Macerich Marks 30 Years as Public Company, Rings Closing Bell at New York Stock Exchange
March 12 2024 - 3:00PM
Macerich (NYSE: MAC), one of the nation’s leading owners, operators
and developers of high-quality retail and mixed-use properties in
top markets, today marked its 30th anniversary as a public company
by ringing the closing bell at the New York Stock Exchange.
Jack Hsieh, who took the reins as Macerich President and CEO on
March 1, 2024, was joined by a number of Macerich senior executives
to ring the bell and celebrate this significant company
milestone.
“I’m so pleased and proud to lead the next chapter in Macerich’s
exciting story as we continue to densify and diversify our Class A
portfolio to add even more value for stakeholders,” said Hsieh.
“Thirty years ago, when Macerich launched as a public company, the
mall business was very different. While we know that physical
retail is here to stay, this is a pivotal time for Macerich as we
continue adding new uses and experiences to ensure that our
well-located properties remain sought-after destinations for
retailers, shoppers and communities for many years to come.”
As the retail landscape continues to evolve, Macerich’s
industry-leading properties are redefining the customer experience
by introducing dynamic additions that extend visitor appeal from
morning to night. Adding a broad range of new uses – from fitness,
grocery, entertainment, food and beverage, and medical to
coworking, residential, hotel, office, and more – Macerich
continues transforming its properties into vibrant, multi-use
Regional Town Centers that mean more things to more people.
Today, as Macerich celebrates its 30th anniversary, its total
market cap exceeds $10.5 billion. For context, Macerich’s total
market cap back in 1994 was a modest $650 million.
Among Macerich’s most iconic, high-performing properties today
are:
- Broadway Plaza (Walnut Creek, CA) – This
all-open-air property in the heart of downtown Walnut Creek in San
Francisco’s affluent East Bay has welcomed shoppers to the region’s
best stores for over 60 years. The upscale center is home to over
80 top retailers and specialty shops, including Nordstrom, Macy's,
Apple, lululemon, Louis Vuitton, and Zara, plus delicious
restaurants, including True Food Kitchen, Boudin, Cholita Linda,
and Original Joe’s, which will open later this year. Broadway Plaza
also features an industrious coworking space and the newly opened
luxury fitness center, Life Time. 2024 the center will welcome
Pinstripes – Bistro, Bowling, Bocce.
- Queens Center (New York City) – The
four-story, nearly 1-million-square-foot, enclosed property located
in one of NYC’s most vibrant neighborhoods features a variety of
top retailers and has consistently been one of the most productive
malls in the country. The property features top brands, including
Abercrombie Kids, Apple, Adidas, Crocs, Dr. Martens, JD Sports,
Intimissimi, Macy's, Pandora, Sephora, Victoria’s Secret, and Zara,
plus popular dining experiences ranging from Chick-fil-A and Shake
Shack to The Cheesecake Factory.
- Santa Monica Place (Santa Monica, CA) –
Located steps away from the Pacific Ocean in downtown Santa Monica,
the unique, tri-level, all-outdoor Santa Monica Place is home to
various unique experiences and top stores, including many luxury
retailers. Popular brands include Nordstrom, Tesla, Nike, Rolex,
Tiffany, Louis Vuitton, and Uniqlo. Visitors enjoy an inspired
collection of restaurants like True Food Kitchen, The Cheesecake
Factory, and LouLou Restaurant Rooftop & Lounge. Great
entertainment includes The Cayton Children’s Museum and The
Gourmandise School of Sweets & Savories. Coming soon: ARTE
MUSEUM, Din Tai Fung and Club Studio, a high-end fitness
facility.
- Scottsdale Fashion Square (Scottsdale, AZ) –
The Southwest’s most distinctive address for luxury shopping,
dining and entertainment features Neiman Marcus, Nordstrom,
Dillard's, Macy's, Apple and select prestigious stores not found
anywhere else in Arizona, including DIOR, Saint Laurent, Gucci,
Bottega Veneta, Prada, and many others. Shoppers can dine at top
area restaurants such as Nobu, Ocean 44, Francine, Moxies, Toca
Madera, and Zinque, as well as stay at the modern 11-story Caesars
Republic Scottsdale – the first non-gaming hotel from the famed
Caesars brand – which just celebrated its grand opening in early
March. The 1.9-million-square-foot Scottsdale Fashion Square –
which also features Industrious and a new Life Time luxury fitness
destination, is currently undergoing a renovation of the south
wing, including a new grand entrance and arrival point with a
dedicated luxury valet, all new fine furnishings and finishes, and
more destination stores and restaurants, including Arizona’s only
Hermes, and Catch and Élephante restaurants. Plans for Class A
office space and luxury residences are currently in the
entitlements phase.
- Tysons Corner Center (Fairfax County, VA) –
Just minutes from downtown Washington, D.C., with direct access to
the Metro’s Silver Line, Tysons Corner Center is Virginia’s premier
shopping, dining, and entertainment destination, plus so much more.
One of the largest and best-performing shopping centers in the
country, Tysons Corner Center offers visitors top retail brands
like Apple, Nordstrom, Bloomingdale’s, Lenkersdorfer, Sephora,
Aritzia, Dyson and Zara and delicious restaurants including Barrel
& Bushel, Eddie V's, The Capital Grille, Earl's and Seasons 52.
Tysons Corner Center is also home to AMC Theatres, Hyatt Regency
Tysons Corner Center, Class A office space at 1861 and Tysons
Tower, and VITA Luxury Apartments. The property recently earned
entitlements to add a range of exciting new mixed uses to its
bustling campus.
- Washington Square (Suburban Portland, OR) –
Washington Square is Oregon’s premier shopping destination,
anchored with the state’s largest Nordstrom, Macy’s, JCPenney, and
DICK’S Sporting Goods, with a diverse selection of over 170 premier
apparel and popular digitally native brands, including Apple,
Arc’teryx, Aritzia, Coach, Lego, Blue Nile, Nespresso, Pandora,
lululemon, the North Face, Williams Sonoma, YETI and many others.
Dining options include Din Tai Fung, The Cheesecake Factory, 85C
Bakery Cafe, Nordstrom Marketplace Cafe, and Thirsty Lion Gastropub
& Grill.
Macerich is a fully integrated, self-managed and
self-administered real estate investment trust (REIT). As a leading
owner, operator and developer of high-quality retail real estate in
densely populated and attractive U.S. markets, Macerich’s portfolio
is concentrated in California, the Pacific Northwest,
Phoenix/Scottsdale, and the Metro New York to Washington, D.C.
corridor. Developing and managing properties that serve as
community cornerstones, Macerich currently owns 46 million square
feet of real estate consisting primarily of interests in 43
regional town centers. Macerich is firmly dedicated to advancing
environmental goals, social good and sound corporate governance. A
recognized leader in sustainability, Macerich has achieved a #1
Global Real Estate Sustainability Benchmark (GRESB) ranking for the
North American retail sector for nine consecutive years
(2015-2023). For more information, please visit
www.Macerich.com.
Macerich uses, and intends to continue to use, its Investor
Relations website, which can be found
at investing.macerich.com, as a means of disclosing material
nonpublic information and for complying with its disclosure
obligations under Regulation FD. Additional information about
Macerich can be found through social media platforms such as
LinkedIn. Reconciliations of non-GAAP financial measures, including
NOI and FFO, to the most directly comparable GAAP measures are
included in the earnings release and supplemental filed on Form 8-K
with the SEC, which are posted on the Investor Relations website
at investing.macerich.com
MAC-CSOURCE: Macerich
MEDIA CONTACT: Karen Maurer, Macerich, 602-708-6311, Website:
https://www.macerich.com/
A video accompanying this announcement is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/7fdee622-4571-4341-ab16-f93478d6994b
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