Macerich To Add Primark Stores To Retail Lineups At Tysons Corner Center And Green Acres Mall
Macerich (NYSE: MAC) announced the addition of Primark stores to Tysons Corner Center and Green Acres Mall. This expansion strengthens their partnership with Primark, which already includes four other U.S. locations. The new stores are part of a recovery strategy as leasing demand approaches pre-COVID levels, with increased shopper traffic reported. Primark is recognized for providing affordable fashion, and the new locations aim to attract more customers to Macerich's high-performing properties in key markets.
- New Primark stores will enhance Macerich's retail offerings at Tysons Corner and Green Acres Mall.
- Partnership with Primark now includes six stores, indicating strong brand performance and growth.
- Leasing demand is on pace with pre-COVID 2019 levels, showing positive market recovery.
- Increased shopper traffic and sales reported as restrictions ease in major markets.
- None.
SANTA MONICA, Calif., May 10, 2021 /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 new deals to bring Primark stores to two additional centers, Tysons Corner Center and Green Acres Mall.
These new leases further solidify Macerich's relationship with Primark, as landlord to six of the brand's U.S. stores. The four other Primark stores in Macerich's portfolio include Danbury Fair Mall (open), Freehold Raceway Mall (open), Kings Plaza (open), and Fashion District Philadelphia (a two-level flagship store on Market Street now under construction and expected to open later this year).
Leasing demand across the Macerich portfolio is on pace with pre-COVID 2019 levels, in large part due to the strength of the Company's high-quality town centers. In 2021, shopper traffic and sales are continuing to steadily rise with the loosening of restrictions within Macerich's major markets.
The two new, two-level Primark stores are set for Tysons Corner Center, Macerich's powerhouse mixed-use property in Northern Virginia just outside Washington, D.C., and Green Acres Mall, the Company's well-positioned property located where New York City meets upmarket Long Island suburbs, replacing the recently closed JCPenney.
Primark is a highly regarded international retailer known for its "Amazing Fashion at Amazing Prices," featuring clothing and accessories for women, men and kids, as well as beauty and homewares. Primark currently has 12 stores in the U.S.
Tom Meager, Group Property Director for Primark, said, "We are delighted to confirm our Tysons Corner Center and Green Acres Mall lease signings as part of our ambitious growth strategy in the United States. We've seen a great reaction to our latest U.S. openings and are excited to bring Primark's unique formula of Amazing Fashion at Amazing Prices to more customers in new locations throughout the U.S."
"Macerich is very pleased to welcome Primark to two more of our high-performing East Coast properties," said Doug Healey, Senior Executive Vice President, Leasing, Macerich. "Primark has experienced first-hand how well its brand connects with shoppers at our destination centers in New York, New Jersey and Connecticut – and we are confident that people in Center City, Philadelphia, Long Island and Northern Virginia also will gravitate to Primark's well-priced, on-trend offerings. Primark is a terrific retailer and Macerich appreciates our close and expanding relationship with this growing brand."
About Primark
Primark is an international retailer that offers the latest fashion, beauty, and homeware at the best value on the high street; put simply, Amazing Fashion at Amazing Prices. First established in Dublin in 1969, we currently have over 390 stores, with over 16.5 million square foot of selling space, across 13 countries: The Republic of Ireland, the UK, Spain, Portugal, Germany, the Netherlands, Belgium, Austria, France, the US, Italy, Slovenia and Poland. We employ over 65,000 people and last financial year (FY19/20) we opened 12 stores and created over 2,800 new jobs, receiving over 48,000 job applications.
People often ask how we can offer great products while keeping prices so low. It's because we run Primark a bit differently to other businesses. We do very little advertising, so no big TV ads. Only selling our products in-store – so no online shopping or delivery network. And always saving on the small stuff – like simple hangers and price tags to keep costs low. That means we can offer great prices while always taking care of the things that really matter. We have been working hard for many years to make sure our products are made with care and respect for workers' rights and the environment. The work of Primark's Environmental Sustainability team, made up of over 120 experts, based in key sourcing countries covers a wide range of issues from the sourcing of raw materials such as cotton, the environmental impact of manufacturing processes in factories and checking the standards we expect in our supply chain are being met. More information on Primark's ethical trade and environmental sustainability programs can be found on our website here.
About Macerich
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT), which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 50 million square feet of real estate consisting primarily of interests in 46 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence on the West Coast, and in Arizona and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for six straight years (2015 – 2020). Additional information about Macerich can be obtained from the Company's website at www.Macerich.com.
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SOURCE Macerich Company
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