Taubman and May Form Venture to Determine Willow Bend Lord & Taylor Store Replacement
March 22 2005 - 7:00PM
PR Newswire (US)
Taubman and May Form Venture to Determine Willow Bend Lord &
Taylor Store Replacement BLOOMFIELD HILLS, Mich., March 22
/PRNewswire-FirstCall/ -- Taubman Centers, Inc. (NYSE:TCO) and The
May Department Stores Company (NYSE:MAY) today announced plans to
form a venture to find a replacement for the Lord & Taylor
store at The Shops at Willow Bend (Plano, Tex.), which will close
to the public on April 30. The Lord & Taylor store at Willow
Bend is one of 32 Lord & Taylor stores that May announced its
intentions to divest in July 2003. "We look forward to working with
May to find the right tenant for the Lord & Taylor space at
Willow Bend," said William S. Taubman, executive vice president of
Taubman Centers. "We are pleased with the center's strengthening
sales performance, especially with the opening of the new Saks
Fifth Avenue store this past September. Other recent additions
include Anthropologie, Ann Taylor Loft, Sam Goody, and Finish Line.
Brooks Brothers, Benetton and babystyle are coming to the center in
2005." The Shops at Willow Bend is located at the northwest corner
of the Dallas North Tollway and West Park Boulevard and features
more than 145 stores, restaurants and services plus five anchors:
Neiman Marcus, Foley's, Dillard's, Lord & Taylor and Saks Fifth
Avenue. For more information about the shopping center, visit
http://www.shopwillowbend.com/ . Taubman Centers, a real estate
investment trust, owns and/or manages 22 regional and super
regional shopping centers in 10 states. In addition, two centers
are under construction. Northlake Mall (Charlotte, N.C.) is
scheduled to open September 15, 2005 and The Pier at Caesars
(Atlantic City, N.J.) is scheduled to open in early 2006. The
company is headquartered in Bloomfield Hills, Mich. Additional
information about Taubman Centers can be obtained from the
company's website at http://www.taubman.com/ . This press release
contains forward-looking statements within the meaning of the
Securities Act of 1933 as amended. These statements reflect
management's current views with respect to future events and
financial performance. Actual results may differ materially from
those expected because of various risks and uncertainties,
including, but not limited to changes in general economic and real
estate conditions, changes in the interest rate environment and
availability of financing, and adverse changes in the retail
industry. Other risks and uncertainties are discussed in the
companies' filings with the Securities and Exchange Commission
including their most recent Annual Reports on Form 10-K.
DATASOURCE: Taubman Centers, Inc. CONTACT: Barbara Baker
(Investors), +1-248-258-7367, Karen Mac Donald (Media),
+1-248-258-7469, both of Taubman Centers; Pamela Deahl, Marketing
and Sponsorship Director of The Shops at Willow Bend,
+1-972-202-7115; or Sharon Bateman of The May Department Stores
Company, +1-314-342-6494 Web site: http://www.taubman.com/
http://www.shopwillowbend.com/
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