First Quarter 2013 Jeff Gaul

Home , Freehold Raceway Mall, Kings Plaza, Wilton Mall

Jeff Gaul Chico’s SVP of Real Estate

A Look at What’s New

Some of the most recent openings across our portfolio

Arden Fair Pacific View • Crocs • Forever Beauty • Seasons 52 Paradise Arrowhead Valley Mall Towne Center • Test America • Call It Spring • Panda Express • Flip Flop Shop SanTan Macerich is taking a bigger impressive set of regional malls in the Biltmore Village dynamic Tri-State Area of New York, New Fashion Park • Box Office bite of the Big Apple. The Jersey and Connecticut. • Julia Baker Santa Confections company recently completed “What’s exciting are the incredible Monica Place opportunities we see to heighten Chandler • Redwood Grille acquisitions of two, high- Fashion • The Art of Shaving the merchandise mix and shopping Center • Camper performing super regional experience at Kings Plaza and Green Acres • JR Burger Grill • Kate Spade malls: Kings Plaza in Brooklyn Mall,” said Tim Steffan, SVP, Property Management for Macerich. “Not only does Freehold South Towne and Green Acres Mall in this fit with our investment strategy of Raceway Mall Center acquiring properties in markets where we • Piercing Pagoda • Coyote’s Express Valley Stream. Both are already have some of our best assets, but it • Prezel Time / Mr • Bobby’s Burger also is right in line with what we do best: Palace Bigs exceptionally well-positioned taking good properties and making them Great Southridge in one of the most attractive great.” Northern Mall markets in the country – Mall • GNC Kings Plaza – the only enclosed super • University Sports greater New York City. regional mall in Brooklyn – is anchored Shop Stonewood by Macy’s, Lowe’s and Sears with a tenant Center With superb locations in densely lineup within 1.2 million square feet that Green Acres • Blends Soft-Serve populated areas of Brooklyn and along the includes Aeropostale, American Eagle, • Creations Mall Queens/Nassau County border, both long- Armani Exchange, Forever 21, H&M, Prinkipia • Vista Site Eye Care established properties are more than 94% • Coffee & Tea Pink, Swarovski and Victoria’s Secret. Kings Plaza Room occupied and consistently draw dedicated Green Acres Mall boasts a wide-ranging • Auntie Anne’s • Call It Spring shoppers. These two properties add even • Perfume Point II more depth and potential to Macerich’s set of anchors, including Macy’s and Towne Mall Lake Square • Auntie Anne’s Mall • Rumors Diner Twenty Ninth Street Lakewood • Zayo Group Center • The Vitamin Tysons Shoppe Corner • Panda Express Center • The Sweet Factory • Call It Spring • le Pain Quotidien The oaks • Stacked Food Westside Well Built Pavilion • We Olive • Frida Tacos • Making Meaning • Teavana • Spencer Gifts Wilton Mall • Healthy Living Market & Café Macerich in an East Coast State of Mind

Macy’s Men’s/Furniture Gallery, Sears, the Macerich family,” said Joe Floccari, fairs and citizenship outreach to a toy Kohl’s, jcpenney, BJ’s Wholesale Club and who has guided Green Acres as property drive for kids affected by Hurricane Sandy Walmart. The 1.8 million square foot super- manager for more than four years. “There and a partnership with Operation PROM regional mall also features a solid roster are tremendous similarities among Green benefiting local teens – Queens Center has of specialty stores with Old Navy, Express, Acres, Kings Plaza and Queens Center, the pulse of its trade area. Forever 21, H&M, Charlotte Russe and which Macerich acquired in the 1990s many more. and transformed into the real powerhouse This true understanding of the community it is today. It’s clear that the company translates into a dynamic merchandise Brooklyn Bound understands New York City shoppers and mix that succeeds. “We know our shoppers what makes for a super-successful regional inside and out – what they care about, Elevating the positioning of well-placed mall in this specific market – which is so where they shop and where they would properties is a demonstrated Macerich unlike anyplace else in the country because like to shop,” said Dawn Simon, Senior specialty – particularly when the malls of our remarkable density and diversity.” Marketing Manager for Queens Center. already are at the center of everything. “Last year we added some great new names “It’s the right place and the right time for Understanding Queens that really resonate with our shoppers, Kings Plaza,” said Daryl Finn, Property including Michael Kors, Pandora, Solstice, Manager at Kings Plaza for the past five Behind the continued retail success of Chipotle, the renovated and expanded H&M years. “Hundreds of buses stop at our front Queens Center – consistently one of the and an expanded Disney Store, and 2013 door every day and we’re just a mile from highest-performing regional malls in the promises even more exciting new retail.” the Belt Parkway. Brooklyn has seen a real Macerich portfolio – is a real connection At Atlas Park, the lifestyle center just 1.8 renaissance over the last few years and there with its community. Diverse, vibrant and miles south of Queens Center, some small are exciting times ahead for the Borough. urban, the Queens community is a rich slice changes are underway that could yield big We see Kings Plaza being part of this of big-city America, and the mall’s extensive benefits. This month, the property kicks off emerging new identity.” and long-standing community outreach targeted updates including new exterior efforts are a match for local interests. With Clearly, Green Acres also is the place dozens of social involvements – from job to be. “We are so pleased to be joining Continued to pg. 4 oss County Shopping Center, Yonkers, New York Yonkers, Shopping Center, oss County Cr Connecticut Danbury, Da nbury Fair, Macerich Happenings | First Quarter 2013

Continued From pg. 3 At Danbury Fair, where the average as does our property’s strong sales household earns more than $134,000, performance.” signage to enhance the property’s identity new retail often means show-stopping along high-traffic Cooper Avenue. events that draw big crowds. This summer, Deptford Mall, also in New Jersey, but part Microsoft opened its new retail concept of suburban Philadelphia, is another strong Cross County’s Cinderella Story at the property with a visit from former family center that is pleasing its shoppers New York Giants star Michael Strahan, a with appealing retail and spot-on amenities. Perfectly located between Manhattan and performance by a local rock band and a These include a new feature elevator – just upscale Westchester County, Cross County high-impact charitable tie-in with Junior right for big strollers – and more and better Shopping Center in Yonkers has blossomed Achievement. When L.L.Bean opened this escalators. As well, a new Red Robin is into a storybook example of retail success. summer, the iconic Maine-based retailer bringing added energy to the second level In 2011, the property completed a major turned the enclosed property into its own near Boscov’s department store. repositioning project that set the stage version of the great outdoors with life-like In upstate New York, a smart for the extensive re-merchandising that graphics, a wildlife trainer and animals and transformation of the former jcpenney continues to draw new shoppers today. “We its eye-popping boot-mobile. elevated the look and feel of our property, location at Wilton Mall in Saratoga Springs added great new retailers and restaurants, “Our success to date in attracting some of will bring a Healthy Living Market and Café new amenities and exciting events. As a the world’s top brands is just the tip of the to this family-centric property in 2013. Only result, we are drawing different customers iceberg,” said Maura Ruby, Senior Property the second location for this Burlington, – including affluent shoppers from Manager of Danbury Fair, which completed Vermont-based grocery concept, the new Westchester,” said Liz Pollack, Senior a significant renovation and addition in market/cafe will bring more daily use Marketing Manager for Cross County 2011. “We look forward to opening new shoppers to the mall, as will the new Planet Shopping Center. Disney and Lego stores here in 2013, as Fitness in the same anchor space. Continuing the property’s exciting growth we continue to add more and better retail Reaching from the city to the suburbs to trajectory, construction is set to begin in concepts seeking to tap into our highly small towns upstate, Macerich’s collection first quarter on a new 155-room, 8-story desirable shopper demographics.” of New York-area properties has become a hotel, which is a conversion from an tour de force. existing office tower. Cross County also is In Freehold, Macerich’s regional mall is another understated powerhouse, with adding more restaurant uses inside and “Macerich’s expanded presence in the both Apple and Microsoft, Nordstrom and outside the center, and new stores including Tri-State Area means more opportunity a growing set of specialty store attractions. Kids Foot Locker, SIX accessories, Garage to elevate strong properties into even “Shoppers in this part of New Jersey are and more. higher performers,” said Doug Healey, terrific consumers – well-educated, brand- SVP, Leasing for Macerich. “Whether it’s savvy, tech-conscious families who enjoy re-thinking the merchandise mix and the Suburban Strength dining out and having fun,” said Deb positioning of our new urban properties, Panzarella, Senior Marketing Manager of Set in two of New York City’s most or refining the offerings at market-leading Freehold Raceway Mall. “Last year, we added attractive suburban areas are Danbury Fair, suburban destinations, our approach Vera Bradley, LUSH, Brio Tuscan Grille in Danbury, Connecticut, and Freehold to our growing set of New York-area and Bobby’s Burger Palace, Bobby Flay’s Raceway Mall in Freehold, New Jersey. Both malls is tailored to optimize the appeal celebrated burger concept. These exciting are magnets for enticing new stores chosen and performance of each of these great new names mean great momentum, for the properties’ increasingly sophisticated properties.” shoppers. hopping Center, Brooklyn, New York Kings Plaza S hopping Center, Partnering for Top Performance Meet Chris Facas and Tim Steffan, SVPs of Property Management

Whether it’s sharing local – to ensure property managers become said Steffan. “We want our property local leaders who look for opportunities managers to also look at the whole pie, not market insights with retailers that bring value to the property and greater just one slice at a time.” success to retailers. or helping cities to better A growing focus for Macerich property understand the evolving retail This forward-thinking perspective draws on management is ensuring that shopping nearly 25 years in the real estate industry environments are in sync with how landscape, Macerich property for both Facas and Steffan. Both also have shoppers live now – the increasing managers are empowered strong tenures at Macerich; Facas has been demands on their time, their hunger for with the company for more than 13 years satisfying, social experiences and their and inspired to move their and Steffan joined in 2006. intensified reliance on technology to create convenience. malls forward. Just like multi- “We want property managers to think not tasking shoppers and retailers, just inside the ring road, but outside as “Retailers are constantly fine-tuning well,” said Facas. “At Macerich, property how they operate and we work hard to today’s accomplished property managers really are real estate managers understand what drives their business. who need to be fluent in leasing, peripheral That’s why we also are always reviewing managers need to be doing development, other income sources and the our key processes, in everything from many things exceptionally well, local competitive climate. The goal is to be maintenance to concierge,” said Facas. Fast- able to recognize opportunities and be able moving technology means systems rarely often at the same time. to act on them quickly,” he added. stay in the “done” column.

This fast-moving “think-do” model for Even the close partnership between the two Shaping shopping environments to deliver property management is exactly what SVPs – who together have headed property more of what customers say they want -- Macerich’s two property management management at Macerich for about two more efficiently, more engagingly -- is the leaders, Senior Vice Presidents Chris Facas years – is structured with the same “think- continuous improvement metric Facas and and Tim Steffan, are fostering today. do” approach in mind: To be flexible enough Steffan ask their on-property professionals to take advantage of every new opportunity to focus on every day. This empowered “We’re putting thoughtful executives on the while ensuring world-class operations as the local leadership makes a big difference for ground,” said Steffan, describing the very baseline. Macerich, and for making sure properties opposite of the industry stereotype, the by- connect with retailers and shoppers. Said the-book property manager who checks tab Although geographically split, there are no Facas, “As much as we can, we B in the 3-ring binder before deciding how territorial boundaries between Facas and say, ‘It’s your real estate. Tell us to polish the floor. Instead, he and Facas Steffan, which brings a powerful element to what you need to succeed. Now are using their own unique partnership – a their partnership. “Chris and I believe that take it to the next level.’” fluid, trust-based, common-goal relationship looking at the full picture is what matters,” 5 Macerich Happenings | First Quarter 2013

Chico’s An Interview with Chico’s Senior Vice President of Real Estate

Chico’s FAS and its sharply We are planning some very exciting ways customers and we care about maintaining to celebrate our 30th birthday with our real relationships with our shoppers defined set of retail brands – shoppers – in our stores and elsewhere. because we know this is important to them. Chico’s, White House | Black This year promises to be a very special one. Our associates know their customers’ birthdays and anniversaries, what they Market, Soma and most Q: Let’s talk more about the Chico’s like to buy with us, and when something shopper. new comes in that they will love, we’re recently, Boston Proper – is sure to let them know. Customer service A: The Chico’s shopper is higher-income, is definitely a differentiator for us. Of growing in step with one of 35+ and interested both in fashion and course this all started with Chico’s, but this in having a real relationship with us. We the country’s most attractive approach carries through all our company’s take these relationships very seriously – retail brands. demographics, upscale women through the amazing customer service over 30. This year Chico’s itself our associates consistently deliver and Q: How are your four concepts different through our loyalty programs. This is an and what do they have in common? turns 30 and the Florida-based underserved market and it’s one of the fastest-growing demographics that exist A: While all the brands cater to women retail powerhouse is just hitting in the country right now. Frankly there are 35 and up, each is very different. I like to its prime. very few specialty retailers that serve this say we keep our shipping lanes very clear. niche and we think we do it better than You’ll never find the same merchandise Happenings had a great conversation with anyone. at our various stores and in fact lots of Jeff Gaul, Chico’s SVP of Real Estate, on customers don’t even realize that Chico’s the brand’s big birthday and what’s ahead Q: Chico’s is known for its high level of and White House | Black Market are for this energetic company that continues customer service. How is this incorporated owned by the same company. Let’s start to grow – and grow up. into your brand? with Chico’s – this concept provides full wardrobing for our shopper, who is fun A: Outstanding personal service really Q: Chico’s is turning the big 3-0 – just like and unique and loves color and vibrant is built into the DNA of all our brands. the women who shop your iconic brand. prints. Chico’s offers most everything Unlike some of our competitors during the she needs, from comfortable collections A: It’s true we focus on women in their recession, we were not willing to cut the perfect for travel to wear to work to special 30s and above, and now our company number of our sales associates. We want occasion and more. The White House also has reached this great milestone. our stores to be fun sanctuaries for our

TODAY Show Takeover at Santa Monica Place

Santa Monica Place, the one-of-a-kind, open-air shopping to n and dining destination located next to Third Street lifornia Property Promenade and just two blocks from the beach, welcomed Ca So uthern TODAY’s Kathie Lee Gifford and Hoda Kotb in early Br ing Daytime Fu February for the duo’s exciting West Coast broadcasts. Si gnature Five shows were taped in front of a live audience at Santa Monica Place and aired on the Fourth Hour of TODAY the week of Feb.11-15. Macerich’s Ka thie Lee and Ho da | Black Market customer trends a little A: We absolutely are focused on new Q: What are your specific plans for new younger and is more contemporary. She stores. We strongly believe that our boutiques across your brands this year? loves fashion. The WHBM customer loves customers get the best experience about that we are trend right, but not trendy. everything we have to offer inside our A: We are excited to be expanding coast to Soma has a broader demographic and our boutiques, with our outstanding sales coast. We’re looking at all the emerging approach to top-level service is perfect for associates serving as their personal markets where growth is happening. We the intimate apparel customer, who wants stylists. Our shoppers want instant opened more than 100 new locations both beautiful merchandise, exquisite feedback and the fun atmosphere that you across Chico’s, WHBM & Soma in 2012, quality and knowledgeable service she just can’t get online. Of course we are an in addition to relocations and expansions. trusts. Building Boston Proper – a omnichannel retailer, but we believe so We will be very busy in 2013 as well – distinctive, more daring approach with a much in the in-store experience that we the plan is to open more than 130 new modern twist for this same demographic recently bought an online/catalog-only locations across the portfolio. We have – will draw on our experience with these retailer, Boston Proper, and are taking it to had great success in smaller markets as other brands. bricks-and-mortar. well as traditional major metros.

Q: How do you make the real estate This year we are excited to introduce the Q: You’ve worked for some of the best decisions for each? first Boston Proper stores, which will be retailers anywhere – GAP and Limited in Florida close to our headquarters, so we among them. How does your prior A: Because we really have fostered three can fine-tune this concept and make sure experience inform what you do in your distinct brands, our stores are not typically it succeeds from the get-go. current role for Chico’s? lined up next to one another like soldiers, although you often find them nearby in Q: What is your approach to outlets? A: I have a passion for retail and I really the same retail setting. A perfect example think about what shoppers do and how is Macerich’s Kierland Commons in A: We like outlets and our outlet portfolio they behave. I can look at a mom, see what Phoenix, where all three of our current is growing for each of the brands. Our she’s wearing and what kind of stroller bricks-and-mortar brands do very well. approach is a little different because we she’s pushing, and tell you a great deal staff our outlet stores much as we do about what matters to her. I have had Q: Based on your plans for 2013 and our boutiques, which helps introduce the privilege of working for some of the beyond, new stores represent an important customers to our brand and our higher best specialty retailers in the world and area of growth for your company. Let’s level of service. all of this helps me bring Chico’s FAS talk about this. customers their favorite stores in locations that fit their lifestyles perfectly.

“We can’t think of a better setting than Santa Monica Place for • A cooking demonstration with noted chef Richard Sandoval, TODAY to showcase Southern California to its national audience,” whose restaurants La Sandia and Zengo are part of the property’s said Ken Volk, Chief Marketing Officer for Macerich “With its iconic Dining Deck gorgeous views of the ocean, the city and the Santa Monica • A wine segment featuring local wines under $15 with The Mountains – plus some of the best stores and restaurants in Los Market’s owners Molly & Susan Brink Angeles – Santa Monica Place is a wonderful way for people around • A head-to-toe “Frumpy to Fabulous” makeover by Bloomingdale’s the country to experience what makes the California lifestyle so to n special.” • Daily cocktails from on site restaurants True Food Kitchen,

lifornia Property M.A.K.E. Raw Cuisine and more

Ca With Valentine’s Day in mind, the team at Santa Monica Place worked with TODAY show producers to merchandise segments On-mall events, coupled with national publicity of including: Santa Monica Place’s unique offerings, made a positive So uthern Br ing Daytime Fu • Gift ideas from national and local retailers Bloomingdale’s, impact on the center. Retailers and restaurants reported Marbles: The Brain Store, Aveda, Kitson, and Venokado an increase in sales and activity, directly attributed to

Si gnature the duo’s West Coast visit. • A look at lingerie, loungewear, and intimate apparel fashions from Nordstrom, Juicy Couture, and Free People Macerich’s Ka thie Lee and Ho da 7 Macerich Happenings | First Quarter 2013

It’s a Natural

New National Geographic Kids mean just-right kids’ activities that inspire of National Geographic Books, Kids and kids to explore the world around them. Family. “This new partnership helps us Partnership Brings More Fun reach children and families where they and Learning to Macerich Kids Warming up with a Polar Party in January, already spend lots of time — their favorite the program will dig into Dinosaurs this malls.” Clubs Across the Country spring to start off a year of fun facts and activities about everything from oceans and The National Geographic Society has been Macerich’s innovative partnership with animals to energy and outer space. inspiring people to care about the planet National Geographic Kids is bringing a since 1888 and is celebrating its 125th world of creativity and fun, educational “Special experiences are an important part Anniversary this year. National Geographic activities to Kids Club programs at more of what our regional malls offer, and our Kids inspires young adventurers to than 40 Macerich shopping centers around new partner, the famed National Geographic explore the world through award-winning the country. Society, heightens the inspiration quotient magazines, books, apps, games, toys, for even our youngest guests and their videos, events and a website, and is the While Kids Club programs have been families,” said Ken Volk, Chief Marketing only kids brand with a world-class scientific an important part of the experience Officer for Macerich. “This respected, organization at its core. at Macerich malls for many years, the trusted brand is not only a natural fit for our long-term partnership between National Kids Club, but one that will have a positive “National Geographic Kids complements Geographic Kids and Macerich means impact on the performance of our retailers the other great brands we deliver and is one shoppers with young families can count and properties.” more reason local families want to visit our on Macerich properties for high quality, malls and stay longer,” said Melissa Buxton, engaging Kids Club programs that help “National Geographic Kids is all about Senior Marketing Manager, SanTan Village youngsters explore their world. Designed to getting kids excited about the world around and Superstition Springs Center. “Names appeal to a key shopper demographic – the them, and this partnership is another matter – and now our kids clubs promise moms who come to Macerich properties fantastic way to reach kids with our awe- the same high quality as our stores and for the strong collections of outstanding inspiring photography, fascinating Weird restaurants. We know our shoppers value brands – this new partnership delivers yet but True trivia, and fun pictures and stories this appealing mix of hands-on experiences, another exceptional brand. The reputation of animals,” said Melina Bellows, executive which elevates our already fabulous and resources of National Geographic Kids vice president and chief creative officer shopping environments.”

401 Wilshire Boulevard, Suite 700 Santa Monica, CA 90401-1452 310.394.6000 Receive Happenings Via Email: [email protected] Happenings is now available on iPad. www.macerich.com Visit the App Store to download the NYSE: MAC Happenings Magazine App.