Macerich Co. MAC

SANTA MONICA, Calif., March 8, 2023 /PRNewswire/ -- Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of high-quality retail and mixed-use properties in top markets, today announced that Din Tai Fung – often described as the "world's greatest dumplings" – is coming to Santa Monica Place.

Din Tai Fung will take a prime, 10,615-square-foot, indoor/outdoor location with ocean views on the third level of the property, across from the newly announced ARTE MUSEUM.

"Santa Monica Place is an ideal location for our newest restaurant in Los Angeles," said Aaron Yang, Vice President of Din Tai Fung. "Santa Monica is a neighborhood we have been eyeing for a long time, and we are excited to have finally found the perfect place for us to expand our footprint across Los Angeles." 

Previously, Macerich welcomed Din Tai Fung at its high-performing Washington Square regional town center just outside Portland – the concept's only Oregon-area location – where it has been delighting dumpling fans since opening in 2018.

"We are so pleased that Din Tai Fung has chosen Santa Monica Place to expand their world-famous restaurant concept, which is already incredibly popular across Southern California," said Guy Mercurio, Vice President of Restaurant Leasing, Macerich. "As we redevelop key elements of this award-winning property to welcome new experiences, like Din Tai Fung and ARTE MUSEUM, we continue to demonstrate Macerich's successful approach to re-imagining our well-positioned, high-quality real estate for what people want today."

Announced in January, ARTE MUSEUM is a 50,000-square-foot immersive, digital art destination that will replace the former ArcLight Cinemas location at Santa Monica Place. Set to open in early 2024, ARTE MUSEUM is expected to draw 1 million visitors annually to Santa Monica Place, which is a year-round magnet for international and domestic visitors and affluent locals in this perennially strong Southern California beach city.

About Din Tai Fung

Din Tai Fung is a Chinese restaurant specializing in Xiao Long Bao, or soup dumplings. Since its founding by Mr. Bing-Yi Yang in Taiwan in 1972, Din Tai Fung has become world-renowned for its quality, standardization and service. 

Born in China's Shanxi Provence in 1927, Mr. Yang immigrated to Taiwan at 20 years old. There, he opened his own cooking oil retail shop, and named it Din Tai Fung. Mr. Yang and his wife, Mrs. Pen-Mei Lai Yang, dedicated half of their shop to making and selling Xiao Long Bao. The broth-filled dumplings became so popular that Mr. Yang phased out his cooking oil business and turned Din Tai Fung into the full-fledged restaurant it is today. With a menu that now includes steamed buns, house-made noodles and vegan dishes, the brand has won many awards and allocations. Today, Din Tai Fung has over 170 locations in 13 countries worldwide. 

For more information, please visit https://www.dintaifungusa.com/us/ 
Find Din Tai Fung USA on Facebook and Instagram @dintaifungusa 

About Santa Monica Place

Located steps away from the Pacific Ocean, the unique, all-outdoor Santa Monica Place is home to Nordstrom, Louis Vuitton, Tiffany & Co., Nike, Tonal, Tory Burch and Hugo Boss, plus dozens more shops and an inspired collection of restaurants and entertainment experiences including True Food Kitchen, The Cheesecake Factory, LouLou and more. For more information, please visit Santa Monica Place | Home.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 47 million square feet of real estate consisting primarily of interests in 44 regional town centers, many of which contain mixed uses. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 GRESB ranking for the North American retail sector for eight years (2015-2022). For more information, please visit www.Macerich.com.

Macerich uses, and intends to continue to use, its Investor Relations website, which can be found at investing.macerich.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about Macerich can be found through social media platforms such as LinkedIn. Reconciliations of non-GAAP financial measures, including NOI and FFO, to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted on the Investor Relations website at investing.macerich.com.

MAC-L

SOURCE: Macerich

 

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SOURCE Macerich Company