-A-Quality Portfolio Continues Successful
Anchor-Replacement Activity-
SANTA
MONICA, Calif., June 21,
2022 /PRNewswire/ -- Macerich (NYSE: MAC), one
of the nation's leading owners, operators and developers of
one-of-a-kind retail and mixed-use properties in top
markets, has announced it will welcome a new Target store
to Danbury Fair, just 55 miles from New York City in upscale suburban Connecticut.
The 126,000 square-foot 2-level Target store will
open in the former Sears site and will be the first in the
City of Danbury.
Target recently opened a new, three-level store in the former
JCPenney location at Macerich's high-performing Kings Plaza in
Brooklyn. As noted in The Real
Deal in November 2021, when Macerich
announced it would welcome Target to Kings Plaza, "Target's opening
adds to a slew of anchor store replacements at Macerich
properties….Irish retailer Primark is taking over department store
locations in Green Acres Mall on Long
Island, Tysons Corner Center in Northern Virginia and Fashion District
Philadelphia."
Macerich has made similar replacements in the west, too. In May,
the retail giant announced a Scheel's All Sports will replace a
former Nordstrom department store at Chandler Fashion Center in
Arizona.
Regarding the latest news about Danbury
Fair, Macerich President Ed
Coppola said, "Target coming to Danbury Fair is the latest anchor-replacement
success for Macerich's A-quality portfolio of regional town
centers. The terrific merchandise mix and attractive demographics
surrounding Danbury Fair make this
property a great match for all that Target has to offer."
Danbury Fair is one of New
England's largest shopping destinations, anchored by JCPenney,
Macy's, DICK's Sporting Goods and Primark, and with exciting
retailers and restaurants including Apple, lululemon,
Anthropologie, Pottery Barn, Urban Outfitters, LL Bean, The
Cheesecake Factory, Golf Lounge 18, Shake Shack and over 180 other
shops.
About Macerich
Macerich is a fully integrated, self-managed and
self-administered real estate investment trust (REIT). As a
leading owner, operator and developer of high-quality retail real
estate in densely populated and attractive U.S. markets, Macerich's
portfolio is concentrated in California, the Pacific Northwest,
Phoenix/Scottsdale, and the Metro New York to
Washington, D.C. corridor.
Developing and managing properties that serve as community
cornerstones, Macerich currently owns 48 million square feet of
real estate consisting primarily of interests
in 44 regional town centers. Macerich is firmly
dedicated to advancing environmental goals, social good and sound
corporate governance. A recognized leader in sustainability,
Macerich has achieved a #1 GRESB
ranking for the North American retail sector
for seven straight years (2015-2021). For more
information, please visit www.Macerich.com.
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SOURCE Macerich Company