The Deal of the Century.
Poaching the Apple Store from Gateway
This deal gave Taubman the flexibility to poach the Apple store from the Gateway:
- Free rent for 5 years
- Paid up lease at the Gateway through 2015
- Free store improvements
- Deal of the Century
They thought stores would be knocking the doors down to get into City Creek Center. But the phone did not ring. Then to save face and keep up appearances they told Taubman to do whatever it takes to fill up these empty stores. So they walked across the street and paid Apple to relocate their store. This is capitalism Mormon style. We will pay them to relocate to our development. It worked.
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934