Hudson Pacific and Macerich to transform Westside Pavilion into state-of-the-art creative office space in a Prime Los Angeles Location

  • Hudson Pacific Brings Deep Expertise in Successfully Redeveloping and Repositioning Properties as Creative Offices to Attract Top-Tier Tenants in Technology, Entertainment, and Other High-Growth Industries
  • Redevelopment to Provide Approximately 500,000 Square Feet of Creative Office in a Prime Los Angeles Location Adjacent to Freeways and Public Transportation

LOS ANGELES, 2018-Mar-08 — /EPR Retail News/ — Hudson Pacific Properties, Inc. (NYSE: HPP) and Macerich (NYSE: MAC) today (03/05/18) announced the formation of a joint venture through which Hudson Pacific and Macerich will work together to transform the approximately 600,000 square-foot Westside Pavilion into approximately 500,000 square feet of state-of-the-art creative office space, while retaining the approximately 100,000 square feet of existing entertainment retail space. The joint venture will be held 75% by Hudson Pacific and 25% by Macerich.

The companies estimate total project costs, including the asset value at contribution, in the range of $425-475 million, with each partner contributing their pro rata share. The construction is expected to be completed by mid-2021. Hudson Pacific will serve as the joint venture’s Managing Member and the property’s day-to-day operator and developer.

Victor Coleman, Chairman and CEO of Hudson Pacific, said: “Westside Pavilion is a perfect opportunity for us to reposition a marquee asset in a premier location—this is what we do best. The project is poised to capture the strong demand from tenants for creative office space on the west side of Los Angeles. We look forward to working with Macerich and to making our signature improvements to the property, which we believe will greatly benefit the surrounding community.”

Art Coppola, Chairman and CEO of Macerich, said: “Our joint venture with Hudson Pacific will enable us to maximize the value of this incredibly well-situated real estate with dynamic new uses—something Macerich has always excelled at. Hudson Pacific brings great expertise in the creative office space segment, and we are pleased to partner with them on this exciting, high visibility project.”

Westside Pavilion is located proximate to the I-405 and I-10 freeways and steps from the Expo Line light rail’s Westwood/Rancho Park station. The property is immediately adjacent to the residential enclave of Cheviot Hills, and less than three miles from the business and residential communities of Century City, Westwood, Culver City, Mar Vista and Brentwood. The property’s proximity to these neighborhoods, excellent access to freeways and public transit, and its large footprint and parking areas make it ideal for redeveloping office space.

About Hudson Pacific Properties

Hudson Pacific Properties is a vertically integrated real estate company focused on acquiring, repositioning, developing and operating high quality office and state-of-the-art media and entertainment properties in select West Coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value. Founded in 2006 as Hudson Capital, the company went public in 2010, electing to be taxed as a real estate investment trust. Through the years, Hudson Pacific has strategically assembled a portfolio totaling over 17 million square feet including land for development, in high growth, high-barrier-to-entry submarkets throughout Northern and Southern California and the Pacific Northwest. The company is a leading provider of design-forward, next-generation workspaces for a variety of tenants, with a focus on Fortune 500 and leading growth companies, many in the technology, media and entertainment sectors. As a long-term owner, Hudson Pacific prioritizes tenant satisfaction and retention, providing highly customized build-outs and working proactively to accommodate tenants’ growth. Hudson Pacific trades as a component of the Russell 2000® and the Russell 3000® indices. For more information visit HudsonPacificProperties.com.

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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has earned NAREIT’s prestigious “Leader in the Light” award every year from 2014-2017. For the third straight year in 2017 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments. Additional information about Macerich can be obtained from the company’s website at www.macerich.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the company’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission, or SEC, on February 16, 2018, and other risks described in documents subsequently filed by the company from time to time with the SEC.

Contacts:

Investor/Media Contacts:
Hudson Pacific Properties
Laura Campbell
Vice President, Head of Investor Relations
310.622.1702
lcampbell@hudsonppi.com

Macerich
Karen Maurer
602.953.6471
karen.maurer@macerich.com

Source: Macerich

Macerich to participate in the Citi 2018 Global Property CEO Conference in Hollywood, Florida

SANTA MONICA, Calif., 2018-Mar-06 — /EPR Retail News/ — Macerich® (NYSE: MAC) today (03/05/18) announced that Art Coppola, CEO and Chairman, Ed Coppola, President and Tom O’Hern, Senior Executive Vice President and CFO will participate in the Citi 2018 Global Property CEO Conference in Hollywood, Florida.

Macerich will participate in a roundtable discussion from approximately 2:55 p.m. to 3:30 p.m. Eastern Time, on Monday, March 5, 2018.  Interested parties can listen to a live audio only webcast of the discussion on the Macerich website at www.macerich.com (Investing Section). To listen, please go to the website, at least fifteen minutes prior to the start of the discussion in order to register.  An online replay of the webcast will be available one hour after the conclusion of the live event and will be available until May 1, 2018.

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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor.

A recognized leader in sustainability, Macerich has earned NAREIT’s prestigious “Leader in the Light” award every year from 2014-2017. For the third straight year in 2017 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

Contact:

Jean Wood
Vice President
Investor Relations
(424-229-33

SOURCE: Macerich

Macerich and Life Time® to build a Athletic healthy lifestyle, wellness and entertainment resort destination at Biltmore Fashion Park in Phoenix

Macerich and Life Time® to build a Athletic healthy lifestyle, wellness and entertainment resort destination at Biltmore Fashion Park in Phoenix

 

SANTA MONICA, Calif., 2017-Dec-07 — /EPR Retail News/ — Macerich (NYSE:MAC), one of the nation’s leading owners, operators and developers of retail properties in top markets, and Life Time®, the nation’s only Healthy Way of Life brand, today announced a ground-up, 80,000 square-foot, resort-like Life Time Athletic healthy lifestyle, wellness and entertainment destination to be built at Biltmore Fashion Park in Phoenix.

The luxury, high-end destination will be the first Diamond-level location for Life Time in Arizona, and the organization’s sixth club in the state. The new destination will be built in the east surface parking lot of the shopping center.

Life Time at Biltmore Fashion Park will offer a healthy living, healthy aging, healthy entertainment resort LifeSpa, a full-service salon and spa providing serene and relaxing treatment rooms for massage and facials as well as full hair and nail service; LifeCafe, a full-service, fast casual restaurant and bar; and a rooftop pool with bistro, plus a unique Kids Academy program, group fitness studios, yoga studios, a cycle studio, a Pilates studio, basketball court and much more.

“Biltmore Fashion Park is the ideal setting for our new Diamond location, which will be our most luxurious health, wellness, lifestyle and entertainment destination in the Phoenix area,” said Jeff Zwiefel, Life Time chief operating officer. “Our members already spend time in this well-placed property in the heart of the upscale Camelback Corridor, and it’s a great fit for our Life Time brand.”

Said Macerich Chairman and CEO Art Coppola: “Biltmore Fashion Park, with its park-like green lawns and outstanding collection of luxury retail and fine dining, is a favorite experience for the region’s best shoppers. The new, top-level Life Time destination adds to the powerful list of attractions for this true town square and one-of-a-kind property, and further demonstrates Macerich’s ability to elevate the experiences in our exceptional portfolio.”

The iconic, all-outdoor Biltmore Fashion Park is Arizona’s original luxury retail destination, featuring Saks Fifth Avenue, Stuart Weitzman, Jonathan Adler, lululemon and more, plus a stellar line-up of destination restaurants including The Capital Grille, The Cheesecake Factory, Christopher’s and Seasons 52, and a rich variety of dining experiences from Fox Restaurant Concepts, such as True Food Kitchen, Zinburger and BLANCO TACOS + TEQUILA.

About Life Time®—Healthy Way of Life
Life Time champions a healthy and happy life for its members across 129 destinations in 37 major markets in the U.S. and Canada. As the nation’s only Healthy Way of Life brand, Life Time delivers an unmatched athletic resort experience and provides a comprehensive healthy living, healthy aging and healthy entertainment experience that goes well beyond fitness to encompass the entire spectrum of daily life for individuals, couples and families of all ages. For more information visit www.lifetime.life.

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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor.

A recognized leader in sustainability, Macerich has earned NAREIT’s prestigious “Leader in the Light” award every year from 2014-2017. For the third straight year in 2017 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

Contact:

Karen Maurer
Macerich
602-708-6311
karen.maurer@macerich.com

Natalie Bushaw
Life Time
952-229-2007
nbushaw@lifetimefitness.com

SOURCE: Macerich Company

###

NAREIT names Macerich 2017 Retail “Leader in the Light” for the fourth straight year

  • Macerich Earns Nareit’s Prestigious Retail ‘leader In The Light’ Award For Fourth Straight Year, Leading Industry In Sustainability
  • Macerich Also Achieves #1 GRESB Ranking for North American Retail Sector in 2017, Third Year in a Row

SANTA MONICA, Calif., 2017-Nov-17 — /EPR Retail News/ — Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of one-of-a-kind retail properties in top markets, today announced that the National Association of Real Estate Investment Trusts (NAREIT) has named Macerich 2017 Retail “Leader in the Light” for an unprecedented fourth straight year.

“Earning ‘Leader in the Light’ for the fourth consecutive year, added to other important global and national recognition of our environmental achievements, is a powerful testament to Macerich’s ongoing industry leadership in sustainability,” said Art Coppola, Chairman and Chief Executive Officer, Macerich. “Our vision and commitment to invest in energy assets including solar, fuel cell, battery storage and water technology – combined with smart practices in utility conservation and water reservation – not only provide strong economic results, but also propel us toward our industry-leading goal of achieving carbon neutrality by 2030.”

Other major sustainability awards – including multiple repeat honors – earned by Macerich in 2017 include:

  • GRESB: For the third straight year, Macerich achieved the #1 ranking in the North American Retail Sector for 2017, based on scores published by Global Real Estate Sustainability Benchmark (GRESB).
  • EPA Green Power Partnership: Macerich again made the Environmental Protection Agency’s Green Power Partnership list of Top 30 On-Site Generation companies, also for the third consecutive year.
  • CDP: Macerich achieved high rankings with CDP for actions to mitigate climate change for the third year in a row.
  • BREEAM USA In-use Certification for 10 more properties: This fall, Macerich is set to earn this important green building standard for existing buildings for Danbury Fair, Deptford Mall, FlatIron Crossing, Green Acres Mall, Kierland Commons, Kings Plaza, Queens Center, Scottsdale Fashion Square, Twenty Ninth Street and Tysons Corner Center. Earlier this year, Macerich’s The Oaks merited distinction as the country’s first BREEAM USA In-use certified building.

“Our top properties and top markets, from Santa Monica and Walnut Creek, California, to Portland, Boulder and Northern Virginia, include some of the most forward-thinking and environmentally attuned consumers in the world,” added Coppola. “Leading the retail real estate industry in the critically important area of sustainability is a natural position for Macerich.”

For more information on Macerich’s comprehensive sustainability efforts and impacts, please view the 2016 Sustainability Report.

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 54 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

Contact:

Karen Maurer
Macerich
602-708-6311
Website: http://www.macerich.com

SOURCE: Macerich Company

Macerich® Chairman and CEO Art Coppola to present at REITWeek 2017: NAREIT’s Investor Forum®

SANTA MONICA, Calif., 2017-Jun-02 — /EPR Retail News/ — Macerich® (NYSE: MAC), today ( June 1, 2017) announced that Art Coppola, Chairman and Chief Executive Officer will present at  REITWeek 2017: NAREIT’s Investor Forum® in New York, New York.

The Company’s presentation is scheduled for 2:45 pm to 3:15 pm Eastern Time, on Wednesday, June 7, 2017. The live audio-only webcast will be available online in the Investing Section of the Company’s website at www.macerich.com.  An online replay will be available through 11:59 pm Pacific Time, July 22, 2017 at the same location.

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 54 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

Contact:

John Perry
Senior Vice President-Investor Relations
424-229-3345

Jean Wood
Vice President-Investor Relations
424-229-3366

SOURCE: The Macerich Company

Macerich management to present at Citi 2016 Global Property CEO Conference

SANTA MONICA, Calif., 2016-Mar-14 — /EPR Retail News/ — Macerich® (NYSE: MAC), today announced that Art Coppola, CEO and Chairman of the Board of Directors, Ed Coppola, President and Tom O’Hern, Senior Executive Vice President and Chief Financial Officer will participate in the Citi 2016 Global Property CEO Conference in Hollywood, Florida.

Macerich will participate in a roundtable discussion from approximately 3:35 p.m. to 4:10 p.m. Eastern Time, on Tuesday, March 15, 2016.  Interested parties can listen to a live audio only webcast of the discussion on the Macerich website at www.macerich.com (Investing Section).  To listen, please go to the website or link below, at least fifteen minutes prior to the start of the discussion in order to register.  An online replay of the webcast will be available one hour after the conclusion of the live event and will be available at this link below until March 29, 2016.

http://www.veracast.com/webcasts/citigroup/globalproperty2016/62212332325.cfm

Macerich has posted additional materials to the Investing Section of the Company’s website at www.macerich.com.

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 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. Macerichspecializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in thePacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor. Additional information about Macerich can be obtained from the Company’s website at www.macerich.com.

 

SOURCE Macerich

John Perry, Senior Vice President, Investor Relations (424-229-3345) or Jean Wood, Vice President, Investor Relations (424-229-3366)

Macerich: 45 retailers to join the redeveloped Broadway Plaza in Walnut Creek, Calif

First Retailers Set to Open Late 2015, along with Expanded Macy’s, at Market-dominant East Bay Property

SANTA MONICA, Calif., 2015-10-27 — /EPR Retail News/ — Macerich (NYSE: MAC) announced today 45 retailers set to join the expanded and completely redeveloped Broadway Plaza in Walnut Creek, Calif. The center, anchored by Nordstrom, Neiman Marcus and Macy’s, is undergoing a major renovation that will add 315,000 square feet of new space, plus new parking, new finishes and refreshed outdoor amenities. The iconic open-air center has been a dominant retail destination for the East Bay market of San Francisco since 1951.

“The major update and redesign of our trophy property at Broadway Plaza is another example of Macerich’s ability to successfully densify our fortress retail centers to meet retailers’ expansion needs, as well as offer our shoppers an enhanced and upgraded store selection,” said Art Coppola, Chairman and CEO, Macerich.

New stores opening in the expanded center include Allen Edmonds, Apex, Arhaus, Aritzia, Athleta, Aveda, Bath & Body Works, Boudin Bakery, Clarks, Cocola Bakery, ECCO, Eileen Fisher, Everything But Water, Gap, Hanna Andersson, H&M, ivivva, J. Crew, J.Jill, Kiehl’s, Kit & Ace, L’Occitane, Lou & Grey, Lucky Brand Jeans, lululemon athletica, LUSH, Madewell, Michael Kors, Nespresso, NYX, Pandora, Papyrus, See’s Candies, Soma, SoulCycle, Starbucks, Teavana, Tesla, The Walking Company, True Food Kitchen, True Religion Brand Jeans, Vince Camuto, Victoria’s Secret,White House/Black Market and Zara.

“We are very pleased with the response from the retailer community and are especially excited about the commitments from Arhaus, Gap, H&M and Zara to build two-level, flagship stores at Broadway Plaza,” said Robert Perlmutter, Executive Vice President, Leasing, Macerich. “The addition of the new specialty retailers and expansion of existing stores complement our current tenant base, which includes great brands such as Banana Republic, Coach, Crate & Barrel, Kate Spade, Michael Stars, Sephora and Sur La Table. We are building an extraordinary retail roster for this exceptional property.”

Broadway Plaza anchor Macy’s is also undergoing its own 57,000 square-foot expansion, and the redesigned 247,000 square-foot store will be complete this November. The expanded and redesigned store will incorporate a new men’s department, which moves from a separate location at Broadway Plaza.  The larger store will also debut with its renovation a new handbag floor; a new cosmetics department; new fine jewelry and fashion jewelry departments; new fine watch and fashion watch departments; new restrooms and more.

About the Expansion
Macerich is transforming Broadway Plaza in line with the appealing scale of downtown Walnut Creek by demolishing and replacing about 80,000 square feet of existing retail space as well as two older, inefficient parking structures. The new parking structure will offer four levels of parking on the Macy’s side.

Broadway Plaza will start to unveil the first set of retailers and significant enhancements at the property just in time for the 2015 holiday season, with the opening of two new retail buildings as well as a portion of the South Broadway Parking Garage on the Macy’s side.

Opening 2015

 

Opening 2016
Allen Edmonds Arhaus
Apex Aritzia
Athleta Bath & Body Works
Aveda Boudin Bakery
ECCO Clarks
Eileen Fisher Cocola Bakery
ivviva Everything But Water
J. Crew GAP
Kiehl’s Hanna Andersson
Kit & Ace H&M
L’Occitane J. Jill
Lou & Grey Lucky Brand Jeans
lululemon Papyrus
LUSH See’s Candies
Madewell Soma
Michael Kors SoulCycle
Nespresso Starbucks
NYX Teavana
Pandora True Food Kitchen
Tesla True Religion Brand Jeans
The Walking Company Victoria’s Secret
Vince Camuto White House/Black Market
Zara

The convenience and experience of guests remains a high priority at Broadway Plaza throughout the property’s transformation. Complimentary Valet Parking is available seven days a week, and Roving Ambassadors and Text Concierge programs enable guests to enjoy a top-quality shopping experience throughout the construction process. For more information about the Broadway Plaza Redevelopment project, visit www.BroadwayPlaza.com/Redevelopment.

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 55 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. Macerichspecializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in theCalifornia, Arizona, Chicago and the Metro New York to Washington, D.C. corridor. Additional information about Macerich can be obtained from the Company’s website: www.macerich.com

SOURCE Macerich

Karen Maurer, Macerich, 602-708-6311