Macerich's A-Quality Portfolio Continues to Draw Large-Format Entertainment Tenants

Rhea-AI Summary

Macerich announced the selection of two additional properties for Round1 Bowling & Amusement locations at Arrowhead Towne Center in Phoenix and Danbury Fair in Connecticut, enhancing its portfolio of large-format entertainment venues. Round1 joins a growing list of tenants across Macerich's properties aimed at providing diverse, engaging experiences for shoppers. This move aligns with consumer trends favoring physical entertainment spaces, supporting Macerich's strategy to attract high-quality, multi-use tenants.

Positive

• Addition of Round1 Bowling & Amusement locations increases foot traffic potential.
• Continued diversification of tenant mix enhances visitor experience and attracts a wider customer base.
• Reinforcement of Macerich's positioning in the entertainment segment aligns with current consumer trends.

Negative

• None.

-Round1 Will Open Two New Locations-

SANTA MONICA, Calif., July 12, 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 a major large-format entertainment company has selected two more Macerich properties for a new location.

Round1 Bowling & Amusement is joining Macerich's high-performing Arrowhead Towne Center in fast-growing suburban Phoenix and Danbury Fair in Connecticut.

"As our A-quality properties continue to attract a wide variety of new uses and new concepts, best-in-class, large-format entertainment companies are increasingly choosing Macerich destinations for their new locations," said Doug Healey, Senior Executive Vice President, Leasing, Macerich. "More and more, people want physical places where they can be together and have fun. We're pleased that in addition to providing great settings for shopping, dining, staying, working and living, our Regional Town Centers continue to add even more large-format entertainment experiences that shoppers crave today."

Many of these additions include first-in-the-portfolio locations. Dave & Buster's is now open at Vintage Faire, the dominant retail destination in Modesto in California's Central Valley. XLanes recently opened its first Macerich location at Fashion Fair in Fresno, California, and Pinstripes is set to open at Broadway Plaza, nestled in the East Bay community of Walnut Creek, California.

Popular large-format entertainment concepts at Macerich properties include:

Round1 Bowling & Amusement, a multi-entertainment center offering bowling, arcade games, billiards, karaoke, ping pong, darts and more. Round1 is currently operating at other Macerich properties including Deptford Mall (Deptford, New Jersey), Lakewood Center (Lakewood, California), Valley River Center (Eugene, Oregon) and Fashion District Philadelphia.

Dave & Buster's (NASDAQ: PLAY) offers an impressive selection of high-quality food and beverage items along with the latest games and attractions, including state-of-the-art simulators, games of skill and the D&B Sports Bar.

XLanes FEC (Family Entertainment Center) features everything friends and families look forward to when going out, including bowling, billiards, restaurant, bar, arcade and more.  

Pinstripes With 13 locations across the U.S., Pinstripes offers bowling, bocce and bistro, with made-from-scratch dining and signature service.

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

FAQ

What new locations did Macerich announce for Round1?

Macerich announced two new Round1 locations at Arrowhead Towne Center in Phoenix and Danbury Fair in Connecticut.

What business strategy is Macerich implementing with Round1's addition?

Macerich is diversifying its tenant mix to include large-format entertainment venues to attract more visitors.

When was the press release about new Round1 locations by Macerich issued?

The press release was issued on July 12, 2022.

How does the addition of Round1 impact Macerich's portfolio?

The addition enhances the appeal of Macerich's properties and aims to increase customer engagement and foot traffic.

What is the stock symbol for Macerich?

The stock symbol for Macerich is MAC.