Profile: Taubman Centers Inc (TCO.N)
26 May 2017
Taubman Centers, Inc., incorporated on November 21, 1973, is a self-administered and self-managed real estate investment trust (REIT). The Company's segment is focused on owning, developing and managing regional shopping centers. The Taubman Realty Group Limited Partnership (the Operating Partnership or TRG) is majority-owned partnership subsidiary of the Company that owns direct or indirect interests in all of its real estate properties. The Company owns, leases, acquires, disposes of, develops, expands and manages regional and super-regional shopping centers and interests therein. Its owned portfolio of operating centers as of December 31, 2016 consisted of 23 urban and suburban shopping centers operating in 11 the United States states, Puerto Rico, South Korea, and China. The consolidated businesses consist of shopping centers and entities that are controlled by ownership or contractual agreements, The Taubman Company LLC (Manager), and Taubman Properties Asia LLC and its subsidiaries (Taubman Asia).
As of December 31, 2016, the centers are strategically located in various metropolitan areas, including Denver, Detroit, Honolulu, Kansas City, Los Angeles, Miami, Nashville, New York City, Orlando, Salt Lake City, San Francisco, San Juan, Sarasota, St. Louis, Tampa, Washington, D.C., Hanam (South Korea), and Xi'an (China). As of December 31, 2016, the centers ranged in size between 236,000 and 1.7 million square feet of gross leasable area (GLA) and between 186,000 and 1.2 million square feet of Mall GLA, with an average of 1.0 million and 0.5 million square feet, respectively. As of December 31, 2016, the Company had approximately 3,100 stores operated by its mall tenants under approximately 1,500 trade names. As of December 31, 2016, the Company has 53 anchors, operating under 14 trade names. As of December 31, 2016, the Company leased approximately 93% of Mall GLA to national chains (the United States centers only), including subsidiaries or divisions of Forever 21 (Forever 21, For Love 21, and XXI Forever), The Gap (Gap, Gap Kids, Baby Gap, Banana Republic, Old Navy, Athleta, and others), H&M, and Limited Brands (Bath & Body Works/White Barn Candle, Pink, Victoria's Secret, and others).
Taubman Centers Inc
200 E Long Lake Rd Ste 300
BLOOMFIELD HILLS MI 48304-2324
Company Web Links
- BRIEF-Taubman comments on ISS and Glass Lewis reports
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- UPDATE 2-Proxy advisers recommend activist nominees for Taubman board
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