The Macerich Co., the publicly traded owner and manager of Danbury Fair Mall in Danbury and manager of Cross County Shopping Center in Yonkers, said recently it has joined with a second company to buy a Missouri property for $660 million “in cash and considerations.”
California-based Macerich made the announcement in conjunction with its partner in the venture, Michigan-based Taubman Centers Inc., which also is publicly traded. Ownership is split at 50 percent each.
The seller was Highwoods Properties Inc.
The acquisition is called Country Club Plaza and is described as a “15-block, 1.3 million-square-foot mixed-use retail and office property located in the heart of Kansas City.”
The retail portion of the property includes 804,000 square feet. Active tenants include Apple, H&M, Tesla and Lululemon as well as restaurants, including The Capital Grille and The Cheesecake Factory. The 468,000-square-foot office portion of the property is comprised of the ten-story Valencia tower, which serves as the worldwide headquarters of Lockton Companies, and additional office space located above the ground-level retail.
Macerich, with headquarters in Santa Monica, said it owns 55 million square feet of space in 50 regional shopping centers.
