Taubman Centers, Inc. is a real estate investment trust that invests in shopping centers.
Video Taubman Centers
Investments
As of December 31, 2017, the company owned interests in of 24 shopping centers in 11 U.S. states, Puerto Rico, South Korea, and China.
The company's largest tenants include Forever 21, The Gap, H&M, L Brands, Williams-Sonoma, Urban Outfitters, Ascena Retail Group, Abercrombie & Fitch, Inditex, and Foot Locker.
Notable properties owned by the company include:
- Beverly Center - Los Angeles, California
- Cherry Creek Shopping Center - Denver, Colorado
- City Creek Center - Salt Lake City, Utah
- Country Club Plaza - Kansas City, Missouri (50/50 partnership with Macerich)
- Dolphin Mall - Miami, Florida
- Fair Oaks Mall - Fairfax, Virginia
- Great Lakes Crossing Outlets - Auburn Hills, Michigan
- International Plaza and Bay Street - Tampa, Florida
- Mall at Green Hills - Nashville, Tennessee
- The Mall at Millenia - Orlando, Florida (50% equity stake, managed by The Forbes Company)
- The Mall at Short Hills - Short Hills, New Jersey
- The Mall at University Town Center - Sarasota, Florida
- The Mall of San Juan - San Juan, Puerto Rico
- Miami Worldcenter - Miami, Florida
- Stamford Town Center - Stamford, Connecticut
- Sunvalley Shopping Center - Concord, California
- Twelve Oaks Mall - Novi, Michigan
- Waterside Shops - Naples, Florida (50% equity stake, managed by The Forbes Company)
- Westfarms Mall - Farmington, Connecticut
- North Atlanta Center - North Atlanta, Georgia (pre-development)
- Starfield Hanam - Hanam, South Korea
- CityOn.Xi'an - Xi'an, China
- CityOn.Zhengzhou - Zhengzhou, China
- The Boulevard at Studio City - Macau, China
Maps Taubman Centers
History
The company was founded in 1950 by A. Alfred Taubman.
In 1953, it opened its first shopping center, North Flint Plaza in Flint, Michigan.
In 1964, the company opened its first enclosed mall, Southland Mall in Hayward, California.
In 1973, the company was incorporated as Taubman Centers, Inc.
In 1985, the company sold Arborland Consumer Mall to Simon Property Group; the mall was torn down in 1999.
In 1987, the company sold Southridge Mall.
In 1992, the company became a public company via an initial public offering.
In 1995, the company surrendered Bellevue Center to its lender.
In 1997, the company sold Queens Center to Macerich.
In 1998, the company sold The Mall at Tuttle Crossing, Hilltop Mall, Marley Station, Meadowood Mall, Lakeforest Mall, Briarwood Mall, Stoneridge Shopping Center, The Falls Mall, and Columbus City Center to GM Pension Trust. The company continued to manage the properties until 2003 when they were sold again.
In 1999, the company sold Rockaway Townsquare to Simon Property Group.
In 2000, the company traded Lakeside Mall Rodamco for full ownership of Twelve Oaks.
In 2003, Simon Property Group attempted to acquire the company via a hostile takeover.
In 2006, the company sold Woodland Mall to Pennsylvania Real Estate Investment Trust.
In 2011, the company transferred The Pier Shops at Caesars to its lenders.
In January 2012, Regency Square in Richmond, Virginia was surrendered to creditors to avoid foreclosure.
In January 2014, the company sold Arizona Mills and land for the proposed The Mall at Oyster Bay to Simon Property Group.
In October 2014, the company sold The Mall at Partridge Creek, MacArthur Center, Northlake Mall, The Mall at Wellington Green, Stony Point Fashion Park, The Shops at Willow Bend, and Fairlane Town Center to Starwood Capital Group.
In April 2015, the founder, Alfred Taubman, died at the age of 91.
In March 2016, in a joint venture with Macerich, the company acquired Country Club Plaza in Kansas City, Missouri for $660 million.
In 2016, the company sold The Shops at Crystals to Simon Property Group.
References
Source of article : Wikipedia
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