X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Henderson Global Investors and Grosvenor are in talks aiming to bring Simon Property Group of the USA into Tecient, their retail consultancy venture. Tecient was set up to provide products, services and content to buildings, and is managed by Corpnex, the property services company run by ex-Stanhope executive Vincent Wang.

The ability to buy services like facility maintenance, security, advertising and sponsorship in bulk is key to Tecient’s success, and by bringing the Simon portfolio on board the company believes it could aggregate the buying power of as many as 400 malls representing 240 million sf with an annual footfall of 3.4 billion people.

In a statement the partners said: ‘Simon Property Group’s portfolio size and proficient knowledge of the shopping centre and retail industry, along with their affiliated companies, Simon Business Network and Simon Brand Ventures would bring critical mass and a large measure of expertise to Tecient’s retail growth strategy.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.