SANTA MONICA, Calif.,
Oct. 5, 2020 /PRNewswire/
-- 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 all 47 of the Company's major retail
properties nationwide will soon be fully open for business, now
that LA County has approved indoor mall reopenings on October 7.
The easing of COVID-19-related restrictions in Los Angeles means every Macerich property
across the country is now welcoming shoppers ahead of this year's
holiday season, which retailers and industry observers expect to
start early, in October.
"People can have peace of mind shopping at Macerich retail
properties because we've put well-being first," said Tom O'Hern, Chief Executive Officer, Macerich.
"With hospital-grade MERV-13 filtration added to our top-quality
air systems, our intensified cleaning and sanitizing program, plus
lots of room to social distance in our spacious interiors, shoppers
and employees can feel confident at our centers. It's great to see
people shopping again at every one of our properties and to see so
many people back to work."
Nationwide, Macerich centers create employment for an estimated
110,000 people, and the portfolio generates an estimated
$1.1 billion in sales tax revenues
and $225 million in property taxes
that support essential services at every level.
An expert operator with decades of experience, Macerich adheres
to high operating standards and has new protocols in place to meet
today's needs, including enhanced cleaning and sanitizing,
providing masks at all properties as needed and requiring
mask-wearing at nearly all properties in compliance with state and
local requirements, social distance queuing, path of travel,
security, deliveries, and furniture placement per industry best
practices and CDC recommendations, alongside enhanced, high-quality
HVAC systems now featuring hospital-grade MERV-13 filtration.
The Company also utilizes state-of-the-art traffic-counting
practices at several of its properties, which offer an effective
tool to monitor and enforce capacity requirements.
About Macerich
Macerich is a fully integrated, self-managed and
self-administered real estate investment trust (REIT), 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 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