Taubman Centers, Inc., a real estate investment trust (REIT), engages in the ownership, management, leasing, acquisition, development, and expansion of regional shopping centers. As of December 31, 2006, the company's portfolio included 22 urban and suburban regional and super-regional shopping centers in 10 states. The Operating Partnership also owns certain regional retail shopping center development projects and approximately 99% of The Taubman Company LLC (the Manager), which manages the shopping centers and provides other services to the Operating Partnership and to the company. The Shopping Center Business The company’s shopping centers are located in major metropolitan areas, in communities, including Atlantic City, Charlotte, Dallas, Denver, Detroit, Los Angeles, Miami, New York City, Orlando, Phoenix, San Francisco, Tampa, and Washington, D.C. The shopping centers range in size between 242,000 and 1.6 million square feet of GLA and between 197,000 and 624,000 square feet of Mall GLA. The smallest center has approximately 60 stores, and the largest has approximately 200 stores. Of the 22 centers, 19 are super-regional shopping centers. The company's shopping centers have approximately 3,000 stores operated by their mall tenants under approximately 1,000 trade names; have 64 anchors, operating under 15 trade names; lease most of Mall GLA to national chains, including subsidiaries or divisions of The Limited (The Limited, Express, Victoria's Secret, and others), Gap (Gap, Gap Kids, Banana Republic, Old Navy, and others), and Foot Locker, Inc. (Foot Locker, Lady Foot Locker, Champs Sports, and others); and are among the most productive (measured by mall tenants' average sales per square foot) in the United States. Tenants The company’s major tenants include Limited (The Limited, Express, Victoria's Secret, and others); Gap (Gap, Gap Kids, Banana Republic, Old Navy, and others); Forever 21 (Forever 21, XXI Forever, and others); Abercrombie & Fitch (Abercrombie & Fitch, Hollister, and others); Foot Locker (Foot Locker, Lady Foot Locker, Champs Sports, and others); Williams-Sonoma (Williams-Sonoma, Pottery Barn, Pottery Barn Kids); Talbots (Talbots, J. Jill); Ann Taylor; The TJX Companies (Marshalls, T.J. Maxx); and Luxottica (Lenscrafters, Sunglass Hut International, Things Remembered, and others). Significant Events The company announced agreements with The Forbes Company and Benderson Development Company, Inc. to jointly develop University Town Center, a regional mall in Sarasota Fla. The 900,000 sq. ft., two-level, regional shopping center is part of a 276-acre mixed-use development anchored by Nordstrom, Neiman Marcus, and Macy's. Tax Status The company qualifies as a REIT under the Internal Revenue Code. As a REIT, the company would not be subjected to federal income tax to the extent it distributes at least 90% of its taxable income to its shareholders. History Taubman Centers, Inc. was founded in 1950.
taubman centers inc (TU8:Frankfurt)
200 East Long Lake Road
Bloomfield Hills, MI 48304
|DDR Corp||$17.11 USD||+0.05|
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