Crabtree Mall

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Macerich Expands Portfolio With Crabtree Acquisition in Raleigh
ZACKS· 2025-06-25 15:51
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 ...
Macerich Acquires Market-Dominant Crabtree Mall in Raleigh, NC for $290 million
Globenewswire· 2025-06-24 11:00
Attractive Initial Yield of Approximately 11% with Upside and is Accretive to Path Forward Plan The largest mall in North Carolina's high-growth Research Triangle area at 1,346,658 square feet, Crabtree today features over 200 total tenants and is anchored by Belk and Macy's. Crabtree currently generates $429 million in annual sales, $951 in sales per square foot and over 8.7 million annual visitors. About Macerich SANTA MONICA, Calif., June 24, 2025 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE: MAC) (the ...