"The changing demands of American shoppers have placed new pressure on the traditional enclosed regional malls," says Daniel J. Hughes, president of Metro Commercial. "This joint venture will provide the expertise required to reposition, redevelop and remerchandise these properties and capitalize on these emerging trends caused by lifestyle and big-box retailing."
What Metro Commercial brings to the table is institutional property management expertise and big-box leasing relationships. The company has the leasing exclusive for almost 160 retail properties totaling more than 14 million sf, and its property management subsidiary operates 50 shopping centers totaling 5.8 million sf.
The Daniel Group's strong suit is leasing traditional in-line mall space. The company, headed by Rene F. Daniel, does have repositioning projects underway in Pennsylvania and Maryland.
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