American Dream Leaves Family Behind Mall Empire Mired in Debt

June 9, 2020 – Media Mention
Bloomberg News

Bloomberg News reported on the Triple Five Group, the Ghermezian family business behind three of the four biggest malls in North America. They attained success by "infusing their properties with heavy doses of entertainment — a nod to the prevailing wisdom that younger people tend to prefer experiences to material goods," but with the pandemic, they face incredible challenges.

Sophisticated developers like Triple Five "were at the cutting edge of an incredible business plan, had all the connections with all the retailers throughout the world to bring in, the relationships with all the people in the entertainment business," said Jonathan Adelsberg, partner and chair of Herrick's Commercial Leasing practice.