About 10 Macerich centers have Federated stores that will be closed due to duplication after that retailer's merger earlier this year with May Department Stores, said Arthur Coppola, the company's president and CEO. The vacancies will "trigger and accelerate some very exciting redevelopments and expansion opportunities," he stated.

The REIT is currently in approvals for the addition of high rises to Tysons Corner Center, in McLean, VA, as well as Washington Square in Portland, OR. The towers could have residences, offices or a combination of both. Tysons Corner is now at 2.3 million sf, after a recent 362,000-sf expansion.

Later this month an 80,000-sf lifestyle center expansion will open at Washington Square, also in Portland, bringing it to just over 1.3 million sf. In addition, Macerich executives are considering another addition at Queens Center in Elmhurst, NY, which had nearly 400,000 of additional space added last year.