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press release

May 19, 2020, 6:01 a.m. EDT

20 Macerich Properties Now Fully Open

-Properties in 8 States Now Welcoming Shoppers with Enhanced Cleaning and Sanitizing, Wide Selection of Retailers, Restaurants-

SANTA MONICA, Calif., May 19, 2020 /PRNewswire/ -- Macerich /zigman2/quotes/203054096/composite MAC +7.63% , one of the nation's leading owners, operators and developers of one-of-a-kind retail properties in top markets, today announced that 20 major retail properties – including 11 in Arizona – are now fully open and welcoming shoppers with enhanced sanitation practices and social distancing protocols in place. In accordance with relevant state and local regulation, the company anticipates being able to open a total of approximately 35 centers by the end of May, with the vast majority of its centers to be reopened by the middle of June.

"These successful openings show that our town centers are a vital part of their communities. Nationwide, our centers create employment for more than 110,000 people, and our portfolio generates approximately $1.1 billion in sales tax revenues and $225 million in property taxes that support essential services at every level," said Thomas O'Hern, Chief Executive Officer, Macerich. "Local economies depend on us, and our retailers are eager and ready to open for business in a safe, carefully planned, well-executed manner."

Macerich properties now fully open include:

  • Arizona:

  • Colorado

  • Indiana

  • Iowa

  • Missouri

  • Oregon

  • Texas

  • Virginia

For many Macerich centers not yet fully open in accordance with guidelines set by local health authorities, "curbside pick-up" is currently offered as follows:

  • California

  • New Jersey

  • Colorado

  • Illinois

  • Oregon

Numerous retailers at Macerich properties have reported fulfilling thousands of curbside/online pick-up orders daily and are calling for this service to be offered even after all doors have officially opened for business.

With decades of experience adhering to the highest standards, Macerich has launched new protocols to meet today's needs, including enhanced cleaning and sanitizing, social distance queuing, path of travel, security, deliveries, furniture placement and more, all developed based on industry best practices and CDC recommendations. Macerich properties also utilize state-of-the-art traffic-counting practices to help monitor and enforce capacity requirements. Further, retailer and restaurant tenants also have taken numerous measures to ensure their spaces are ready for business. 

Macerich's large, enclosed properties feature vast interior common areas, providing ample room and a comfortable environment, even during peak retail periods, to practice effective social distancing. 

While the number of retailers and restaurants open, as well as mall traffic counts, vary by center, the past few weeks of welcoming shoppers back to in-person commerce reflect demand for shopping. Restaurants are once again booking reservations, and retailers are seeing social distance-spaced lines even before doors are open.

"This period of time has shown the importance of brick-and-mortar locations as key sales and profit drivers for most retailers and, as we've now seen in these markets, shoppers also are ready to get back to some of their favorite aspects of life," added O'Hern. "With our updated operational protocols, plus targeted changes in how retailers and restaurants are doing business, people can be confident as they visit our properties and together we can support the important economic activity that our communities and our country needs."

About Macerich

Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.

Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence on the West Coast and in Arizona, Chicago and the New York Metro area to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for five straight years (2015-2019). Additional information about Macerich can be obtained from the Company's website at www.macerich.com

 

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SOURCE Macerich

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/zigman2/quotes/203054096/composite
US : U.S.: NYSE
$ 8.46
+0.60 +7.63%
Volume: 3.21M
July 10, 2020 4:00p
P/E Ratio
8.67
Dividend Yield
23.64%
Market Cap
$1.96 billion
Rev. per Employee
$1.33M
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