Tanforan Under New Management

The has a new property manager after a national real estate company acquired its lease management contract. 

Forest City Enterprises was awarded the contract in March for an undisclosed amount, along with the contract for the 100-acre Town Square retail center in Las Vegas. The company made the announcement last week.

Tanforan is still owned by Newport Beach, CA-based Beevast, but the new acquisition now means that Tanforan will have its third property management company in that many years. 

For years, General Growth Properties managed the 973,520-square-foot mall, taking care of Tanforan as one of its third-party properties. In 2010, Jones Lang LaSalle took over the management of the mall in a deal that allowed LaSalle, a financial firm specializing in real estate, to pursue other third-party management opportunities. 

Now, Forest City will take over that role, looking to further grow Tanforan as the economy is recovering. 

“By applying Forest City's experience and core strengths to projects like these, we're able to help owners preserve and grow value over the long term,” executive vice president David LaRue said about the acquisition in a statement. 

Nothing else is expected to change at the mall any time soon, said Tanforan marketing director Nicolle Blanco, except for the leasing signs on vacant storefronts.