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SEC Filings



DEF 14A
MACERICH CO filed this Form DEF 14A on 05/17/2018
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Table of Contents

Executive Summary

Business Highlights

 

 

2017 demonstrated continued strength in our operating results and portfolio metrics. As a result of our strong leadership, we continued to seize opportunities and further strengthen our Company and our growth opportunities, as evidenced by our accomplishments below:

 

Operational

  

•  Mall tenant annual sales per square foot for the portfolio increased by 4.8% to $660 for the year ended December 31, 2017 compared to $630 for the year ended December 31, 2016.

 

    

•  Same Center NOI grew 2.73%

 

    

•  FFO per diluted share was $3.83 in 2017

 

Leasing

  

•  Occupancy levels continued to be stable, ending the year at 95.0%

 

    

•  Releasing spreads for 2017 were up 15.2% from 2016

 

    

•  Average rent per square foot increased to $56.97, up 3.8% from $54.87 at December 31, 2016

 

Development and Redevelopment   

•  $250 million in-process pipeline in Philadelphia and New York

 

  

•  Kings Plaza Shopping Center $100 million redevelopment nears completion

 

Sustainability

  

Macerich is focused on sustainability as a long-term, fully-integrated business approach

 

    

•  Retail “Leader in the Light” Environmental Award for the fourth consecutive year from the National Association of Real Estate Investment Trusts

 

    

•  #1 ranking in the U.S. Retail Sector for sustainability performance for real estate portfolios around the world for the third straight year, according to scores published by Global Real Estate Sustainability Benchmark (GRESB)

 

    

•  Recipient of U.S. BREEAM in-use building certification at 11 properties

 

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