From the Wires
Macerich's Santa Monica Place Wins Prestigious MAPIC High Street Award
By: PR Newswire
Dec. 11, 2012 05:15 AM
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.
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 17th 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.
"MAPIC is a long-standing and important event in the retail real estate industry, and for Santa Monica Place, a project we are very proud of, to win this category speaks volumes for the true sense of place that Macerich has created for the city," says David Rogers FAIA, Jerde co-design director and principal designer for Santa Monica Place.
Macerich 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. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.
About The Jerde Partnership
The Jerde Partnership is a visionary architecture and urban design firm that creates places to deliver memorable experiences for people. To date, Jerde Places attract over 1 billion people annually. Founded in 1977, the firm has pioneered "Jerde Placemaking" throughout the world with projects that provide lasting social, cultural and economic value and promote further investment and revitalization. Based in a design studio in Los Angeles with project offices in Shanghai, Hong Kong, and Seoul, Jerde takes a signature, co-creative approach to design and collaborates with private developers, city officials, specialty designers and local executive architects to realize the vision of each project. The firm has received critical acclaim from the American Institute of Architects, Progressive Architecture, American Planning Association, and The Chicago Athenaeum Museum of Architecture and Design. To date, over 100 Jerde Places have opened in diverse cities, including Atlanta, Budapest, Hong Kong, Istanbul, Las Vegas, Los Angeles, Osaka, Rotterdam, Seoul, Shanghai, Tokyo and Warsaw. For more information, please visit www.jerde.com.
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