Retail
Forest City owns, develops and manages regional malls, urban retail and mixed-use centers, and "power centers" focused on "big-box" retail stores. As of Jan. 31, 2008, the Commercial Group's growing shopping center portfolio consisted of:

• 19 regional malls with a gross leasable area (GLA) of 9.1 million square feet; and
• 32 specialty retail centers with a total GLA of 7.2 million square feet.

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The Company's regional malls are well-positioned in economically vibrant and growing markets. The properties include traditional enclosed malls and those that re-create the "town center" experience by providing an inviting shopping environment both indoors and outdoors.

Forest City is also a pioneer in bringing "big-box" retailing to urban locations, primarily in the New York metropolitan area, previously ignored by major retailers. With high population densities and disposable income levels at or near those of the suburbs, urban development is re-emerging as an advantage for retailers and an opportunity for cities to create jobs and build economic momentum.