Macerich Expands Portfolio With Crabtree Acquisition in Raleigh

Key Takeaways MAC acquired Crabtree Mall, a 1.3M sq. ft. retail hub in Raleigh, NC, for $290M to boost portfolio strength. The mall draws 8.7M annual visitors and $429M in sales, aiding MAC's leasing and NOI accretion goals. MAC plans to invest $60M in redevelopment to drive performance and leasing momentum at the center.The Macerich Company (MAC) recently announced the buyout of Crabtree Mall, a Class A retail center spanning roughly 1.3 million square feet in Raleigh, NC, for $290 million. The acquisiti ...