Macerich
 | |
Type | Public company |
|---|---|
| Traded as | NYSE: MAC S&P 500 Index Component |
| Industry | Real estate investment trust |
| Founded | 1964 (1964) |
| Founder | Mace Siegel Richard Cohen |
| Headquarters | Santa Monica, California |
Key people | Thomas O'Hern, CEO) |
| Revenue |  $0.993 billion (2017) |
Net income | $0.161 billion (2017) |
| Total assets | $9.605 billion (2017) |
| Total equity | $3.967 billion (2017) |
Number of employees | 295 (2017) |
| Website | www.macerich.com |
Footnotes / references [1] | |
Lt.-Gen. Rick Findley, deputy commander of the North American Aerospace Defense Command, and Robert Taylor, senior property manager at Citadel Mall, perform the ceremonial ribbon cutting during the Nov. 18, 2005 launch of the Citadel Mall's Santa Tracking Station.
Macerich is a real estate investment trust that invests in shopping centers. It is the third-largest owner and operator of shopping centers in the United States. As of December 31, 2017, the company owned interests in 55 properties comprising 53 million square feet of leasable area.[1]
The company name is a portmanteau of its founders, Mace Siegel and Richard Cohen.
Contents
1 History
2 Notable investments
3 Philanthropy
4 See also
5 References
6 External links
History
The company traces its antecedents to the MaceRich Real Estate Company founded in New York in 1964 by Mace Siegel and Richard Cohen who combined their first names to name their company.
In 1994, the company became a public company via an initial public offering.
In 2006, the company name was rebranded to "Macerich."
In 2002, Macerich acquired Phoenix, Arizona-based Westcor for $1.475 billion. The purchase added 9 properties to Macerich's portfolio, including Scottsdale Fashion Square.[2]
In 2005, the company acquired Rochester, New York-based Wilmorite Properties for $2.333 billion, adding 11 shopping centers to Macerich's portfolio including Tysons Corner Center.[3]
On April 1, 2015, the company rejected a $16.8 billion takeover offer from Simon Property Group, claiming that the offer undervalued the company. Simon withdrew the offer.[4][5]
Notable investments
| Mall | Location | Notes | |
|---|---|---|---|
Arden Fair Mall | Sacramento, California | Owned by Fulcrum Property, managed by Macerich[6] | |
Arrowhead Towne Center | Glendale, Arizona | 60% ownership with GIC[7] | |
Biltmore Fashion Park | Phoenix, Arizona | ||
Broadway Plaza | Walnut Creek, California | ||
Capitola Mall | Capitola, California | ||
Cascade Mall | Burlington, Washington | ||
Chandler Fashion Center | Chandler, Arizona | ||
Country Club Plaza | Kansas City, Missouri | 50% ownership with Taubman Centers[8] | |
Cross County Shopping Center | Yonkers, New York | ||
Danbury Fair Mall | Danbury, Connecticut | ||
Deptford Mall | Deptford Township, New Jersey | ||
Desert Sky Mall | Phoenix, Arizona | ||
Eastland Mall | Evansville, Indiana | ||
Freehold Raceway Mall | Freehold Township, New Jersey | ||
Fashion Fair Mall | Fresno, California | ||
Fashion Outlets of Chicago | Rosemont, Illinois | ||
Fashion Outlets of Niagara Falls | Niagara Falls, New York | ||
Flatiron Crossing Mall | Broomfield, Colorado | ||
Fashion District Philadelphia | Philadelphia, Pennsylvania | 50% ownership with PREIT. Mall managed by PREIT.[9] | |
Green Acres Mall | Valley Stream, New York | ||
Inland Center | San Bernardino, California | ||
Kierland Commons | Phoenix, Arizona | ||
Kings Plaza | Brooklyn, New York | ||
La Cumbre Plaza | Santa Barbara, California | ||
La Encantada | Tucson, Arizona | ||
Lakewood Center | Lakewood, California | 60% ownership with GIC[7] | |
Los Cerritos Center | Cerritos, California | 60% ownership with GIC[7] | |
The Mall of Victor Valley | Victorville, California | ||
Northgate | San Rafael, California | ||
NorthPark Mall | Davenport, Iowa | ||
The Oaks | Thousand Oaks, California | ||
Pacific View Mall | Ventura, California | ||
Paradise Valley Mall | Phoenix, Arizona | ||
Queens Center | Queens, New York | ||
Rotterdam Square | Rotterdam, New York | ||
Santa Monica Place | Santa Monica, California | ||
SanTan Village | Gilbert, Arizona | Phoenix, Arizona | |
Scottsdale Fashion Square | Scottsdale, Arizona | Phoenix, Arizona | |
The Shops at Atlas Park | Queens, New York | ||
The Shops at North Bridge | Chicago, Illinois | ||
South Plains Mall | Lubbock, Texas | 60% ownership with GIC[7] | |
SouthPark Mall | Moline, Illinois | ||
Southridge Mall | Des Moines, Iowa | ||
Stonewood Center | Downey, California | ||
Superstition Springs Center | Mesa, Arizona | ||
Towne Mall | Elizabethtown, Kentucky | ||
Twenty Ninth Street | Boulder, Colorado | ||
Tysons Corner Center | Tysons Corner, Virginia | ||
Valley Mall | Harrisonburg, Virginia | ||
Valley River Center | Eugene, Oregon | ||
The Village at Corte Madera | Corte Madera, California | ||
Vintage Faire Mall | Modesto, California | ||
Washington Square | Tigard, Oregon | 60% ownership with GIC[7] | |
Westside Pavilion | Los Angeles, California | ||
Wilton Mall | Wilton, New York |
Philanthropy
The company is a facilitator of the NORAD Tracks Santa program.[citation needed]
See also
- Shopping property management firms
References
^ ab "The Macerich Company 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output .citation q{quotes:"""""""'""'"}.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/12px-Wikisource-logo.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-maint{display:none;color:#33aa33;margin-left:0.3em}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}
^ Padgett, Mike (May 31, 2002). "Westcor sold for $1.5B". American City Business Journals.
^ Smith, Ray A. (December 24, 2004). "Macerich to Acquire Wilmorite Properties In $1.45 Billion Deal". The Wall Street Journal.
^ Stahl, George (April 1, 2015). "Macerich Rejects Simon Property's $16.8 Billion Takeover Bid". The Wall Street Journal. (Subscription required (help)).
^ Gara, Antoine (April 1, 2015). "Simon Property Withdraws $95.50 A Share Macerich Takeover Bid". Forbes.
^ "Fulcrum Property - Arden Fair Mall". www.fulcrumproperty.com.
^ abcde Yu, Hui-yong (January 4, 2016). "Macerich Sells Mall Interests to GIC, Heitman for $2.3 Billion". Bloomberg News. (Subscription required (help)).
^ "Country Club Plaza will sell $660 million". The Kansas City Star. January 4, 2016.
^ DiStefano, Joseph N. (July 31, 2014). "Mall developer Macerich Co. to invest $106.8M in Gallery revival effort". The Philadelphia Inquirer.
External links
- Macerich Home Page
- Business data for Macerich: Google Finance
- Yahoo! Finance
- Reuters
- SEC filings
- Business data for Macerich: Google Finance
