Taubman Centers, Inc. is an American

real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

headquartered in

Bloomfield Hills, Michigan Bloomfield Hills is a city in Oakland County, Michigan, Oakland County in the U.S. state of Michigan. A northern Metro Detroit, suburb of Detroit on the Woodward Corridor, Bloomfield Hills is located roughly northwest of downtown Detroit, and is ...

. The company invests in shopping centers, and is a subsidiary of

Simon Property Group Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indian ...

since 2020.

History

The company was founded in 1950 by

A. Alfred Taubman Adolph Alfred "Al" Taubman (January 31, 1924 – April 17, 2015) was an American businessman, investor, and philanthropist. In 2002, he was convicted for a price-fixing scheme involving the top two auction houses in the United States. Early li ...

. In 1953, it opened its first shopping center, North Flint Plaza, in

Flint, Michigan Flint is the largest city in Genesee County, Michigan, United States, and its county seat. Located along the Flint River (Michigan), Flint River northwest of Detroit, it is a principal city within the Central Michigan, Mid Michigan region. Flin ...

. In 1964, the company opened its first enclosed mall, Southland Mall, in

Hayward, California Hayward is a city located in Alameda County, California, United States, in the East Bay subregion of the San Francisco Bay Area. With a population of 162,954 as of 2020, Hayward is the sixth largest city in the Bay Area, and the third largest in ...

. In 1973, the company was incorporated as Taubman Centers, Inc. In 1987, the company sold Southridge Mall, in

Milwaukee County Milwaukee County () is a county located in the U.S. state of Wisconsin. At the 2020 census, the population was 939,489, down from 947,735 in 2010. It is both the most populous and most densely populated county in Wisconsin, containing about 1 ...

Wisconsin Wisconsin ( ) is a U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest of the United States. It borders Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michig ...

. In 1992, the company became a

public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

. In 1997, the company sold

Queens Center Queens Center Mall is an urban shopping mall in Elmhurst, Queens, Elmhurst, Queens, New York City, on Queens Boulevard between 57th Avenue and Woodhaven Boulevard, one block away from Queens Place Mall. Queens Center Mall is the largest mall in ...

Macerich The Macerich Company ( ) is a real estate investment trust that invests in shopping centers. It is the third-largest owner and operator of shopping centers in the United States. As of December 31, 2020, the company owned interests in 52 propert ...

. In 1998, the company sold The Mall at Tuttle Crossing,

Hilltop Mall Hilltop Mall is a defunct regional shopping center in the Hilltop neighborhood of Richmond, California. Hilltop was managed and co-owned by Prologis, Inc. The only anchor store left is Walmart. There are 3 vacant anchor stores that were once ...

Marley Station Marley Station Mall is an enclosed shopping mall in Glen Burnie, Maryland. Opened in 1987, it was expanded in 1994 and 1996. The mall had 130 stores on 2 floors, a movie theater, and 5 anchor spaces. Macy's, and Golds Gym serve as the mall's curr ...

Meadowood Mall Meadowood Mall is a one-level, super-regional mall in Reno, Nevada, managed by Simon Property Group, which owns 50% of it. Meadowood Mall contains 125 retailers and restaurants and it is anchored by Macy's, Macy's Women, Macy's, Macy's Men/Home, ...

Lakeforest Mall Lakeforest Mall, formally the Lakeforest Regional Mall, also known as Lakeforest, is an abandoned enclosed shopping mall located in Gaithersburg, Maryland. The property is currently owned by WRS Inc. Real Estate Investments who is planning to ...

Briarwood Mall Briarwood Mall is a shopping mall in Ann Arbor, Michigan, United States. The mall's three anchor stores are Macy's North, Macy's, JCPenney, and Von Maur. Surrounded by office and other development, the mall anchors the southern Ann Arbor comme ...

Stoneridge Shopping Center Stoneridge Shopping Center is an upscale major shopping mall in Pleasanton, California. The mall is managed and co-owned by Simon Property Group, and is adjacent to Interstate 680. The mall features JCPenney and Macy's and Macy's Women's Stor ...

, The Falls Mall, and

Columbus City Center Columbus City Center (known locally as City Center) was a , three-level shopping mall in Columbus, Ohio. It was located in the city's Downtown Columbus, Ohio, downtown, near the Ohio Statehouse, next to the Ohio Theatre (Columbus), Ohio Theatre, ...

to GM Pension Trust. The company continued to manage the properties until 2003 when they were sold again. In 2000, the company traded

Lakeside Mall Lakeside Mall was a super-regional shopping mall in Sterling Heights, Michigan. Located on the M-59 commercial corridor, the mall is currently anchored by JCPenney, with four vacant anchor stores previously occupied by Macy's (two of each), Lor ...

Rodamco for full ownership of Twelve Oaks. In 2003, Simon Property Group attempted to acquire the company via a hostile takeover. In 2011, the company transferred The Pier Shops at Caesars to its lenders. In January 2012, Regency Square in

Richmond, Virginia Richmond ( ) is the List of capitals in the United States, capital city of the Commonwealth (U.S. state), U.S. commonwealth of Virginia. Incorporated in 1742, Richmond has been an independent city (United States), independent city since 1871. ...

, was surrendered to creditors to avoid foreclosure. In January 2014, the company sold Arizona Mills and land for the proposed The Mall at Oyster Bay to Simon Property Group. In October 2014, the company sold The Mall at Partridge Creek,

MacArthur Center MacArthur Center is a shopping mall in Norfolk, Virginia, United States, in the center of the Hampton Roads metropolitan area. Built by the Taubman Company, the mall is owned by S.L. Nusbaum Realty since August 2023. The mall is adjacent to th ...

, Northlake Mall, The Mall at Wellington Green, Stony Point Fashion Park, The Shops at Willow Bend, and Fairlane Town Center to

Starwood Capital Group Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. It is managed by Barry Sternlicht. It was co-founded by Sternlicht and Robert Faith in 1991. In 1993, Faith left Starwood to found Greystar Real Estate Partn ...

. In April 2015, the founder, Alfred Taubman, died at the age of 91. In March 2016, in a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

with

, the company acquired

Country Club Plaza The Country Club Plaza (often called The Plaza) is a privately owned regional shopping center in the Country Club District of Kansas City, Missouri, Kansas City, Missouri. Opened in 1923, it is considered to be the first planned large outdoor su ...

Kansas City, Missouri Kansas City, Missouri, abbreviated KC or KCMO, is the largest city in the U.S. state of Missouri by List of cities in Missouri, population and area. The city lies within Jackson County, Missouri, Jackson, Clay County, Missouri, Clay, and Pl ...

, for $660 million. In October 2020, Taubman sold

Stamford Town Center Stamford Town Center is an urban shopping mall located in Downtown Stamford, Downtown Stamford, Connecticut. The mall is the eighth largest in Connecticut, with space for about 130 stores and restaurants. The mall's three anchors are a Macy's, ...

for $20 million. In April 2024, Olshan Properties took ownership of Fair Oaks Mall from Taubman, securing long-term extension. In July 2024, the company along with Macerich sold

Dallas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...

-based HP Village Partners. In February 2020, the company agreed to be acquired by

. This would have ended family control but the Taubman family will retain an ownership stake in its malls. In June 2020, Simon announced that it terminated the merger agreement with Taubman, before reversing its decision and modifying certain terms of the original merger agreement, including a modified purchase price of $43.00 per share in cash in November 2020. The merger closed in December 2020.

Investments

As of September 2024, the company owned interests in 22 shopping centers in 9 U.S. states, Puerto Rico, South Korea, and China. The company's largest tenants include

Forever 21 F21 OpCo LLC, trade name, doing business as Forever 21, was a multinational fast-fashion retailer. It was originally founded as Fashion 21 in Highland Park, Los Angeles, Highland Park, Los Angeles in 1984.Forever 21History & Facts, n.d. Retrieved ...

, The Gap, H&M,

L Brands Bath & Body Works, Inc. (formerly known as L Brands, Inc., Limited Brands, Inc. and The Limited, Inc.) is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was ...

Williams Sonoma Williams Sonoma is an American retailer of cookware, appliances, and home furnishings. It is owned by Williams-Sonoma, Inc. and was founded by Chuck Williams (author), Charles E. (Chuck) Williams in 1956. History In 1947, Chuck Williams settle ...

Urban Outfitters Urban Outfitters, Inc. (URBN) is a multinational lifestyle retail corporation headquartered in Philadelphia, Pennsylvania. Operating in the United States, the United Kingdom, Canada, select Western European countries, Poland, the United Arab Em ...

Ascena Retail Group Ascena Retail Group, Inc. was an American retailer of women's clothing. Ascena also owns Lane Bryant clothing store brand, and is the parent company of Ann Inc., operator of Ann Taylor and Loft stores. In 2023 the remaining brands of Ascena wer ...

Abercrombie & Fitch Abercrombie & Fitch Co. (A&F) is an American lifestyle store, lifestyle retailer, founded in 1892 which focuses on contemporary clothing targeting customers in their early 20's to mid 40's. Headquartered in New Albany, Ohio, the company operate ...

Inditex Industria de Diseño Textil, S.A. (Inditex; , ; ) is a Spanish multinational clothing company headquartered in Arteixo, Galicia, Spain. The largest fast fashion group in the world, it operates over 7,200 stores in 93 markets worldwide. The compa ...

, and

Foot Locker Foot Locker, Inc. is an American multinational retailer of footwear, sportswear, urban youth apparel and accessories headquartered in Midtown Manhattan, New York City, and operating in over 40 countries. Although established in 1974, and ...

. Notable properties owned by the company include: *

Beverly Center The Beverly Center is a shopping mall in Los Angeles, California, United States. It is an eight-story structure located near the West Hollywood, California, West Hollywood border but within Los Angeles city limits, bounded by Beverly Boulevard, ...

Los Angeles, California Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...

* Cherry Creek Shopping Center -

Denver, Colorado Denver ( ) is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States, capital and List of municipalities in Colorado, most populous city of the U.S. state of ...

City Creek Center City Creek Center (CCC), commonly shortened to City Creek, is a mixed-use development containing an upscale open-air shopping mall, grocery store, and office and residential buildings near Temple Square in downtown Salt Lake City, Utah, United ...

Salt Lake City, Utah Salt Lake City, often shortened to Salt Lake or SLC, is the List of capitals in the United States, capital and List of cities and towns in Utah, most populous city of the U.S. state of Utah. It is the county seat of Salt Lake County, Utah, Salt ...

Dolphin Mall Dolphin Mall is a discount outlet shopping mall in Miami, Florida, United States. Opened in 2001, it consists of over of retail space. Major tenants of the mall include Bass Pro Shops, Burlington (department store), Burlington, Forever 21, Mars ...

Miami, Florida Miami is a East Coast of the United States, coastal city in the U.S. state of Florida and the county seat of Miami-Dade County, Florida, Miami-Dade County in South Florida. It is the core of the Miami metropolitan area, which, with a populat ...

Great Lakes Crossing Outlets Great Lakes Crossing Outlets, formerly Great Lakes Crossing, is a shopping mall in Auburn Hills, Michigan, a suburb of Detroit, Michigan, United States. The site of the mall was originally to have been occupied by a different mall called Auburn ...

Auburn Hills, Michigan Auburn Hills is a city in Oakland County in the U.S. state of Michigan. A northern suburb of Detroit, Auburn Hills is located about north of downtown Detroit. As of the 2020 census, the city had a population of 24,360. Auburn Hills is home to ...

* International Plaza and Bay Street -

Tampa, Florida Tampa ( ) is a city on the Gulf Coast of the United States, Gulf Coast of the U.S. state of Florida. Tampa's borders include the north shore of Tampa Bay and the east shore of Old Tampa Bay. Tampa is the largest city in the Tampa Bay area and t ...

Mall at Green Hills The Mall at Green Hills, originally Green Hills Village, is a shopping mall located in Nashville, Tennessee, United States. The mall has more than 100 stores and restaurants on two main floors totaling . Nordstrom, Dillard's, and Macy's are the ...

Nashville, Tennessee Nashville, often known as Music City, is the capital and List of municipalities in Tennessee, most populous city in the U.S. state of Tennessee. It is the county seat, seat of Davidson County, Tennessee, Davidson County in Middle Tennessee, locat ...

* The Mall at Millenia -

Orlando, Florida Orlando ( ) is a city in and the county seat of Orange County, Florida, United States. The city proper had a population of 307,573 at the 2020 census, making it the fourth-most populous city in Florida behind Jacksonville, Florida, Jacksonville ...

''(50% equity stake, managed by The Forbes Company)'' *

The Mall at Short Hills The Mall at Short Hills, also known as the Short Hills Mall, is a shopping mall located in the Short Hills section of Millburn, New Jersey, United States near the interchange of Route 24, JFK Parkway (CR 649), and Route 124. It is located ...

Short Hills, New Jersey Short Hills is an unincorporated community and census-designated place (CDP) situated within Millburn, in Essex County, within the U.S. state of New Jersey, and part of the New York metropolitan area. The community is a commuter town for resi ...

* The Mall at University Town Center -

Sarasota, Florida Sarasota () is a city in and the county seat of Sarasota County, Florida, United States. It is located in Southwest Florida, the southern end of the Tampa Bay area, and north of Fort Myers, Florida, Fort Myers and Punta Gorda, Florida, Punta Gord ...

* The Mall of San Juan -

San Juan, Puerto Rico San Juan ( , ; Spanish for "Saint John the Baptist, John") is the capital city and most populous Municipalities of Puerto Rico, municipality in the Commonwealth (U.S. insular area), Commonwealth of Puerto Rico, an unincorporated territory of the ...

Miami Worldcenter Miami Worldcenter is a large mixed-use development, mixed-use development under construction led by principals Arthur Falcone and Nitin Motwani, spanning several blocks in the Park West (Miami), Park West neighborhood of Miami, Florida, just nor ...

Sunvalley Shopping Center Sunvalley Shopping Center, or more popularly Sunvalley Mall, is a regional shopping center located in Concord, California (one of the suburbs in the San Francisco Bay Area, in east central Contra Costa County). Located off Interstate 680, Sunv ...

Concord, California Concord ( ) is the most populous city in Contra Costa County, California, Contra Costa County, California, United States. According to an estimate completed by the United States Census Bureau, the city had a population of 124,016 in 2024, maki ...

Twelve Oaks Mall Twelve Oaks Mall is a shopping mall with over 180 stores which is located in Novi, Michigan, United States, a suburb of Detroit. The mall features anchor stores Macy's, JCPenney, and Nordstrom, and will welcome Dick's Sporting Goods House of Sp ...

Novi, Michigan Novi ( ) is a city in Oakland County, Michigan, Oakland County in the U.S. state of Michigan. A northwestern Metro Detroit, suburb of Detroit, Novi is located roughly northwest of downtown Detroit. As of the 2020 United States census, 2020 census ...

* Waterside Shops -

Naples, Florida Naples is a city in Collier County, Florida, United States. As of the 2020 United States census, 2020 census, the population was 19,115, down from 19,539 at the 2010 census. Naples is a principal city of the Collier County, Florida, Naples–Marc ...

''(50% equity stake, managed by The Forbes Company)'' * Westfarms -

West Hartford, Connecticut West Hartford is a town in Hartford County, Connecticut, United States, west of downtown Hartford, Connecticut, Hartford. The town is part of the Capitol Planning Region, Connecticut, Capitol Planning Region. The population was 64,083 at the 20 ...

CityOn Zhengzhou Shopping Center CityOn Zhengzhou Shopping Center () is a shopping mall on Nongye E. Road in Zhengdong New Area, Zhengzhou, China. It was opened on 16 March 2017. Features The mall mainly features some fast fashion brands, including H&M, Zara, Massimo Dutti, B ...

- Zhengzhou, China * Starfield Hanam -

Hanam Hanam (; ) is a city in Gyeonggi Province, South Korea. Formerly a part of Gwangju County, it was designated a city in 1989. The ancient Baekje capital of Hanam Wiryeseong may have been located there. Lying immediately east of Seoul, Hanam i ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

References

External links

* {{authority control 1992 initial public offerings American companies established in 1950 Bloomfield Hills, Michigan Companies based in Oakland County, Michigan Companies formerly listed on the New York Stock Exchange Financial services companies established in 1950 Real estate companies established in 1950 Shopping center management firms 2020 mergers and acquisitions Simon Property Group