Owner Macerich Co. obtained a fixed rate of 5.48% on the new loan, which matures in October 2012. Chandler Fashion Center was acquired by the company in July as part of the firm's acquisition of Westcor, which built the property at Chandler Boulevard and Loop 101.
The mall, which opened in October 2001, is anchored by Dillard's, Nordstrom, Robinson-May and Sears, in October 2001. It currently is 99% occupied.
Macerich owns interests in 56 regional malls and 21 community centers throughout the county totaling 58 million sf. The Santa Monica, CA based firm recently won seven MAXI Awards and four MAXI Merits for outstanding community service and marketing at the International Council of Shopping Centers annual fall conference.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
