PROPERTIES
History & News
Urban Retail Properties roots began when JMB Realty Corporation was formed by Robert Judelson, Judd Malkin and Neil Bluhm in 1968.
JMB was in the business of investing in real estate on behalf of private investors and institutional clients. In 1970, Aetna Life & Casualty acquired Urban Investment and Development Corporation (UDIC). This company developed some of Chicagoland area’s finest shopping centers, including Orland Square, Fox Valley Mall and Old Orchard Center.
Over the next several years, both companies flourish. JMB forms JMB Property Management Corporation to manage all of JMB’s wholly-owned assets and purchases the development group from Federated Department Stores, creating JMB/Federated Realty Associates to develop regional malls anchored by Federated department stores. All the while, UIDC develops and opens Water Tower Place in Chicago and Copley Place in Boston.
JULY 2025
ROSS Dress for Less celebrated the grand opening of its new store on July 19, at the newly redeveloped SouthPlace City Center in Cutler Bay, FL. The store, spanning 28,400 sq ft, marks ROSS’s relocation from its previous mall space to a modern, vibrant setting, becoming one of the premier anchor tenants of this transformative mixed‑use development.
MARCH 2024
Urban Retail Properties, LLC, announces the execution of a 15-year lease agreement with Presidente Supermarkets as the anchor of the first residential tower as Southland Mall evolves into Southplace City Center. The supermarket will play a vital role in shaping the live-work-play development and be an integral part of Southplace City Center.
SEPTEMBER 2018
Urban Retail Properties, LLC partners with Forum Partners Investment, LLC, and becomes a privately held commercial real estate investment and operating company.
MARCH 2014
Urban Retail Properties, LLC becomes a wholly-owned subsidiary of RAIT Financial Trust, continuing its strong presence in the Retail Real Estate Industry
JUNE 2025
Urban Retail Properties, LLC announces the lease renewal of NUC University Florida Technical College at SouthPlace City Center, formerly Southland Mall, in Cutler Bay, FL. The college will consolidate its operations into a new 30,000-square-foot facility, bringing all its programs under one roof to better serve students and the community.
APRIL 2022
Electra America & BH Group Acquire Southland Mall in Miami and award Urban Retail Properties the management and leasing contract to redevelop the center. It will feature more than 4,000 residential units, over 500,000 square feet of retail with an additional 150,000 square feet of prime retail space and outparcels for food and beverage operators.
APRIL 2016
Urban Retail Properties, LLC becomes more diversified by taking over the management of RAIT Financial Trust’s office portfolio comprising of 4.8 million square feet of office and industrial park locations.
FEBRUARY 2010
Urban forms Urban Receivership Services, an affiliated entity to provide receivership services to the lenders and CMBS loan servicer communities.
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FEBRUARY 2025
American Landmark and BH Group break ground on The Current at City Center. This 350-unit apartment community located on the site of Southland Mall marks the beginning of a seven-year, multi-phase, $1.5 billion buildout of the mall into Southplace City Center, a dynamic mixed-use development in southern Miami-Dade County.
NOVEMBER 2019
Garrison Investnment announces Urban Retail Properties as the new Management and Leasing team for Lousiana Boardwalk Outlets in Bossier City, Louisiana.
SEPTEMBER 2014
Urban Retail Properties announces the acquisition of Oakland Square and Oakland Plaza by its parents company RAIT Financial Trust, signaling the beginning of a new chapter for Urban Retail.
MARCH 2008
Urban Retail Properties, LLC continues to achieve its goal to expand services into an ownership role by purchasing Manhattan Town Center in Manhattan, Kansas.
NOVEMBER 2007
Urban acquires Oakland Mall in Troy, Michigan. The purchase of Oakland Mall is Urban’s first acquisition since 2002, when the company was sold.