While shopping at the mall, you could buy stock in it! While visiting my local mall, I came across a large three-dimensional display in the entrance that read, "You can own this mall." I was intrigued and picked up one of the brochures. I found the display and brochures to be General Growth Properties' (GGP) new marketing program to sell its stock. According to John Bucksbaum, CEO for the Chicago-based REIT, "It's caught a lot of people's attention ... the brochures are being snapped up rapidly." But, he was quick to add, "It is a little early to know [if it will] translate into shares sold."
Bucksbaum says GGP is using this plan as a marketing tool to inform potential new investors and to generate interest in the company. "Some people take out ads in newspapers," says Bucksbaum. "We're marketing ourselves at our own properties." Bucksbaum says the company is hoping to capitalize on the increasing interest in the stock market and the individual investor who wants toown shares in real estate. And you could own shares in your local mall.