"The regional mall business is a mature industry that has undergone significant consolidation in the last few years," says company president John Anderson in a prepared statement. "It is important to remain competitive and provide the best shopping environment for our customers. We are exploring our strategic options and how we can best take advantage of and maintain Wilmorite's strong presence in our markets and industry."

Beyond that, the company isn't commenting. Industry analyst Mathew Ostrower of Morgan Stanley tells GlobeSt.com he expects all of the major US mall REITS will seriously consider the opportunity. One question they'll all want an answer to: Can Wilmorite assure that its crown jewel--Tyson's Corner Center in McLean, VA--would be part of any deal?

Juneau-based Alaska Permanent Fund is Wilmorite's 50-50 partner in the 2.1-million-sf asset, which is under expansion. Ostrower says Alaska Permanent Fund exercised a contract option and bought out its previous partner in Tyson's Corner rather than see that interest sold to an unknown third party. "There was a whole process where (Alaska Permanent Fund) took back control and then sold to the person they wanted to sell to," says Ostrower.