Macerich and PenFed Credit Union Secure Exclusive Sponsorship Agreement for Tysons Corner Center Plaza

Rhea-AI Summary

Macerich (NYSE: MAC) has secured a multi-year exclusive sponsorship agreement with PenFed Credit Union for Tysons Corner Center Plaza in Virginia. The outdoor event space will be renamed to 'PenFed Plaza at Tysons Corner Center'.

The partnership includes exclusive branding opportunities across the 1.8 million square foot shopping center, featuring new plaza logo, digital signage, and presenting sponsorship of signature events. PenFed members will receive special perks like VIP seating at Plaza events.

The agreement covers:

• Permanent signage promoting PenFed Plaza
• Presenting sponsorship of annual events including Paws on the Plaza and Holiday Kick-Off Celebration
• Sponsorship of the Tysons Corner Center Wi-Fi network
• Content programming on a new Plaza-facing digital display

Positive

• Enhanced revenue potential through multi-year sponsorship agreement
• Increased brand visibility and marketing reach across 1.8M sq ft retail space
• Strengthened position as premier shopping destination with 300+ retailers

Negative

• None.

Agreement Underscores PenFed Credit Union’s Long-Standing Commitment to the Local Community and its Members

A Media Snippet accompanying this announcement is available by clicking on this link.

TYSONS, Va., March 20, 2025 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), a leading owner, operator, and developer of major retail properties in top markets, has finalized terms with PenFed Credit Union, America's second-largest federal credit union, on a new multi-year sponsorship and member engagement agreement. This exclusive deal enhances the branding power and reach of Tysons Corner Center’s experiential marketing programs and media network, engaging millions of shoppers and PenFed members annually. As a result, the outdoor event and community gathering space formerly known as “The Plaza” will now be called “PenFed Plaza at Tysons Corner Center.”

“PenFed is thrilled to continue increasing our presence and outreach here in our hometown of Tysons, Virginia to best support our nearly 400,000 members located across the DMV area,” said James Schenck, President and CEO of PenFed. “PenFed membership is open to everyone, and we are proud of the visibility and awareness the PenFed Plaza brings to our market-leading products and service. This relationship will allow us to reward our current members with promotions and shows throughout the year and help even more Americans achieve their financial dreams.”

“Macerich’s Tysons Corner Center Plaza offers high-impact community programming and a property-wide media network that delivers exceptional reach and exposure to a ready-to-spend audience,” said Jack Hsieh, President and CEO of Macerich. “As a Fortress property within our portfolio, Tysons Corner Center serves as a first-to-market destination for top brands and retailers.”

“We’re excited to rename our outdoor plaza PenFed Plaza at Tysons Corner Center,” said Petra Maruca, Senior Vice President, Business Development of Macerich. “With a robust annual programming calendar, our Plaza offers free entertainment, food tastings, fitness activities, and more, all while supporting over 20 unique, local community partners. Tysons Corner Center’s media network allows us to further amplify these community connections and engage with our local audience more effectively.”

Tysons Corner Center is a 1.8 million square foot, premier shopping center which has served as a thriving retail hub and cornerstone of the community, drawing visitors from throughout the Washington, DC region, nation, and worldwide. Each year, millions of shoppers visit Tysons Corner Center to enjoy the center’s 300+ shops and specialty restaurants.

This new sponsorship agreement will grant PenFed exclusive branding opportunities across the Tysons Corner Center campus, including a new PenFed Plaza logo, consumer marketing and media opportunities featured on static and digital signage, wayfinding elements, and presenting sponsorship of signature events held on the Plaza. PenFed members shopping at Tysons Corner Center will receive special perks like complimentary VIP seating at Plaza events.

Details of the Sponsorship

• Permanent Signage promoting PenFed Plaza at Tysons Corner Center
• Presenting Sponsorship of two annual signature events: Paws on the Plaza and the Tysons Holiday Kick-Off Celebration
• Presenting Sponsor of the Tysons Corner Center Wi-Fi network
• Content and programming offerings on a new Plaza-facing digital display

“PenFed Plaza allows us to support our community where we live and work,” said Schenck. “Tysons is a vibrant community and a place we are proud to call home. The location of our new plaza is one we are very familiar with and have used for years to gather and spend time with co-workers, family and friends.”

Terms of the agreement were not disclosed.

To learn more about PenFed, visit PenFed.org.
Social Media: @PenFed

To learn more about Tysons Corner, visit TysonsCornerCenter.com.
Social Media: @ShopTysons

About Tysons Corner Center
One of the nation’s top-performing shopping centers, the 2 million square-foot Tysons Corner Center is anchored by Bloomingdale’s, Nordstrom, Macy’s, and a 16-screen AMC Theatres. The shopping center offers more than 300 specialty stores, including popular digitally native brands, plus restaurants, and attracts more than 25 million visitors annually. To learn more, visit www.tysonscornercenter.com.

About Macerich
Macerich is a fully integrated, self-managed, 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 43 million square feet of real estate, consisting primarily of interests in 40 retail 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 Global Real Estate Sustainability Benchmark

(GRESB) ranking for the North American retail sector for ten consecutive years (2015-2024). For more information, please visit www.Macerich.com.

About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America's second-largest federal credit union, serving nearly 3 million members worldwide with over $31 billion in assets. PenFed offers market-leading certificates, checking and savings, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services, always with members' interests in mind. PenFed is federally insured by the NCUA and is an Equal Housing Lender. To learn more, visit https://www.penfed.org/about-penfed.

MACERICH MEDIA CONTACT: Arun Khosla, VP Corporate Communications, Arun.Khosla@macerich.com

PENFED CREDIT UNION MEDIA CONTACT: Kassandra Meholick, VP Corporate Communications, Kassandra.Meholick@PenFed.org

FAQ

What are the key benefits of the Macerich-PenFed sponsorship agreement for Tysons Corner Center?

The agreement enhances branding power and reach of Tysons Corner Center's marketing programs, engaging millions of shoppers annually through plaza naming rights, digital signage, and signature event sponsorships.

How will PenFed Credit Union members benefit from the MAC plaza sponsorship?

PenFed members will receive special perks including complimentary VIP seating at Plaza events and promotional offerings throughout the year.

What major events will PenFed sponsor at Tysons Corner Center under the MAC agreement?

PenFed will be the presenting sponsor of two signature events: Paws on the Plaza and the Tysons Holiday Kick-Off Celebration.

What is the size and reach of Tysons Corner Center where MAC secured the PenFed sponsorship?

Tysons Corner Center is a 1.8 million square foot premier shopping center with over 300 shops and specialty restaurants, serving the Washington, DC region and beyond.