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|Traded as||NYSE: MAC
S&P 500 Component
|Industry||Real estate investment trusts|
|Founded||Santa Monica, California, (1964)|
|Headquarters||401 Wilshire Boulevard
Santa Monica, California,
|Arthur M. Coppola (CEO)|
|Revenue||US$ 881.3 million (2012)|
|Total assets||US$ 9.31 billion (2012)|
|Total equity||US$ 3.416 billion (2012)|
Number of employees
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."
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.
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 , 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.
- Stahl, George. "Macerich Rejects Simon Property's $16.8 Billion Takeover Bid". Wall Street Journal. Retrieved 26 January 2016.
- Gara, Antoine. "Simon Property Withdraws $95.50 A Share Macerich Takeover Bid". Forbes. Retrieved 26 January 2016.
- "Macerich Sells Mall Interests to GIC, Heitman for $2.3 Billion". Bloomberg. January 4, 2016. Retrieved January 25, 2015.
- "Country Club Plaza will sell $660 million". The Kansas City Star. January 4, 2016. Retrieved January 25, 2015.
- DiStefano, Joseph N. (July 31, 2014). "Mall developer Macerich Co. to invest $106.8M in Gallery revival effort". The Philadelphia Inquirer. Retrieved February 15, 2015.
- "NORAD kicks off 50th anniversary of tracking Santa, Nov 21, 2005 by Sgt. 1st Class Gail Braymen, NORAD Public Affairs". NORAD. Retrieved 2009-12-29.
- "Decking the Malls: Holiday Marketing Programs Are More Elaborate than Ever, December 2006 by Debra Hazel". SCT - Shopping Center Today. Retrieved 2009-12-29.
- "Santa Tracking Station, November 2007" (PDF). The Becker Group. Retrieved 2009-12-31.
- "Macerich Malls Offer Interactive Santa Tracking Stations, December 12, 2007". Promo. Retrieved 2009-12-31.