George Blankenship, Tesla’s VP of Worldwide Sales & Ownership Experience Volume 45 | No. 2 | Third Quarter 2012 HAPPENINGS INSIDE: Tysons Corner Center Vision | Retailer Spotlight: Interview with Tesla’s George Blankenship | Where the Stores Are Macerich Happenings | Third Quarter 2012 With our long-term partner, the Alaska Permanent Fund, we are redefining the position of Tysons Corner Center as a remarkably productive asset for many years to come. –Art Coppola, Chairman & CEO Macerich’s continued momentum at Tysons Corner Center is just one facet of the robust picture this summer for our Center Corner Tysons company and our industry. With solid fundamentals across our operations, including very strong sales and leasing trends, Macerich is able to act on a select set of big opportunities – This summer’s big news particularly our new, under-construction Fashion Outlets of – now that Washington, Chicago in addition to Tysons’ exciting mixed-used expansion. D.C.’s Metrorail Silver Line Our work at Tysons represents a once-in-a-generation is under construction – is opportunity to protect and enhance the value of this that Macerich has built extraordinary retail asset. With key entitlements and transit links now in place, Macerich has built a team of best-in-class a team with best-in-class development specialists in hotel, office and residential to help development specialists in realize our vision for a dynamic urban hub that elevates our hotel, office and residential to retail jewel. With our long-term partner, the Alaska Permanent Fund, we are redefining the position of Tysons Corner Center transform Tysons into a fully as a remarkably productive asset for many years to come. connected, transit-accessible Our sharp focus on our assets in our best markets – from community where people will Scottsdale to Santa Monica and the San Francisco Bay Area, work, shop, dine and live. from New York to Washington, D.C. and Chicago – sets Macerich apart. We are committed to continually making our Macerich’s vision for what will be one properties even better, especially when it comes to attracting the of the nation’s signature new mixed-use most talked-about retail concepts. Tesla, now open at Scottsdale communities is located in Fairfax County Fashion Square and Washington Square in the greater Portland just outside Washington, D.C., unfolding SMSA, is a terrific example of how our shopping centers always next to Tysons Corner Center and elevating help drive new ideas. one of the country’s top-performing regional malls. A long-standing powerhouse, the Best regards, retail mix draws tens of millions of visitors a year. “We’re acting on a once-in-a-generation opportunity to amplify the success of Art Coppola Tysons Corner Center by capitalizing on our retail magnet, master-planning to ensure the highest levels of quality across the board,” said Art Coppola, Chairman and Macerich Defines Development Team for Tysons Corner Center Chief Executive Officer, Macerich. “With The extraordinary vision for the site has space in Tysons Corner – with a direct valuable entitlements and the transit line in been contemplated by Macerich and long- connection by covered walkway to the new place, now is the time to start building the term investment partner, Alaska Permanent Metro station, just minutes away from infrastructure for the mixed-use future that Fund Corporation, for many years. Since Dulles International Airport and downtown will ensure the dominance of one of our Macerich became involved in 2005 with Washington, D.C. signature retail assets for decades to come.” the acquisition of Wilmorite, the two organizations have pursued a path of high- Tysons Corner Center mall attracts tens of The best-in-class, third-party development quality enhancements. millions of shoppers each year from around agreements align Macerich with hotel the world. At 2.2 million square feet, the specialist Woodbine Development Macerich as Master shopping center offers 300+ specialty shops Corporation, multifamily development Developer and restaurants, as well as a 16-screen movie company Kettler, and Hines, which will theater with IMAX. With Bloomingdale’s, manage the office development. Together Macerich is the master developer of the Lord & Taylor, Macy’s and Nordstrom, the firms will bring a high-end hotel, luxury Tysons Corner Center expansion, taking its Tysons Corner Center delivers the largest apartments, and a trophy-class office tower famed suburban real estate and maximizing concentration of retail on the East Coast within steps of one of the nation’s premier its value by transforming the property outside of New York City. Among its many shopping destinations, Tysons Corner into a multi-dimensional destination. The retail firsts are the first-ever Apple store and Center. expansion adds 1.4 million square feet of the very first Cusp from Neiman Marcus and office, residential, hotel and retail space. Microsoft’s first East Coast location. “When you look at one of the very best shopping centers in the country and then Connecting the properties will be a first-of- Taking the unusual role for a retail developer the opportunity comes along to be part of its-kind elevated outdoor plaza measuring as both owner and master developer of a a visionary, vertical development that will over an acre and a half. The plaza will act as mixed-use project of this size, Macerich bring 24/7 activity to this ideally situated a retail-friendly center court for the regional is determined to ensure the high-quality property – it’s a homerun,” said John mall, located directly outside its second level expression of every element of the Harrison, VP Development, Macerich. doors, providing an attractive and activated expansion. “We have a true vision for this “People already know and love Tysons shared venue for activities and events, such community and for this valuable property, Corner Center, it’s an established draw as a concert series, festivals, and seasonal which is why we want to own and fully guide pulling millions of shoppers in this part shows. the development of every aspect, including of the country. So making Tysons the the hotel, office, residential Further differentiating itself from the centerpiece of a dynamic new development, components and the outdoor competition is the fact that this will be ‘beyond the mall,’ if you will, is brilliant the first commercial hub – and only office Continued on pg. 4 planning.” 3 Macerich Happenings | Third Quarter 2012 Tysons Corner Center Corner Tysons Project Website Center Corner Tysons www.TysonsFuture.com Continued from pg. 3 elements at Tysons, of course with the help DEVELOPMENT TEAM of outstanding development specialists in all THIRD PARTY DEVELOPERS: KEY PROJECTS disciplines,” said Coppola. Hines, global development Dallas & Houston Gallerias; 101 North Macerich is working to achieve the experience of management company Wacker in Chicago; City Center, DC a seamless, world-class destination, where guests, Metropolitan Park in Arlington, Va.; Kettler, Inc. shoppers, residents and office workers can enjoy Midtown Bethesda North, Bethesda, Md. the highest quality amenities in a fully integrated, Hyatt Regency Dallas at Reunion Dallas; thoughtfully developed and well-managed setting. Woodbine Development Kierland Commons and Westin Hotel at Corporation Kierland Currently in pre-leasing is Tysons Tower, the 22-floor, trophy office tower that will become the tallest office ARCHITECTS/DESIGNERS: KEY PROJECTS building in Northern Virginia and offer panoramic Mirdif City Center in Dubai; City Crossing, RTKL, a global design firm views of the D.C. Metro area. The tower will include Shenzhen, China; LA Live four levels of parking, a restaurant, a sweeping two- Gensler, a global architecture, Ritz Carlton Tower, LA Live; PNC Place; story lobby and a fully equipped fitness center. Pre- design and planning firm Shanghai Tower certified by the U.S. Green Building Council for LEED Gold status, the tower incorporates a green roof, floor- Rios Clementi Hale Studios, a Nokia Plaza at LA Live; Grand Park, Los to-ceiling windows and solar shades. “We are currently multi-disciplinary design firm Angeles partnering with CBRE to target professional service 2008 Beijing Olympics Masterplan; Sasaki Associates, Inc., companies and higher-end government contract end Lincoln Memorial Reflecting Pool interdisciplinary landscape architects users, offering not only an ideal location but a superb Restoration collection of amenities,” said Tim Steffan, Senior Vice Shalom Baranes Associates, Archstone CityCenter, D.C.; Cityline at President, Property Management. a Washington, D.C.-based Tenley, D.C.; 22 West, D.C. architectural firm The entire redevelopment, including a series of OFFICE TOWER LEASING: KEY PROJECTS pedestrian walkways and bicycle paths serving the area, will open in 2014, anticipated to follow the CBRE Group, Inc., global Hess Tower in Houston; global advisor to opening of the new Metrorail. commercial real estate services firm HSBC Holdings CHANDLER FASHION EASTLAND MALL NORTHPARK MALL A Look CENTER • Zumiez • Tilly’s • Francesca’s Collections • White House | Black Market • The Art of Shaving • Pandora NORTHRIDGE MALL at What’s • Lush Fresh Handmade • Forever 21 • Zumiez Cosmetics • Soma Intimates FLATIRON CROSSING THE OAKS New • Vera Bradley • Tricked Out Accessories • Young Soles • Pandora Some of the DANBURY FAIR MALL PACIFIC VIEW • Cotton On most recent • Microsoft FREEHOLD RACEWAY MALL • The Art of Shaving • Microsoft • crazy 8 openings across • Lush Fresh Handmade Cosmetics our portfolio • Best Buy Mobile • The Art of Shaving Center, Queens Center, Scottsdale Fashion Square, The Oaks, The Shops “Where the at North Bridge and Washington Square. Stores Are” The look and feel of the new ads are customized and designed for regional Puts Brands resonance. For example, a beach scene and bare feet create the right tone for key properties in Southern Front and California while a tweed coat on a chilly wind-swept day says it all for Center Tysons Corner Center.