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Macerich's Santa Monica Place Wins Prestigious MAPIC High Street Award

SANTA MONICA, Calif., Dec. 11, 2012 /PRNewswire/ -- Macerich (NYSE:MAC) announced today that its Santa Monica Place has been selected as the Best High Street Retail Development for this year's prestigious MAPIC Awards.

(Photo: http://photos.prnewswire.com/prnh/20121211/LA19754)

The completely re-imagined property opened in August 2010, anchored by the West Coast's only SoHo concept Bloomingdale's to an innovative Nordstrom concept store and an array of the city's best shops – Burberry Brit, Hugo Boss, All Saints, Ted Baker, Tory Burch, Tiffany and Co., Louis Vuitton,and more recently, Emporio Armani, plus an entire third level dedicated to food experiences.

"We purchased Santa Monica Place recognizing its tremendous potential as one of the most well-situated retail properties in the entire United States," said Art Coppola, Chairman and CEO of Macerich. "Our vision was to completely transform this property from a traditional mall into a new destination that would maximize its near-perfect Southern California setting to appeal to the region's sophisticated locals and visitors, and of course, the world's best retailers. That's exactly what we have accomplished at Santa Monica Place."

The best high street category was open to shopping centers, retail parks, factory outlets and retailers, with private owners, cities or local authorities eligible to submit. The other two finalists in the category included a significant new shopping and cultural district in Marseille, France; and the formidable CapitaMalls' ION Orchard development in Singapore. Santa Monica Place was selected as the winner of the group, and represents a major international accomplishment for Macerich's Southern California open-air retail and dining destination, now in its second year of operation since the redevelopment.

The MAPIC Awards, now in its 17 th year, honors significant retail-oriented development projects and is held each fall in conjunction with the international market for retail real estate conference held in Cannes, France. The High Street Retail category rewards the most innovative retail real estate project located on a 'high street', or primary business/tourist district, within a city center. According to MAPIC, judges placed critical emphasis on the concept design quality, integration within the urban environment, adaptability within the community, innovative leasing mix, attraction to both locals and tourists, and the development's overall economic and social sustainability.

In 2002, Macerich teamed with The Jerde Partnership to begin replacing its 1980's era, enclosed mall with a new, urban open-air district, connected to the thriving downtown on all sides. Located just two blocks from the ocean, Santa Monica Place complements and extends Third Street Promenade providing a public plaza and is one of the few large-scale urban centers to be Gold LEED certified.

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