SCOTTSDALE PROPERTY TOUR
REGIONAL TOWN CENTERS WITH PURPOSE
Our high-quality assets in top markets are the critical differentiator for our company, driving long-term value and success.
But we also know that value is derived from owning properties with purpose: places with more uses and more meaning to more people.
2 | Introduction
Scottsdale Fashion Square
MACERICH AT A GLANCE
NET OPERATING INCOME
93% of NOI is generated by A-quality centers with sales of >$500 per square feet.
49% West Coast Centers (CA, PHX)
89% Core Markets
40% Metro NYC to D.C. Corridor
44 Properties
Feet 1972 Established 1994 IPO
47M Square
4 | Macerich at a Glance
+4.8% Same Center NOI(a) $866 Sales/Square Feet +6.6% Releasing Spreads 92.2% Occupancy(b) $150M Free Cash Flow(c) Kierland Commons Q1 2023 FINANCIAL HIGHLIGHTS (a) Average same center NOI growth in 2021-22 was 7.4% (b) Represents 3.7% occupancy growth since Q1 2021. (c) After dividend and reoccurring capital expenditures. This is consistent with 2023 Company guidance.
6 | Phoenix Metropolitan Area
PHOENIX METROPOLITAN 5M Phoenix MSA Population 2x National Average for GDP Growth (2019-22) No. 1 Maricopa County led the nation in population growth in 2021, 2022 8 Fortune 500 Companies Headquartered in the Phoenix Metro Area
A HOT MARKET
No. 16
Hottest Tech Hubs in the Nation
No. 1
Nationally with $31.9B in Investments by International Companies
$28B in Visitor Spend in 2022
$40M Spend by Domestic Overnight Visitors in 2022
Phoenix Metropolitan Area | 7 METROPOLITAN
AREA
U.S. Census Bureau, 2022; Fortune, 2023; Arizona Commerce Authority, 2023; City of Phoenix, 2022; CBRE, 2022; Visit Phoenix, 2022
SCOTTSDALE, AZ
33.4949° N, 111.9217° W
Scottsdale is Arizona’s upscale enclave located within Phoenix’s vibrant and booming metropolitan area. The luxury destination consistently ranks among the nation’s best places to live, work, visit and shop. Known for its concentration of affluent residents, Scottsdale is one of the fastest-growing cities for millionaire populations in the U.S., experiencing a staggering 88% increase in highnet-worth individuals over the past 10 years. Featuring over 300+ days of sunshine, Scottsdale draws millions of visitors annually with its world-class five-star resorts, expansive golf courses and signature events like the PGA’s Phoenix Open and Barrett Jackson’s collector car auction.
SCOTTSDALE MARKET
243K Population 59% Of Residents Hold Bachelor’s Degrees or Higher
9.7M Visitors in 2022
No. 5 City in the World for Millionaire Growth
$764K Average Home Value
$2.5B Estimated Economic Impact of Tourism in 2022
BILTMORE FASHION (MACERICH 8 | Scottsdale Overview
City of Scottsdale, 2022; Henley & Partners, 2023
SCOTTSDALE SCOTTSDALE PARADISE VALLEY PHOENIX C actus Rd. S hae Blvd. Camelback Rd. I ndian School Rd. Thomas Rd. McDowell Rd. Lincoln Blvd. Greenway Rd. Bell Rd. Scottsdale Rd. Tatum Blvd. 44th St. Camelback Mountain Frank Lloyd Wright Blvd. THE CAMBY ARIZONA BILTMORE RESORT HYATT REGENCY RESORT & SPA AT GAINEY RANCH 5.6 MILES 8.7 MILES WESTIN KIERLAND RESORT & SPA AC HOTEL BY MARRIOTT SCOTTSDALE NORTH JW MARRIOTT DESERT RIDGE THE SCOTT RESORT & SPA W SCOTTSDALE BILTMORE KIERLAND ARCADIA ASU SKYSONG OLD TOWN / DOWNTOWN SCOTTSDALE P HOENIX SKY HARBOR AIRPORT (8 miles from center) SCOTTSDALE AIRPARK & AIRPORT 101 51 51 101 TALKING STICK RESORT MOUNTAIN SHADOWS RESORT ANDAZ SCOTTSDALE RESORT SANCTUARY CAMELBACK MOUNTAIN RESORT & SPA OMNI RESORT & SPA AT MONTELUCIA THE PHOENICIAN HOTEL VALLEY HO SAGUARO HOTEL JW MARRIOTT CAMELBACK INN RESORT & SPA Arizona State University (6 miles from center) Salt River Fields at Talking Stick Westworld of Scottsdale TPC Scottsdale SCOTTSDALE QUARTER Frank Lloyd Wright-Taliesin West SCOTTSDALE FASHION SQUARE BILTMORE FASHION PARK KIERLAND COMMONS (MACERICH OWNED) ROYAL PALMS RESORT & SPA
10 | Scottsdale
Fashion Sqaure
EPICENTER OF LUXURY SCOTTSDALE FASHION SQUARE
Scottsdale Fashion Square and the success of its luxury redevelopment is a prime example of Macerich’s strategy to reinvest in elevating top Regional Town Centers. The center’s dedicated luxury wing, which debuted in November 2018, has attracted an enviable collection of new-to-market, pure luxury retailers and restaurants including Dior, Saint Laurent and Nobu. Additionally, storied top luxury brands like Louis Vuitton, Gucci, Prada, St. John, Jimmy Choo, Bottega Veneta and more, were inspired to recommit, expand and renovate their stores.
| 11
Scottsdale Fashion Square
*Trade area represents the zip codes where the top 70% of Scottsdale Fashion Square’s traffic is generated Esri, 2022
Apparel & Services +60% ^I National Average
Total
$1.5M Average
$124K Average
445K Total
CONSUMER
EXPENDITURES
$2.8K $4.2K Entertainment & Recreation +18% ^I National Average $4.9K Meals at Restaurants +62% ^I National Average SCOTTSDALE FASHION SQAURE DIAMOND IN THE DESERT 12 | Scottsdale Fashion Square
594K
Daytime Population
Net Worth
Household Income
Population PRIMARY TRADE AREA*
HOUSEHOLD
(ANNUAL AVERAGE)
Scottsdale Fashion Square | 13
THE FUTURE OF SCOTTSDALE FASHION SQUARE
CAESARS REPUBLIC SCOTTSDALE
Currently under construction on the north side of the property, the iconic Caesars Entertainment brand’s first non-gaming hotel is slated to open in February 2024
14 | Scottsdale Fashion Square
LUXURY EXPANSION
Continued enhancements to the existing merchandise mix with a dozen new retail and luxury tenants
ELEVATED DINING
The center continues to add to its collection of high-end dining experiences, including recently announced restaurants Elephante and Catch
MULTIFAMILY AND CLASS A OFFICE
Proposed addition of high-end luxury residential units and 500K SF of Class A office space
Scottsdale Fashion Square | 15
16 | Scottsdale
Fashion Square
SCOTTSDALE FASHION SQUARE
Scottsdale Fashion Square | 17 AERIAL
18
| Kierland Commons
EPITOME OF LIVE, WORK, PLAY KIERLAND COMMONS
Kierland Commons has set the standard for lifestyle centers across the country. Situated on the border of Scottsdale and Northeast Phoenix, its intimate walking streets are lined with national and unique retailers alike, along with an array of indoor/outdoor dining options. The center perfectly combines shopping, dining, working and living, featuring over 114,000 square feet of leasable office space above prestigious class “A” retail shops and 84 luxury residential condominiums. As a major draw in North Scottsdale, Kierland Commons is a natural destination for workers along the Scottsdale Airpark Corridor, one of the state’s major hubs for urban growth and home to the second-largest employment center in Arizona.
Kierland Commons | 19
CONSUMER HOUSEHOLD EXPENDITURES (ANNUAL AVERAGE)
307K Total Population
$160K Average Household Income
$2.4M Average Net Worth
390K Total Daytime Population
*Trade area represents the zip codes where the top 70% of Kierland Commons’ traffic is generated Esri, 2022
PRIMARY TRADE AREA*
$3.5K Apparel & Services 2x ^I National Average $5.4K Entertainment & Recreation +51% ^I National Average $6K Meals at Restaurants 2x ^I National Average 20 | Kierland Commons
KIERLAND COMMONS A ONE-STOP DESTINATION
Kierland Commons | 21
THE FUTURE OF KIERLAND COMMONS
Macerich has identified strong mixed-use densification opportunities for multifamily and office development in one of the Phoenix Metropolitan area’s most affluent, densely-packed trade areas.
22 | Kierland Commons
MULTIFAMILY
Development of a groundup luxury multifamily residential tower with 5-star amenities such as 24/7 concierge and valet
CLASS A OFFICE
Class A office tower opportunity for ground-up development with sight lines from Scottsdale Road and the first new office build for the trade area in over a decade
Kierland Commons | 23
AERIAL KIERLAND COMMONS
OFFICE OFFICE
24 | Kierland Commons
WESTIN KIERLAND RESORT & CONVENTION CENTER GREENWAY PKWY
THE PLAZA LOFTS KIERLAND OPTIMA SCOTTSDALE QUARTER SCOTTSDALEROAD KIERLAND BLVD Kierland Commons | 25
26 | Properties and People with Purpose
PROPERTIES AND PEOPLE WITH PURPOSE
Our longstanding industry leadership in sustainability, combined with solid financial performance, reflects our successful approach to double materiality. At Macerich, we have long focused on assessing both inward and outward impacts, and we will continue to make purposeful business decisions that stem from our values.
Scottsdale Fashion Square
FOR MORE INFORMATION CONTACT Samantha Greening | Samantha.Greening@macerich.com
