-Expansion Reflects Dillard's Significant
Investment in Lubbock Market-
SANTA
MONICA, Calif., Nov. 15,
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, today announced
that Dillard's (NYSE: DDS) will construct a new, larger store to
replace its existing operations at South Plains Mall in
Lubbock, Texas.
"We could not be more pleased that Dillard's is expanding its
presence at South Plains,
Lubbock's leading retail
destination," said Ed Coppola,
Macerich President. "Shoppers across the U.S. rely upon Dillard's
curated selection of smart, high-quality fashion lines, beauty
offerings and items for the home. The brand's expansion in
Lubbock speaks to Dillard's long
history of delighting customers with desirable products and stellar
service, its strength as a company, and the continued appeal of
South Plains Mall."
The new, flagship 220,000-square-foot store will take over the
former Sears site, replacing the two locations Dillard's currently
occupies at South Plains Mall.
Dillard's Chief Executive Officer William T. Dillard II stated, "We are pleased to
enhance our presence at South Plains Mall, further solidifying the
center as one of West Texas'
premier shopping destinations. Today's announcement underscores and
celebrates our 50-year service commitment to our Lubbock-area customers." Mr. Dillard noted
that Dillard's opened its South Plains Mall store in July
1972.
The new store will feature Dillard's latest enhancements in
store design, merchandising and technology and feature a premium
lineup of brands tailored specifically to the tastes and
preferences of Dillard's West
Texas customers. Construction is slated to begin
immediately, with an anticipated opening date in early 2024.
At South Plains, the move also
creates an enticing opportunity for new or expanding tenants to
lease prime locations, Coppola said. "We're proud to further our
relationship with Dillard's at South Plains Mall, and we're excited
about the opportunity to bring additional retailers to this
essential shopping, dining, and entertainment destination for
West Texas and Lubbock."
Of the new store's impact locally, Lubbock Mayor Tray
Payne said, "South Plains Mall is more than a place for
shopping and dining — it's a hub that attracts people from around
West Texas to come and enjoy
Lubbock. The new Dillard's store
will offer more opportunities for people who live in or visit
Lubbock, and that's good for our
economy and community."
About Dillard's
Dillard's was founded by William T.
Dillard in 1938 in Nashville,
Arkansas, with an $8,000
investment in a hometown department store. Today, Dillard's, Inc.
ranks among the nation's largest fashion retailers — operating 249
Dillard's locations and 28 clearance centers spanning 29 states and
an internet store at dillards.com. The Company focuses on
delivering style, quality and value to its customers by offering
premium fashion apparel, beauty and home collections from both
national and exclusive brand sources. Dillard's complements this
curated product assortment with exceptional, client-focused
customer care.
About South Plains Mall
South Plains is a regional
shopping, dining and entertainment center featuring a large variety
of specialty stores, including Dillard's, JCPenney, H&M,
Pandora, PINK and Hollister. It is
also home to restaurants including The Cheesecake Factory, Uncle
Julio's, Bubba's 33, Olive Garden, Jamba and Chick-fil-A, plus
Premiere Cinemas & IMAX. For more information, please
visit southplainsmall.com.
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 eight years (2015-2022). For more information, please
visit www.Macerich.com.
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SOURCE Macerich Company