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United States: Macerich malls average rent 2017-2020, per square foot

Published by Statista Research Department, May 11, 2021
In 2020, the average base rent of mall stores and freestanding stores under 10,000 square feet owned by Macerich reached 59.63 U.S. dollars per square foot. In contrast, the average base rent for the company's joint ventures malls stood at 66.34 U.S. dollars.
Macerich is an American real estate investment trust that invests in shopping centers. As of December 2020, the company owned or had an ownership interest in 52 regional and community/power shopping centers consisting of approximately 50 million square feet of gross leasable area.

Average base rent per square foot of mall and freestanding stores owned or partly owned by Macerich in the United States from 2017 to 2020 (in U.S. dollars)

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Source

Release date

April 2021

Region

United States

Survey time period

2020

Special properties

stores under 10,000 square feet

Supplementary notes

The source includes the following notes:
1. 'Average base rent per square foot is based on spaces occupied as of December 31 for each of the Centers and gives effect to the terms of each lease in effect, as of such date, including any concessions, abatements and other adjustments or allowances that have been granted to the tenants.'
2. 'Centers under development and redevelopment are excluded from average base rents. As a result, the leases for Fashion District Philadelphia, Paradise Valley Mall and One Westside are excluded for the years ended December 31, 2020, 2019, 2018, and 2017.'

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