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SEC Filings



10-K
MACERICH CO filed this Form 10-K on 02/23/2018
Entire Document
 

Big Box and Anchors:
For the Years Ended December 31,
Avg. Base
Rent Per
Sq. Ft.(1)(2)
 
Avg. Base Rent
Per Sq. Ft. on
Leases Executed
During the Year(2)(3)
 
Number of
Leases
Executed
During
the Year
 
Avg. Base Rent
Per Sq. Ft.
on Leases Expiring
During the Year(2)(4)
 
Number of
Leases
Expiring
During
the Year
Consolidated Centers:
 
 
 
 
 
 
 
 
 
2017
$
14.13

 
$
18.19

 
24

 
$
14.85

 
21

2016
$
13.34

 
$
22.23

 
20

 
$
19.12

 
8

2015
$
12.72

 
$
19.87

 
19

 
$
8.96

 
14

2014
$
11.26

 
$
18.28

 
22

 
$
15.16

 
14

2013
$
10.94

 
$
14.61

 
29

 
$
14.08

 
21

Unconsolidated Joint Venture Centers (at the Company's pro rata share):
 
 
 
 
 
 
 
 
 
2017
$
16.87

 
$
26.33

 
15

 
$
33.25

 
8

2016
$
15.76

 
$
29.41

 
13

 
$
28.00

 
1

2015
$
14.48

 
$
33.00

 
14

 
$
9.30

 
8

2014
$
18.51

 
$
33.62

 
11

 
$
27.27

 
6

2013
$
13.36

 
$
37.45

 
22

 
$
24.58

 
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_____________________

(1)
Average base rent per square foot is based on spaces occupied as of December 31 for each of the Centers and gives effect to the terms of each lease in effect, as of such date, including any concessions, abatements and other adjustments or allowances that have been granted to the tenants.
(2)
Centers under development and redevelopment are excluded from average base rents. As a result, the leases for Fashion District Philadelphia, Paradise Valley Mall and Westside Pavilion are excluded for the years ended December 31, 2017, 2016, 2015 and 2014. The leases for Broadway Plaza are excluded for the years ended December 31, 2016, 2015, and 2014. The leases for Fashion Outlets of Niagara Falls USA and SouthPark Mall are excluded for the years ended December 31, 2015 and 2014. The leases for Paradise Valley Mall are excluded for the year ended December 31, 2013.
The leases for Cascade Mall and Northgate Mall, which were sold on January 18, 2017, are excluded for the year ended December 31, 2016. Flagstaff Mall was conveyed to the mortgage lender by a deed-in-lieu of foreclosure on July 15, 2016 and is excluded for the year ended December 31, 2015. On June 30, 2015, Great Northern Mall was conveyed to the mortgage lender by a deed-in-lieu of foreclosure and is excluded for the year ended December 31, 2014. The leases for Rotterdam Square, which was sold on January 15, 2014, are excluded for the year ended December 31, 2013.
(3)
The average base rent per square foot on leases executed during the year represents the actual rent paid on a per square foot basis during the first twelve months of the lease.
(4)
The average base rent per square foot on leases expiring during the year represents the actual rent to be paid on a per square foot basis during the final twelve months of the lease.

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