Macerich Co at REITWeek: NAREIT's Investor Forum Transcript
Thank you for coming to the Macerich presentation. My name is Jim Sullivan. I'm the Senior REIT analyst at BTIG. And we have on the podium CEO Tom O'Hern; we have CFO Scott Kingsmore; and then EVP, Head of Leasing, Doug Healey. So without further ado, I'm going to ask Tom to give a brief summary of the company's statistical facts.
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Thanks, Jim. Macerich is a domestic pure-play A-quality regional mall company. We have 48 malls, approximately $14 billion total market cap, sales per foot of $750 a foot and economic sales per foot of $869. Occupancy stands at 95%. Our major geographic focus is in the Northeast, California and Arizona. We have a very robust redevelopment and development pipeline of close to $0.75 billion over the next 3 years. We plan densification of many of our centers, including mixed-use such as co-working, multi-family, entertainment and hotels.
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