Spreading Wings

Second-ranked Jones Lang LaSalle Retail has added an open-air division to manage projects such as The Plaza at Rosedale in Roseville, Minn.—and making JLL a manager on the rise.

Editor’s Note:Chain Store Age’s 18th annual survey of Fastest-Growing Managers measured domestic and international third-party management contracts obtained or renewed during the preceding calendar year–2006.

Anyone who believed that the consolidation of shopping center ownership would mean the death knell for third-party managers couldn’t have been more wrong.

Retail real estate continues to be a sought-after investment, drawing capital from across the United States and even overseas. Less-experienced owners are continuing to look to third-party management firms to oversee the day-to-day operations of their projects.

For their part, third-party managers are spreading their wings as well, with major companies now operating projects overseas. The result is a varied landscape for this year’s fastest-growing management firms.

No. 1: CB Richard Ellis

CB Richard Ellis (CBRE), Los Angeles, expanded its reach globally in 2006, buying Dallas-based Trammell Crow as well as Belgian retail real estate specialist Immobilière Développement & Gestion (IDG).

“For a long time, the United States dominated in terms of the properties we control,” said Todd Caruso, senior managing director of CBRE Retail Services, Chicago. “We’re an international company, and the world is shrinking.”

That requires a continuing focus on customer service that evolves with each new country—and each new client. “We share our practices,” Caruso said. “There are still unique aspects as to how we conduct our business in other parts of the world.”

Corporate acquisitions, though, form only part of the CBRE expansion, he said. Mostly, its growth has come from individual contracts.

“That’s catapulted our growth. But we’ve tried to drill deeper with our relationships with developers and pension-fund advisers,” Caruso said.

No. 2: Jones Lang LaSalle Retail

Jones Lang LaSalle Retail ( JLL), Atlanta, has grown by stretching beyond its original business, honing a focus on open-air.

2006 Fastest-Growing Managers Source: Chain Store Age research and company reports All totals reflect new and renewed contracts combined)
CB Richard EllisLos Angeles, Calif.2,152,832 sq. ft.
Jones Lang LaSalle RetailAtlanta, Ga.0,038,900 sq. ft.
General Growth PropertiesChicago, Ill.9,429,812 sq. ft.
Fameco Management ServicesConshohocken, Pa.6,309,412 sq. ft.
Stirling Properties, Inc.Covington, La.8,286,420 sq. ft.
The Macerich Co.Santa Monica, Calif.134,351 sq. ft.

CB Richard Ellis
Retail Management Contracts Awarded and Renewed for 2006

Total for 2006:*Renewed contracts for 2006 Source: Chain Store Age research and company reportsProperties alphabetized by state.
Fletcher HeightsPeoria, Ariz.150,000 sq. ft.
Festival Market PlacePhoenix, Ariz.130,877 sq. ft.
McDowell Mountain MarketplaceScottsdale, Ariz.84,086 sq. ft.
Scottsdale Technology CenterScottsdale, Ariz.152,409 sq. ft.
Midvale PlazaTucson, Ariz.88,071 sq. ft.
SierraBaldwin Park, Calif.100,253 sq. ft.
Wilshire Rodeo PlazaBeverly Hills, Calif.262,000 sq. ft.
Burbank Entertainment VillageBurbank, Calif.122,902 sq. ft.
Courtyard at the CommonsCalabasas, Calif.90,000 sq. ft.
LincolnCerritos, Calif.86,870 sq. ft.
Jackson Square Shopping CenterCoachella, Calif.92,572 sq. ft.
Encino CourtyardEncino, Calif.99,305 sq. ft.
Pacific CityHuntington Beach, Calif.120,000 sq. ft.
La Habra MarketplaceLa Habra, Calif.373,359 sq. ft.
La Jolla Village SquareLa Jolla, Calif.414,278 sq. ft.
Lake Forest MarketplaceLake Forest, Calif.110,255 sq. ft.
Lakewood SquareLakewood, Calif.187,604 sq. ft.
Antelope Valley PlazaLancaster, Calif.100,000 sq. ft.
Bixby Land PortfolioLong Beach, Calif.77,546 sq. ft.
Von Shopping CenterLong Beach, Calif.149,183 sq. ft.
Bixby Land PortfolioLos Alamitos, Calif.97,785 sq. ft.
Westwood MarketplaceLos Angeles, Calif.202,201 sq. ft.
Creekside Plaza Shopping CenterPoway, Calif.127,285 sq. ft.
Shasta CrossroadsRedding, Calif.86,345 sq. ft.
Rio Linda PlazaRio Linda, Calif.77,080 sq. ft.
Canyon CrossingsRiverside, Calif.778,000 sq. ft.
The Beacon RetailSan Francisco, Calif.84,619 sq. ft.
Westgate West Shopping CenterSan Jose, Calif.350,000 sq. ft.
Bristol Center*Santa Ana, Calif.165,537 sq. ft.
Meadows VillageTemecula, Calif.80,613 sq. ft.
Village Del AmoTorrance, Calif.179,521 sq. ft.
Montalvo Shopping CenterVentura, Calif.218,963 sq. ft.
Lake Arbor PlazaArvada, Colo.96,224 sq. ft.
Highpoint I & II MarketplaceAurora, Colo.99,433 sq. ft.
Castle Pines MarketplaceCastle Rock, Colo.93,416 sq. ft.
Safeway Marketplace EastColorado Springs, Colo.85,794 sq. ft.
Arapahoe Ridge Retail CenterErie, Colo.76,884 sq. ft.
Lakewood City CommonsLakewood, Colo.281,981 sq. ft.
Harvest JunctionLongmont, Colo.600,000 sq. ft.
Westminster PromenadeWestminster, Colo.222,737 sq. ft.
Ranch Lake PlazaBradenton, Fla.78,730 sq. ft.
Avenues North CenterJacksonville, Fla.98,749 sq. ft.
Weston CommonsWeston, Fla.126,922 sq. ft.
Keauhou Shopping Center*Kona, Hawaii170,000 sq. ft.
The Shops at Mauna LaniKapaa, Hawaii82,000 sq. ft.
Kauai Village Shopping Center*Kauai, Hawaii113,597 sq. ft.
Kukui Grove Center*Kauai, Hawaii313,407 sq. ft.
Kukui Marketplace*Kaui, Hawaii142,152 sq. ft.
Kihei Town CenterMaui, Hawaii107,362 sq. ft.
Lahaina Cannery MallMaui, Hawaii130,399 sq. ft.
The Shops at WaileaMaui, Hawaii162,000 sq. ft.
Stadium Marketplace*Oahu, Hawaii212,761 sq. ft.
Lawndale PlazaChicago, Ill.104,241 sq. ft.
The Pointe at Clark*Chicago, Ill.95,455 sq. ft.
The Glen Town CenterGlenview, Ill.473,562 sq. ft.
Washington Square/Little Clinton CornerFort Wayne, Ind.87,225 sq. ft.
Linway PlazaGoshen, Ind.99,100 sq. ft.
Fountain ParkSchererville, Ill.94,185 sq. ft.
Hawthorne PlazaOverland Park, Kan.114,986 sq. ft.
Northridge Shopping CenterRussell Springs, Ky.148,718 sq. ft.
Fairlane GreenAllen Park, Mich.400,000 sq. ft.
Cedar Park Shopping Center*Holt, Mich.127,408 sq. ft.
Frandor Plus*Lansing, Mich.120,265 sq. ft.
Jolly Cedar PlazaLansing, Mich.76,558 sq. ft.
Star Southfield CenterSouthfield, Mich.164,725 sq. ft.
Continental Taylor (formerly Media Play)Taylor, Mich.90,000 sq. ft.
Generations Management*Traverse City, Mich.80,000 sq. ft.
Rogers Plaza*Wyoming, Mich.350,000 sq. ft.
Megan CrossingsO’Fallon, Mo.114,267 sq. ft.
Port Elizabeth CenterElizabeth City, N.C.226,687 sq. ft.
Lewisville CommonsLewisville, N.C.75,824 sq. ft.
Matthew Township Shopping CenterMatthews, N.C.128,651 sq. ft.
Circle PlazaEatontown, N.J.75,475 sq. ft.
Ridgecrest RioRancho, N.M.176,000 sq. ft.
Horizon Town CenterHenderson, Nev.282,298 sq. ft.
LaPlaceBeachwood, Ohio96,000 sq. ft.
CreekviewBrecksville, Ohio94,316 sq. ft.
Market Square at MontroseCopley, Ohio564,151 sq. ft.
Columbus Retail/Worthington MallWorthington, Ohio226,409 sq. ft.
Market PlaceEdmond, Okla.96,118 sq. ft.
Willow Plaza Shopping CenterEnid, Okla.108,095 sq. ft.
Mayfair VillageOklahoma City, Okla.178,449 sq. ft.
South Shields PlazaOklahoma City, Okla.200,820 sq. ft.
Valley River CenterEugene, Ore.120,662 sq. ft.
Peters Town CenterMcMurray, Pa.90,639 sq. ft.
1330 Chestnut CenterPhiladelphia, Pa.85,000 sq. ft.
St. Mary’s PlazaSt. Mary’s, Pa.107,875 sq. ft.
Wexford PlazaWexford, Pa.134,161 sq. ft.
Bemis SquareMemphis, Tenn.130,310 sq. ft.
South Frisco VillageFrisco, Texas227,175 sq. ft.
6801 N.E. Loop 820North Richland Hills,Texas87,644 sq. ft.
Redwood PlazaSalt Lake City, Utah103,271 sq. ft.
Jefferson PlazaNewport News, Va.150,000 sq. ft.
Harbour View West StationSuffolk, Va.82,916 sq. ft.
Georgetown CenterSeattle, Wash.131,000 sq. ft.
Vancouver Market CenterVancouver, Wash.118,466 sq. ft.
Office Depot and PetcoBrookfield, Wis.86,274 sq. ft.
Plaza 173Brookfield, Wis.97,000 sq. ft.
Georgetown SquareFort Wayne, Wis.216,024 sq. ft.
Riverpoint VillageFox Point, Wis.285,909 sq. ft.
801 West LaytonMilwaukee, Wis.107,580 sq. ft.
Miracle Mile Shopping CenterMilwaukee, Wis.91,075 sq. ft.
The Shops at Grand Avenue*Milwaukee, Wis.450,000 sq. ft.
Timmerman PlazaMilwaukee, Wis.205,685 sq. ft.
New Berlin PlazaNew Berlin, Wis.81,983 sq. ft.
Memorial MallSheboygan, Wis.370,365 sq. ft.
Subtotal for properties more than 75,000 sq. ft. 17,565,069 sq. ft.
Subtotal for properties less than 74,999 sq. ft. (new and renewed contracts) 4,083,274 sq. ft.
U.S. total for 2006 21,648,343 sq. ft.
Canada total for 2006 (new and renewed contracts) 372,483 sq. ft.
Europe total for 2006 2,065,227 sq. ft.
Asia total for 2006 6,055,800 sq. ft.
Australia total for 2006 2,010,979 sq. ft.
32,152,832 sq. ft.

“We define open-air a little differently from others,” said Greg Maloney, president and CEO. At JLL, a project complex enough to have been a regional mall, whether it has a roof or not, is still considered part of the core business, not an open-air center.

Increasingly, though, JLL is being asked to oversee groups of smaller properties that wouldn’t necessarily have a full-time, on-site manager, and has created a division specifically for those projects’ needs.

“We hope this open-air division will grow over the next 12 to 24 months,” Maloney said. Managing and leasing these properties requires a different skill set, and a greater knowledge of regional and local tenants compared with the more nationally oriented malls and lifestyle centers.

Investors in value-add opportunities also turn to Jones Lang LaSalle because of its ability to retool a tenant mix, Maloney added.

No. 3: General Growth Properties

In an era where it’s actually more profitable to develop than to acquire projects, General Growth Properties isn’t buying as many of its third-party centers as it once did. Even so, increasing its relationships with existing clients helped it to rank third this year among growing third-party management firms.

Jones Lang LaSalle Retail
Retail Management Contracts Awarded and Renewed for 2006
Total for 2006:*Renewed contracts for 2006Source: Chain Store Age research and company reports Properties alphabetized by state.
The Willows Shopping Center*City of Concord, Calif.253,000 sq. ft.
Serramonte Center*Daly City, Calif.865,000 sq. ft.
Hoover Marketplace*Fresno, Calif.38,000 sq. ft.
Hanford Mall*Hanford, Calif.325,000 sq. ft.
Garrett RanchHemet, Calif.1,068,000 sq. ft.
The Promenade at Howard Hughes CenterLos Angeles, Calif.250,000 sq. ft.
Village at Orange*Orange, Calif.858,000 sq. ft.
Country Club PlazaSacramento, Calif.650,000 sq. ft.
Shops at 2000 Penn*Washington, D.C.70,000 sq. ft.
Union Station*Washington, D.C.215,000 sq. ft.
Santa Rosa Mall*Mary Esther, Fla.731,000 sq. ft.
Centro YborTampa, Fla.220,000 sq. ft.
171 17th St.Atlanta, Ga.8,500 sq. ft.
Atlantic Station*Atlanta, Ga.811,000 sq. ft.
Shannon MallAtlanta, Ga.735,000 sq. ft.
Savannah Mall*Savannah, Ga.938,000 sq. ft.
Valley West*Des Moines, Iowa858,000 sq. ft.
Crossroads CenterWaterloo, Iowa841,000 sq. ft.
Chicago Union StationChicago, Ill.72,000 sq. ft.
Lincoln Mall*Matteson, Ill.990,000 sq. ft.
Hanover Mall*Hanover, Mass.704,000 sq. ft.
The Mall at Whitney Field*Leominster, Mass.658,000 sq. ft.
Town Mall of Westminster*Westminster, Md.629,000 sq. ft.
Genesee Valley CenterFlint, Mich.1,300,000 sq. ft.
Eastland CenterHarper Woods, Mich.1,319,000 sq. ft.
Westland Center*Westland, Mich.1,036,000 sq. ft.
City Center*Minneapolis, Minn.250,000 sq. ft.
Gaviidae Commons*Minneapolis, Minn.292,000 sq. ft.
Rosedale Center*Roseville, Minn.1,137,000 sq. ft.
Jamestown MallFlorissant, Mo.1,004,000 sq. ft.
St. Louis Union Station*St. Louis, Mo.174,000 sq. ft.
Biltmore SquareAsheville, N.C.494,000 sq. ft.
Fox Run Mall*Newington, N.H.601,000 sq. ft.
The Crossings at Fox RunNewington, N.H.451,000 sq. ft.
Amli on the PlazaMorristown, N.J.6,600 sq. ft.
Fingerlakes MallAuburn, N.Y.406,000 sq. ft.
Arnot MallHorseheads, N.Y.940,000 sq. ft.
The Shops at ChambersHorseheads, N.Y.50,000 sq. ft.
Uniondale CenterUniondale, N.Y.60,800 sq. ft.
Inlet SquareMurrells Inlet, S.C.433,000 sq. ft.
Rock Hill GalleriaRock Hill, S.C.680,000 sq. ft.
Hickory Ridge Mall*Memphis, Tenn.855,000 sq. ft.
Mall de las Aguilas*Eagle Pass, Texas438,000 sq. ft.
Bassett PlaceEl Paso, Texas687,000 sq. ft.
Sunset Mall*San Angelo, Texas560,000 sq. ft.
South Park Mall*San Antonio, Texas790,000 sq. ft.
Westgate MallWestgate, Texas887,000 sq. ft.
Pembroke Mall*Virginia Beach, Va.654,000 sq. ft.
Wenatchee Valley Mall*East Wenatchee, Wash.346,000 sq. ft.
Macau ProjectMacau1,200,000 sq. ft.
Malecon CenterSanto Domingo, Dominican Republic200,000 sq. ft.
30,038,900 sq. ft.

General Growth Properties
Retail Management Contracts Awarded and Renewed for 2006

Total for 2006:*Renewed contracts for 2006Source: Chain Store Age research and company reports Properties alphabetized by state.
Main Street CommonsGilbert, Ariz.400,000 sq. ft.
Burbank Town Center*Burbank, Calif.1,235,478 sq. ft.
SouthBay PavillionCarson, Calif.961,751 sq. ft.
Palladio at BroadstoneFolsom, Calif.630,000 sq. ft.
Redlands Mall*Redlands, Calif.173,997 sq. ft.
The Shops at Tanforan*San Bruno, Calif.872,873 sq. ft.
Festival Bay Mall*Orlando, Fla.863,148 sq. ft.
Windward Mall*Kaneohe, Hawaii505,825 sq. ft.
Queen Ka’ahumanu Center*Kahului, Hawaii540,901 sq. ft.
Kings’ Shops*Waikoloa, Hawaii75,000 sq. ft.
Queens’ MarketPlace*Waikoloa, Hawaii135,000 sq. ft.
Westdale MallCedar Rapids, Iowa653,000 sq. ft.
Ford City Mall*Chicago, Ill.1,387,648 sq. ft.
Golf Mill Shopping Center*Niles, Ill.1,075,590 sq. ft.
Alexandria Mall*Alexandria, La.898,232 sq. ft.
Laurel MallLaurel, Md.663,252 sq. ft.
Swansea Mall*Swansea, Mass.702,577 sq. ft.
Adrian Mall*Adrian, Mich.389,322 sq. ft.
Centerpointe MallGrand Rapids, Mich.767,425 sq. ft.
Northwest PlazaSt. Ann, Mo.1,672,338 sq. ft.
Metrocenter Mall*Jackson, Miss.1,152,890 sq. ft.
St. Lawrence Centre*Massena, N.Y.513,520 sq. ft.
Lebanon Valley Mall*Lebanon, Pa.410,227 sq. ft.
Mall at Steamtown*Scranton, Pa.565,000 sq. ft.
Garden City Center*Cranston, R.I.474,068 sq. ft.
Stones River Mall*Murfreesboro, Tenn.412,320 sq. ft.
Galleria Dallas*Dallas, Texas1,298,430 sq. ft.
19,429,812 sq. ft.

“One of our existing clients awarded us two more contracts,” said Kate Sheehy, senior VP of partner relations and client services. “It’s a wonderful way to grow.”

The company combined full contracts to manage and lease South Bay Pavilion in Carson, Calif., and Northwest Plaza in St. Ann., Mo., with leasing-only assignments for ground-up developments, including mixed-use projects. The company recently was awarded the contract to manage and lease Georgetown Park, an urban project in Washington, D.C.

“While our core business remains regional malls, we can bring retail management and leasing expertise to another venue,” Sheehy said. “We can craft a solution.”

No. 4: Fameco Management Services

Fameco, Plymouth Meeting, Pa., is a relative newcomer to third-party management. But it’s moving up fast, and the reason is simple, said Lawrence R. Zipf, senior VP, owner services: “It’s just an uncompromising focus on service. Though forms, policies and procedures are important, we are hands-on managers. That allows confidence to be built that our information will be timely, accurate and complete,” he said.

Fameco Management Services
Retail Management Contracts Awarded and Renewed for 2006
Plus: 28 Stop and Shop locations in N.J. and N.Y.11 Cost Cutter sublease locations in N.J.Total for 2006:*Renewed contracts for 2006 Source: Chain Store Age research and company reportsProperties alphabetized by state.
Chino Towne CenterChino, Calif.116,673 sq. ft.
Plaza at Point HappyLa Quinta, Calif.38,567 sq. ft.
Bay Court Plaza*Dover, Del.185,000 sq. ft.
Brandywine Town Center*Wilmington, Del.922,414 sq. ft.
Prices Corner*Wilmington, Del.500,000 sq. ft.
Northbay Commerce CenterTampa, Fla.97,613 sq. ft.
Hagerstown Commons*Hagerstown, Md.71,877 sq. ft.
Acme Commons at BordentownBordentown, N.J.85,000 sq. ft.
Pine Hill Shopping CenterCamden, N.J.217,800 sq. ft.
Market Place at Garden State*Cherry Hill, N.J.500,000 sq. ft.
Allwood Plaza*Clifton, N.J.88,000 sq. ft.
Delran-Land Adjacent to The Home DepotDelran, N.J.65,000 sq. ft.
Route 130 & Fairview*Delran, N.J.200,000 sq. ft.
East Windsor Town CenterEast Windsor, N.J.250,000 sq. ft.
Wal-Mart Anchored Center*Egg Harbor, N.J.140,000 sq. ft.
ITC Crossing SouthFlanders, N.J.508,066 sq. ft.
Franklin Town CenterFranklin, N.J.138,346 sq. ft.
Jersey FreezeFreehold, N.J.9,000 sq. ft.
Silver Lake Shoppes*Gibbsboro, N.J.5,400 sq. ft.
Willow Ridge Shopping Center*Marlton, N.J.155,000 sq. ft.
Medford Crossing North/South*Medford, N.J.600,000 sq. ft.
Red Roof Inn pad site*Monmouth, N.J.12,500 sq. ft.
Innkeepers*Montvale, N.J.8,800 sq. ft.
Larchmont CommonsMount Laurel, N.J.110,000 sq. ft.
Former KFC Springfield Ave*Neward, N.J.2,414 sq. ft.
Browntown Shopping CenterOld Bridge Twp., N.J.5,068 sq. ft.
The Shoppes of RivertonRiverton, N.J.27,000 sq. ft.
Gloucester Town Center*Sicklerville, N.J.108,000 sq. ft.
Springfield Plaza*Springfield, N.J.100,000 sq. ft.
The Crossings at TurnersvilleTurnersville, N.J.325,000 sq. ft.
Upper Deerfield Plaza*Upper Deerfield, N.J.113,500 sq. ft.
Echelon Village*Voorhees, N.J.89,021 sq. ft.
Fish Pond RoadWashington Twp., N.J.30,000 sq. ft.
East Islip Shopping Center*East Islip, N.Y.113,375 sq. ft.
Southside Mall*Oneonta, N.Y.230,420 sq. ft.
Nichols Plaza*South Setauket, N.Y.63,930 sq. ft.
Bryant SquareEdmond, Okla.273,969 sq. ft.
Cedar Point Shopping CenterAllentown, Pa.132,375 sq. ft.
Dutton Mill Shopping VillageAston, Pa.4,600 sq. ft.
Audubon Square*Audobon, Pa.179,536 sq. ft.
Eckerd*Berwyn, Pa.12,000 sq. ft.
Eckerd*Bethlehem, Pa.8,270 sq. ft.
Former Long John SilverBloomsburg, Pa.2,313 sq. ft.
Scott Town PlazaBloomsburg, Pa.76,634 sq. ft.
Larkins CornerBoothwyn, Pa.225,000 sq. ft.
Canal’s End Plaza*Bristol, Pa.12,000 sq. ft.
Plymouth Square*Conshohocken, Pa.330,000 sq. ft.
D6 Collegeville PlazaCollegeville, Pa.86,300 sq. ft.
The Walgreens CenterDallas, Pa.23,220 sq. ft.
Ashbridge Square*Downingtown, Pa.376,489 sq. ft.
Barnaby PlazaDowningtown, Pa.15,600 sq. ft.
Doylestown Shopping Center*Doylestown, Pa.210,000 sq. ft.
East Vincent Shopping Center*East Vincent Twp., Pa.200,000 sq. ft.
Forks Towne Center*Easton, Pa.95,556 sq. ft.
Palmer Town Center*Easton, Pa.270,000 sq. ft.
Pep Boys*Exton, Pa.3,000 sq. ft.
Route 30 & Whitford RoadExton, Pa.10,000 sq. ft.
Whiteland Town Center*Exton, Pa.357,039 sq. ft.
Lehigh Hills Shopping Center*Fogelsville, Pa.113,360 sq. ft.
Town Center at Frazier*Frazier, Pa.17,000 sq. ft.
Shelly Square Shopping Center*Harleysville, Pa.80,000 sq. ft.
Manoa Shopping Center*Havertown, Pa.248,534 sq. ft.
Grand Central Plaza*Hazelton, Pa.67,725 sq. ft.
Court Side SquareKing of Prussia, Pa.90,000 sq. ft.
Former Conlin’s Copy CenterKing of Prussia, Pa.2,500 sq. ft.
Ephrata Kmart CenterLancaster, Pa.100,000 sq. ft.
Octagon - Oxford Valley*Langhorn, Pa.460,000 sq. ft.
Five Points PlazaLansdale, Pa.287,588 sq. ft.
Ralph’s Corner*Lansdale, Pa.225,000 sq. ft.
Giant Sub Lease*Levittown, Pa.25,100 sq. ft.
Sankey Tract*Limerick, Pa.250,000 sq. ft.
The Shops at Limerick*Limerick, Pa.60,000 sq. ft.
Eckerd*Macungie, Pa.13,824 sq. ft.
Former Kuhlman StoreManayunk, Pa.2,714 sq. ft.
Village at Newtown South*Newtown, Pa.32,500 sq. ft.
Ellis Preserve*Newtown Square, Pa.350,000 sq. ft.
Starbucks*Media, Pa.2,464 sq. ft.
General Hancock Shopping Center*Montgomeryville, Pa.200,000 sq. ft.
Paoli Village ShoppesPaoli, Pa.26,925 sq. ft.
1500 Spring Garden St.Philadelphia, Pa.30,000 sq. ft.
1912 Chestnut St.Philadelphia, Pa.8500 sq. ft.
817-819 N. 2nd St.Philadelphia, Pa.2,800 sq. ft.
Blue Grass Plaza*Philadelphia, Pa.87,300 sq. ft.
Eckerd*Philadelphia, Pa.9,240 sq. ft.
Essington Avenue RedevelopmentPhiladelphia, Pa.450,000 sq. ft.
Former Frank’s Nursery*Philadelphia, Pa.40,000 sq. ft.
Franklin Mills-Former Phar-Mor*Philadelphia, Pa.76,600 sq. ft.
Grant at OnePhiladelphia, Pa.78,000 sq. ft.
Red Lion Shopping Center*Philadelphia, Pa.217,874 sq. ft.
Tacony Creek Plaza*Philadelphia, Pa.21,966 sq. ft.
Talbot’s BuildingPhiladelphia, Pa.2,650 sq. ft.
Pittston CommonsPittston, Pa.167,000 sq. ft.
421 W. Germantown PikePlymouth Meeting, Pa.10,115 sq. ft.
633 W. Germantown Pike*Plymouth Meeting, Pa.31,000 sq. ft.
Stowe Crossing*Pottstown, Pa.19,800 sq. ft.
1110 S. West End Blvd.Quakertown, Pa.4,000 sq. ft.
Quakertown Shopping CenterQuakertown, Pa.61,839 sq. ft.
Trainers Station*Quakertown, Pa.80,000 sq. ft.
Muhlenberg Shopping Center*Reading, Pa.60,000 sq. ft.
Penn Plaza Shopping CenterReading, Pa.177,000 sq. ft.
500 Baltimore Pike*Springfield, Pa.6,800 sq. ft.
Cutler’s Plaza*Springfield, Pa.30,500 sq. ft.
Cross Roads Mall of the PoconosStroud Township, Pa.250,000 sq. ft.
Warminster Square Shopping CenterWarminster, Pa.102,000 sq. ft.
Bradford Plaza*West Chester, Pa.123,881 sq. ft.
800 Downingtown PikeWest Chester, Pa.4,000 sq. ft.
Turner Square*West Chester, Pa.23,325 sq. ft.
West Goshen Center*West Chester, Pa.295,000 sq. ft.
Eckerd*Wilmington, Pa.7,500 sq. ft.
Anderson StationAnderson, S.C.248,428 sq. ft.
Watauga Town CenterWatauga, Texas134,858 sq. ft.
1,499,960 sq. ft.
155,557 sq. ft.
16,309,412 sq. ft.

Fameco’s staff is on site much more regularly than typical third-party managers, visiting each property at least monthly. The contact creates a relationship “that’s as intimate as if they’re in our backyard.

“That’s the hands-on part of the business,” Zipf added. “We also work with the township, so that if we need a variance, a relationship already exists.”

The management business also is considered a significant added value to its main focus as a brokerage company, he noted, helping Fameco’s clients in leasing space.

No. 5: Stirling Properties

The rebirth of the Gulf South after the devastation of Hurricane Katrina in 2005 has created a growing need for professional management services, as new retail returns to the region. That growth and the company’s local knowledge boosted Covington, La.-based Stirling Properties to the No. 5 slot this year.

Stirling Properties, Inc.
Retail Management Contracts Awarded and Renewed for 2006
Plus: 15 Movie Gallery Subleases in Louisiana and TexasTotal for 2006:Properties alphabetized by state.
MacArthur Village Shopping Center*Alexandria, La.213,888 sq. ft.
Bluebonnet Parc*Baton Rouge, La.7,000 sq. ft.
Brookwood Village Shopping Center*Baton Rouge, La.80,276 sq. ft.
Plank Road Plaza Shopping Center*Baton Rouge, La.61,840 sq. ft.
Stirling Millerville Shopping CenterBaton Rouge, La.173,900 sq. ft.
Woodlawn Park Shopping Center*Baton Rouge, La.97,192 sq. ft.
Former Kmart/Penske Auto Center*Bossier City, La.3,887 sq. ft.
Pierre Bossier Mall*Bossier City, La.59,109 sq. ft.
Stirling Bossier CenterBossier City, La.595,142 sq. ft.
Former Movie GalleryBreaux Bridge, La.1,800 sq. ft.
Central Plaza*Central, La.1,200 sq. ft.
211 North Columbia St.Covington, La.1,200 sq. ft.
Former Movie GalleryCovington, La.3,000 sq. ft.
Stirling Covington Center*Covington, La.503,850 sq. ft.
Movie Gallery - Birdsall PlazaCut Off, La.1,800 sq. ft.
Eunice Marketplace*Eunice, La.24,900 sq. ft.
Westgate Shopping Center*Eunice, La.100,000 sq. ft.
Northeast Plaza Shopping CenterGreenwell Springs, La.12,873 sq. ft.
Hollywood VideoGretna, La.3,400 sq. ft.
Kmart Auto Center space*Gretna, La.5,043 sq. ft.
Hammond Square MallHammond, La.431,001 sq. ft.
Palace Centre East*Hammond, La.7,830 sq. ft.
Palace Centre West*Hammond, La.7,400 sq. ft.
Seville Plaza Shopping Center*Hammond, La.171,000 sq. ft.
Bed Bath & Beyond/Best Buy Center*Houma, La.49,788 sq. ft.
Colonial Acres Shopping Center*Houma, La.70,145 sq. ft.
Hollywood VideoHouma, La.3,400 sq. ft.
Kmart Auto CenterHouma, La.4,712 sq. ft.
Movie Gallery at Lynn Park Shopping CenterHouma, La.2,900 sq. ft.
West Park Plaza*Houma, La.144,261 sq. ft.
West Side PlazaHouma, La.36,300 sq. ft.
Former Mervyn’s*Kenner, La.84,586 sq. ft.
Hollywood Video - Kenner MarketplaceKenner, La.4,600 sq. ft.
Pavilion Shopping Center*Kenner, La.13,000 sq. ft.
PetcoKenner, La.8,000 sq. ft.
610 Guilbeau Shopping CenterLafayette, La.1,580 sq. ft.
Ambassador Caffery Wal-Mart Shadow Center*Lafayette, La.4,147 sq. ft.
Autumnwood Place*Lafayette, La.2,000 sq. ft.
Former Movie GalleryLafayette, La.3,400 sq. ft.
Crossroads South*Lafayette, La.30,000 sq. ft.
Grande Marche Shopping Center*Lafayette, La.179,627 sq. ft.
Stirling Lafayette CenterLafayette, La.468,033 sq. ft.
Super Kmart Redevelopment*Lafayette, La.196,794 sq. ft.
The Market At River Ranch*Lafayette, La.185,000 sq. ft.
The Shops at Martial*Lafayette, La.19,800 sq. ft.
The Shops At The Crescent*Lafayette, La.20,131 sq. ft.
Village at Southpark*Lafayette, La.68,112 sq. ft.
Former Walgreens*Lake Charles, La.12,600 sq. ft.
2040 Hwy. 59Mandeville, La.11,400 sq. ft.
Premier Centre*Mandeville, La.262,591 sq. ft.
The Shoppes at Rouses MarketMandeville, La.17,405 sq. ft.
Lapalco Plaza Shopping Center*Marrero, La.75,000 sq. ft.
4312 Veterans Blvd.*Metairie, La.10,000 sq. ft.
Esplanade Plaza*Metairie, La.1,560 sq. ft.
Former Ding How RestaurantMetairie, La.3,940 sq. ft.
Oakridge Place Shopping Center*Metairie, La.60,671 sq. ft.
Old Metairie Village Shopping Center*Metairie, La.84,623 sq. ft.
Pecanland Commons*Monroe, La.220,328 sq. ft.
Wal-Mart Shadow CenterMonroe, La.10,500 sq. ft.
Former Movie GalleryMoss Bluff3,200 sq. ft.
Bayou Landing on the TecheNew Iberia, La.8,000 sq. ft.
1500 River Oaks Road WestNew Orleans, La.16,700 sq. ft.
170 Broadway*New Orleans, La.34,558 sq. ft.
7800 Washington Ave.*New Orleans, La.12,583 sq. ft.
800 Canal St.*New Orleans, La.22,920 sq. ft.
Earhart Retail SpaceNew Orleans, La.2,500 sq. ft.
Kirschman’s Shopping Center*New Orleans, La.61,505 sq. ft.
Kmart Auto CenterNew Orleans, La.5,108 sq. ft.
Oakdale Marketplace*Oakdale, La.5,200 sq. ft.
Kings Country Village Shopping Center*Pineville, La.171,579 sq. ft.
Gateway Shopping CenterPonchatoula, La.60,000 sq. ft.
Sugarland Shopping CenterRaceland, La.35,000 sq. ft.
Eastgate Shopping Center*Shreveport, La.280,000 sq. ft.
Former Circuit CityShreveport, La.28,793 sq. ft.
Former Just For FeetShreveport, La.22,108 sq. ft.
Hollywood Video SubleaseShreveport, La.3,400 sq. ft.
Old River Marketplace*Shreveport, La.136,761 sq. ft.
2965 Gause Blvd. EastSlidell, La.3,400 sq. ft.
Plaza 190 Shopping Center*Slidell, La.113,262 sq. ft.
Stirling Slidell Centre*Slidell, La.332,631 sq. ft.
The Gap*Slidell, La.12,000 sq. ft.
Movie Gallery-Plaza del RienziThibodaux, La.2,000sq. ft.
Caillavet Street & Hwy. 90Biloxi, Miss.4,110 sq. ft.
Caillavet Street & Hwy. 90Biloxi, Miss.2,733 sq. ft.
Flowood PlazaBrandon, Miss.15,040 sq. ft.
Premier PlazaBrandon, Miss.75,839 sq. ft.
Village Shops at LakeviewD’Iberville, Miss.170,000 sq. ft.
Singing River Mall*Gautier, Miss.564,000 sq. ft.
Campanile Court - Build to Suit*Gulfport, Miss.12,000 sq. ft.
AmSouth Plaza*Jackson, Miss.29,171 sq. ft.
Meadowbrook Shopping Center*Jackson, Miss.94,849 sq. ft.
Metro Crossing Shopping CenterJackson, Miss.13,333 sq. ft.
Westland Plaza Shopping Center*Jackson, Miss.216,076 sq. ft.
Colony Crossing at MadisonMadison, Miss.26,322 sq. ft.
Southwest Mall*McComb, Miss.110,864 sq. ft.
Fuel CenterMeridian, Miss.1,500 sq. ft.
Rex BuildingMeridian, Miss.9,008 sq. ft.
Howard Shopping Center*Ocean Springs, Miss.62,891 sq. ft.
Crossgates Shopping Center*Pearl, Miss.149,572 sq. ft.
Picayune Place*Picayune, Miss.66,127sq. ft.
Stage Center*Picayune, Miss.68,000 sq. ft.
Choctaw Plaza*Waveland, Miss.118,799 sq. ft.
Ardmore Mall Shopping Center*Ardmore, Okla.136,313 sq. ft.
27,200 sq. ft.
8,286,420 sq. ft.

“We have offices all over the Gulf Coast, and we’re diversified,” said Martin A. Mayer, president and CEO. “We are riding on the rebirth and reconstruction, and the infusion of dollars into this region.”

The Interstate 10/Interstate 12 corridor has seen accelerated retail activity, particularly Target-anchored centers as residents return and rebuild, a bit more inland than before.

“After the storm and the disbursement, Target, J.C. Penney and Belk accelerated their pace. Walgreens, too, accelerated openings, and they’re all looking for someone local to the markets,” Mayer explained. “We had a record year, and will have record years in 2007 and 2008.”

No. 6: The Macerich Co.

The Macerich Co. is perhaps the most surprising entry on the list—the company is far better known as an acquirer and redeveloper of existing centers, and for the ground-up development of its own properties through its Westcor subsidiary.

The Macerich Co.
Retail Management Contracts Awarded and Renewed for 2006
Total for 2006:*Renewed contracts for 2006Source: Chain Store Age research and company reports Properties alphabetized by state.
Scottsdale 101 Retail*Phoenix, Ariz.590,451sq. ft.
Northwest Arkansas Mall*Fayetteville, Ark.820,308 sq. ft.
Montebello Town Center*Montebello, Calif.755,818 sq. ft.
The Citadel*Colorado Springs, Colo.1,095,339 sq. ft.
Arden Fair*Sacramento, Calif.1,110,662 sq. ft.
Lincoln Center*Ames, Iowa171,519 sq. ft.
Cedar Rapids*Cedar Rapids, Iowa113,705 sq. ft.
Forest Plaza*Annapolis, Md.149,411 sq. ft.
Cross County Shopping CenterYonkers, N.Y.950,079 sq. ft.
Target Center*Norman, Okla.108,950 sq. ft.
Crossroads Mall*Oklahoma City, Okla.1,268,109 sq. ft.
7,134,351 sq. ft.

And that’s pretty much the way it will stay, according to Charles Waldron, senior VP of property management of Santa Monica, Calif.-based Macerich. “[Third-party management] isn’t necessarily a growing focus,” he said. “We have a lot of joint-venture partnerships, and we’ll get involved in a project through them.”

Cross County Shopping Center in Yonkers, N.Y., which it now manages and leases, came to Macerich in that way, and complements Macerich’s East Coast portfolio.

“It performs very well, and has a lot of potential,” Waldron said.

The company will oversee a massive redevelopment of the center, which opened in 1954. The 1 million-sq.-ft. open-air center will be expanded by nearly 250,000 sq. ft.

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