Shopping Centers Today International

APR 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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Page 57 of 63

Upon graduating from Ithaca (N.Y.) College in 1992, Glazer formally joined the family firm, Roch- ester, N.Y.–based First Allied Corp. The firm owns a nearly 7 million-square-foot portfolio of community and neighborhood centers nationwide. Glazer spent about two decades there, overseeing acquisitions. In December 2014 he started his own company, Los Angeles–based U.S. Property Trust, which specializes in acquiring class-A unanchored or shadow-anchored centers in in-fill markets. Reflecting on his decision to launch the company, Glazer says the move was tied to succession planning. "You get older and have kids and begin to look at things differently," Glazer mused. "For my siblings and I, it was a matter of figuring out where do we go from here. It's fine when there are six of you [working DwARD GLAzeR AND his siblings often accompanied their father to work when they were growing up. Malcolm Glazer, a real estate investor, had his children attend to such odd jobs as helping collect rents or sweeping the side- walks at a property. "My father would drag us to his office when we were kids," edward recalled. "He'd make sure we were always involved in doing something. By doing that, you start from the ground up and learn dif- ferent aspects of the business." together], but what happens when the next generation comes along and there are now 14 of you? we decided to keep what we have but also to do our own thing for the sake of the next generation." Malcolm Glazer, now deceased, also owned professional sports teams, having purchased the NFL's Tampa Bay Buccaneers in 1995 and British soccer club Manchester United in 2005. edward Glazer is co-chair- man of the Buccaneers and serves as a direc- tor of the family-controlled, publicly traded company that owns the soccer club. Mean- while, at the firm he launched, he continues to do essentially what he has done for years: invest in high-quality shopping centers in strong markets — but with a different slant. E In his father's footsteps Edward GlazEr sharEs his latE dad's passion for rEtail and sports By Anna Robaton n E w s m a k E r s 58 s C T / a p r i l 2 0 1 6

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