Type Public Revenue 881.3 million USD (2012) | Area served United States CEO Arthur M. Coppola (1993–) | |
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Traded as NYSE: MAC
S&P 500 Component Industry Real estate investment trusts Founded Santa Monica, California, (1964) Key people Arthur M. Coppola (CEO) Stock price MAC (NYSE) US$ 64.62 -0.27 (-0.42%)16 Mar, 4:00 PM GMT-4 - Disclaimer Headquarters Santa Monica, California, United States Subsidiaries Westcor, THE MACERICH PARTNERSHIP, L.P. | ||
Macerich is a self-managed Real Estate Investment Trust headquartered in Santa Monica, California. It is the third-largest owner and operator of shopping centers in the United States.
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It 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. After years of buying and owning shopping centers privately, in 1994 the company went public as "The Macerich Company". In 2006, the company name was rebranded to "Macerich."
Acquisitions
In 2002, Macerich acquired Phoenix-based Westcor Partners for $1.475 billion. The purchase added nine properties to Macerich's portfolio, including Scottsdale Fashion Square. Three years later, it acquired Rochester-based Wilmorite Properties for $2.333 billion, adding 11 shopping centers to Macerich's portfolio including Tysons Corner Center.
Potential merger
On April 1 2015, the company rejected a $16.8 Billion takeover offer from Simon Property Group. Macerich rejected the takeover bid on the grounds that Simon undervalued the company and its future potential growth.
NORAD Tracks Santa Program
The Macerich Company was a NORAD Tracks Santa program partner and sponsor for the 2005 and 2006 NORAD Tracks Santa seasons. As part of that sponsorship, from November 18 to December 25, 2005, for the 50th anniversary of the NORAD Tracks Santa program, the Citadel Mall (owned by The Macerich Company from 1997 to 2006) had a massive Santa Tracking Village that included a 25-foot tree, a tracking map and viewfinder where children and the young at heart could watch a NORAD Tracks Santa video, hear audio messages of peace from children around the world, and receive a 24-page coloring book with Santa's assistants wearing NORAD patches. This NORAD/Santa Tracking Station effort was expanded upon, in cooperation with the Becker Group [1], so that by November 2007, NORAD/Santa Tracking Stations were featured at Macerich property locations, such as:
The NORAD/Santa Tracking Stations featured many interactive elements, including a state-of-the-art green screen photo operation, which digitally puts Santa and guests into an airborne sleigh flying over famous world landmarks. The overall experience provided retail centers with multiple benefits such as extended "stays of visit," additional, and changing foot-traffic patterns and property brand recognition. The result was a wonderful, and inventive boost to the physical shopping experience at the Macerich malls featuring NORAD/Santa Tracking Stations.