November 24, 2024 9:10 am
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Phoenix mall owner sees uptick in new leases during Q3

By Brandon Brown | Phoenix Business Journal

While brick-and-mortar retail was one of the industries hit the hardest during the Covid-19 pandemic, the owner of several shopping malls in the Phoenix area expressed optimism when looking ahead to the holiday shopping season and next year due to pent-up customer demand.

Macerich Co. (NYSE: MAC), which owns such malls as Scottsdale Fashion Square, Kierland Commons, Biltmore Fashion Park, Arrowhead Towne Center and Chandler Fashion Center, said it has started to see improvements in signing new tenants and has set high expectations for the holiday shopping season.

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