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SCT

Macerich teams up with Industrious to lease office spaces in some malls

August 8, 2018

Macerich is teaming up with office space provider Industrious to set up and operate offices at selected retail properties across the U.S.

“This is the first time a major mall owner has partnered with a coworking company targeting a multi-property rollout,” Macerich announced in a prepared statement.

The first such office will be established in January at Scottsdale (Ariz.) Fashion Square, near Phoenix.

"Macerich is on the cutting edge when it comes to adding exciting, traffic-driving new uses to our market-dominant retail properties across the country," said Arthur M. Coppola, CEO of Macerich. "With time-limited marquee attractions like Candytopia, luxury fitness/wellness concepts, destination restaurants and appealing first-to-market digitally native brands, our well-situated centers are high street, town square locations where shoppers, retailers and brands absolutely want to be. Our settings deliver top-tier, built-in amenities for today's professionals, which is why a partnership with experience-focused Industrious makes so much sense."

Macerich's first Industrious office will be established in January at Scottsdale (Ariz.) Fashion Square, near Phoenix

Industrious operates at nearly 50 locations across 33 U.S. cities, offering workspaces for established companies ranging from small or midsize businesses to Fortune 500 entities. Among its household-name clients are Freddie Mac, Hyatt, Lyft, Pandora, Pfizer and Pinterest.

"Our relationship represents a bold step that combines our vision for the future of the workplace with Macerich's vision for the future of the retail experience and allows us to jointly deliver superior programming, services and amenities, beginning at Scottsdale Fashion Square," said Industrious CEO Jamie Hodari. "We look forward to Scottsdale Fashion Square being the first of many successful collaborations between our two companies."

Macerich owns some 52 million square feet of real estate, consisting primarily of interests in 48 regional shopping centers.

By Edmund Mander

Director, Editor-In-Chief/SCT

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