San Tan Village owner optimistic about future

By Wayne Schutsky | Gilbert Sun News

The Covid-19 pandemic and associated shutdowns have hurt shopping malls across the country, but executives with Macerich see some small signs of improvement heading into 2021.

Macerich, the California-based real estate investment company that owns and operates Scottsdale Fashion Square, San Tan Village Mall in Gilbert, Superstition Springs Centers in Mesa and Chandler Fashion Center, last month held a conference call with investors and told them conditions improved between the second and third quarters this year.

Macerich said the overall occupancy rate for the company’s malls was at 91 percent – down three percent from the same time one year ago.

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