properties that provide an outstanding environment for its
communities, retailers, employees and shareholders.
About Life Time® - Healthy Way of
Life
Life Time is a privately held, comprehensive
healthy living, healthy aging and healthy entertainment Lifestyle
Company and brand that offers a personalized and scientific
approach to long-term health and wellness. Through its portfolio of
distinctive resort-like destinations, athletic events and corporate
health services, the Healthy Way of Life Company helps
members achieve their goals everyday with the support of a team of
dedicated professionals and an array of proprietary health
assessments. As of April 13, 2017, the company operates
123 centers in 26 states and 35 major markets under
the LIFE TIME FITNESS® and
LIFE TIME ATHLETIC® brands in the
United States and Canada. Additional information is
available at www.lifetimefitness.com.
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SOURCE Life Time; GGP