SANTA MONICA, CA-Bob Perlmutter, the former head of Evanston, IL-based Davis Street Properties, has left his family’s firm to hire on as executive vice president of leasing for locally based Macerich. David Street is a subsidiary of Perlmutter Investment Co., led by Norman Perlmutter.
Bob Perlmutter spent 15 years in charge of ownership, management and leasing at Chicago-based Heitman Co., where Norman was formerly CEO. After leaving Heitman in 1998, Bob Perlmutter formed Davis Street.
However, in December, Davis Street sold three of its seven malls to Bloomfield Hills, MI-based Taubman Centers Inc. for $560 million. A Davis Street spokesman tells GlobeSt.com that he cannot comment on the future of Davis Street. Bob Perlmutter did not return a call for comment.
In a statement, Bob Perlmutter said he’s excited to be joining the local firm. “Macerich is well positioned to take advantage of the current retail environment and the retailer bias toward high quality centers in major markets,” he said.
Arthur Coppola, chairman and CEO of Macerich, said in the statement that his family has known Bob for more than 20 years. “The sale of the majority of the assets of Davis Street last fall opened the opportunity for him to join our executive team where he will oversee our leasing and merchandising of our malls.” Coppola said. “We are convinced he will help us mine the opportunities that exist within our portfolio as the retail climate for leasing and retail sales continue to improve.” Macerich owns a portfolio of 65 centers with about 65 million square feet.
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