The Company Behind the Albany Mall
Wednesday, February 13th, 2013
Aronov Reality is the largest privately held and full service real estate company in the Southeast. Founded in 1952 by Aaron Aronov, they own thousands of properties, among them our own local Albany Mall. The company was founded after World War II in response to the unprecedented demand for housing. In the beginning, the company focused mainly on apartment and subdivision development. The first shopping center built and owned by Aronov was Normandale Mall, completed in 1954. The shopping center was recognized as an outstanding example of tenant mix and financial viability. Now, Aronov has successfully built and leased over 12,000 multi family units, and successfully marketed 31,000 single-family home sites.
Aaron Aronov, the initiator of Aronov Reality, was a founding member of the International Council of Shopping Centers. Additionally, he was a member on its first Board of Trustees. The Aronov brothers, Jake and Owen, now head the company. It is extremely successful, building and leasing resorts, shopping centers, and commercial properties all over the Southeast.
The retail branch of Aronov Reality is flourishing. They develop a broad variety of center types including neighborhood strip malls, community and discount centers, regional malls, and more. The company offers a special type of leasing known as Specialty (or Temporary) Leasing. It targets new, creative, and original products that will compliment the existing permanent stores in the mall. Aronov Malls provide ‘Retail Merchandising Units’ (RMUs), are in-line store locations available on a first-come, first-serve basis. The Specialty License to occupy these can be written for weekends, one or two week, or multiple month terms. However, the maximum term for a Specialty license is one year. To learn more about Specialty Leasing, visit Aronov.com
In addition to retail, Aronov also builds and leases resorts and vacation homes. They hold the utmost standards of design and construction excellence, along with a high regard for nature. Their three most recent projects are Aqua, in Panama City Beach, FL, SeaChase, in Orange Beach, AL, and Martinique on the Gulf, a resort in Gulf Shores, AL. Aqua Resort is a successful 22-story Gulf Front condominium with affordable rates. SeaChase is one of the most successful resorts on the Gulf of Mexico, with its 132 units and three towers. Finally, Martinique on the Gulf is a Caribbean style resort village that hosts a variety of single-family homes and low-rise condominiums, along with world-class amenities.
Aronov Insurance has grown into a major independent insurance agency since its establishment in the early 1950s. They offer a wide range of business and personal insurance coverage to commercial clients. Aronov Insurance offers property and casualty insurance to clients throughout the Southeast. Additionally, they offer group benefit packages including health, disability, and life insurance to companies that host five to over one thousand employees. Aronov also presents personal insurance products that cover home, rent, auto, and life. If you would like to know more about Aronov Insurance, find the contact information at Aronov.com/insurance
Aronov Reality has gone miles since its humble beginnings in 1952. They now have a flourishing retail branch, a quickly expanding Insurance Company, and several world-class resorts. Aronov Reality, the company behind the Albany Mall, is really a large, complex company that does so much more than lease and build local malls.