Macerich Adds Crayola Experience, Part Of Major Wave Of Experiential Concepts Signed In 2018

SANTA MONICA, Calif., Oct. 30, 2018 /PRNewswire/ – Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of one-of-a-kind retail properties in top markets, today announced the Crayola Experience is coming to Chandler Fashion Center in Arizona.

This 20,000 square-foot major family attraction, the first in the state and the brand's fifth nationwide, is Macerich's latest example in a wide range of new high-experience/entertainment uses across the portfolio. From Nobu and The Cayton Children's Museum to Life Time, new virtual reality, must-see art installations and more, these uses represent dozens of targeted, experience-forward new leases signed to date in 2018. Macerich is putting final touches on an active year of attracting high-experience/entertainment uses, with more leases expected to be finalized before year-end.  

"The mix at our market-leading properties is evolving to bring people more opportunities to enjoy unique, in-person experiences with an expanded focus on entertainment, food, art and fitness," said Doug Healey, Executive Vice President, Leasing, Macerich. "This growing set of immersive experiences is a strong complement to our tailored rosters of successful retail brands – both established and emerging digitally native concepts."

Among the major leases signed in 2018 by experience-forward and entertainment brands at Macerich properties are:

• The Cayton Children's Museum by ShareWell, Santa Monica Place, CA – the new home for this favorite interactive, experiential children's museum (formerly known as The Zimmer Children's Museum by ShareWell)
• Crayola Experience, Chandler Fashion Center, AZ – the state's first location for this popular family attraction blending hands-on activities and retail
• Industrious, Scottsdale Fashion Square, AZ – a new space for this co-working company as part of a multi-property rollout with Macerich
• Life Time, Broadway Plaza, CA, and Biltmore Fashion Park, AZ – the upscale, diamond-level athletic lifestyle resort will include rooftop pool and bistros
• Lime, Santa Monica Place, CA – the first lifestyle brand store for this on-demand scooter and bike concept
• Nobu, Scottsdale Fashion Square, AZ – the state's first location for this upscale, international restaurant sensation, located at the property's newly redeveloped, set apart luxury wing
• The Void, Tysons Corner Center, VA – the market's first location for this innovative virtual reality destination

Importantly, traffic-generating inline attractions around the portfolio are adding social media relevance and time-sensitive appeal. Among the breakout attractions signed in 2018 are:

• Candytopia – the social media celebrity magnet, candy-themed art + retail experience
• The Childhooding Zone by VRV – celebrating favorite cartoons from the 90s
• The Cinnamon Toast Crunch Experience – an immersive experience with one of America's favorite cereals
• Funbox – the interactive, brightly colored maze of over 20 large art installations celebrating toys and other childhood favorites
• Hair Cuttery pop up – an attention-getting, Instagrammable hair styling exhibit from the popular salon concept

"This has been a great year for bringing entertainment and other exciting new uses to Macerich properties," said Ken Volk, Senior Vice President, Business Development, Macerich. "In addition to this wide scope of incredible names, by year-end we expect to complete more than a dozen new leases for everything from large-format, interactive game/food concepts and theaters to new twists on performance art. The experience-forward mix at Macerich's high-performing properties is current, it's exciting and it's adding important traffic and energy."

About Macerich

Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.

Macerich currently owns 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor.

A recognized leader in sustainability, Macerich has earned NAREIT's prestigious "Leader in the Light" award every year from 2014-2017. For the third straight year in 2017 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments. Additional information about Macerich can be obtained from the Company's website at www.macerich.com

SOURCE Macerich Company

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