Open main menu

Taubman Centers, Inc. is a real estate investment trust that invests in shopping centers.

Taubman Centers, Inc.
Public company
Traded asNYSETCO
S&P 400 Index component
IndustryReal estate investment trust
Founded1950; 69 years ago (1950)
FounderA. Alfred Taubman
HeadquartersBloomfield Hills, Michigan
Area served
North America
Key people
Robert S. Taubman, Chairman
William S. Taubman, COO
RevenueIncrease $0.629 billion (2017)
Decrease $0.109 billion (2017)
Total assetsIncrease $4.214 billion (2017)
Total equityDecrease -$0.150 billion (2017)
Number of employees
468 (2017)
Footnotes / references


As of December 31, 2017, the company owned interests in 24 shopping centers in 11 U.S. states, Puerto Rico, South Korea, and China.[1]

The company's largest tenants include Forever 21, The Gap, H&M, L Brands, Williams-Sonoma, Urban Outfitters, Ascena Retail Group, Abercrombie & Fitch, Inditex, and Foot Locker.[1]

Notable properties owned by the company include:


The company was founded in 1950 by A. Alfred Taubman.[2]

In 1953, it opened its first shopping center, North Flint Plaza in Flint, Michigan.

In 1964, the company opened its first enclosed mall, Southland Mall in Hayward, California.

In 1973, the company was incorporated as Taubman Centers, Inc.[1]

In 1985, the company sold Arborland Consumer Mall to Simon Property Group; the mall was torn down in 1999.

In 1987, the company sold Southridge Mall.

In 1992, the company became a public company via an initial public offering.[3]

In 1995, the company surrendered Bellevue Center to its lender.

In 1997, the company sold Queens Center to Macerich.[4]

In 1998, the company sold The Mall at Tuttle Crossing, Hilltop Mall, Marley Station, Meadowood Mall, Lakeforest Mall, Briarwood Mall, Stoneridge Shopping Center, The Falls Mall, and Columbus City Center to GM Pension Trust.[5] The company continued to manage the properties until 2003 when they were sold again.

In 1999, the company sold Rockaway Townsquare to Simon Property Group.

In 2000, the company traded Lakeside Mall Rodamco for full ownership of Twelve Oaks.[6]

In 2003, Simon Property Group attempted to acquire the company via a hostile takeover.[7]

In 2006, the company sold Woodland Mall to Pennsylvania Real Estate Investment Trust.

In 2011, the company transferred The Pier Shops at Caesars to its lenders.[8]

In January 2012, Regency Square in Richmond, Virginia was surrendered to creditors to avoid foreclosure.[9]

In January 2014, the company sold Arizona Mills and land for the proposed The Mall at Oyster Bay to Simon Property Group.[10]

In October 2014, the company sold The Mall at Partridge Creek, MacArthur Center, Northlake Mall, The Mall at Wellington Green, Stony Point Fashion Park, The Shops at Willow Bend, and Fairlane Town Center to Starwood Capital Group.[11]

In April 2015, the founder, Alfred Taubman, died at the age of 91.[2]

In March 2016, in a joint venture with Macerich, the company acquired Country Club Plaza in Kansas City, Missouri for $660 million.[12]

In 2016, the company sold The Shops at Crystals to Simon Property Group.


  1. ^ a b c d "Taubman Centers, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ a b Burke, Heather (April 18, 2015). "Alfred Taubman, Mall Developer, Ex-Sotheby's Chair, Dies at 91". Bloomberg L.P.(subscription required)
  3. ^ Norris, Floyd (August 4, 1992). "Taubman Centers, a Mall Empire, to Go Public; Big Developer To Shed Debt In Stock Sale". The New York Times.(subscription required)
  4. ^ Lee, Tien-Shun (October 10, 2011). "106 new stores to open at Queens Center Mall". TimesLedger Newspapers.
  5. ^ "Taubman Sets Mall Deal With G.M. Fund". The New York Times. Bloomberg News. August 20, 1998.(subscription required)
  6. ^ "Taubman, Rodamco Swap Interests in Twelve Oaks, Lakeside". CRE News. January 14, 2000.
  7. ^ DAY, SHERRI; SORKIN, ANDREW ROSS (August 4, 1992). "Simon Group Gives Up Hostile Bid for Taubman Centers". The New York Times.(subscription required)
  8. ^ "The Pier Shops at Caesars Transferred to the Mortgage Lender" (Press release). PR Newswire. November 14, 2011.
  9. ^ "Regency Square Transferred to the Mortgage Lender" (Press release). PR Newswire. January 5, 2012.
  10. ^ "Taubman Centers Sells Long Island Land And Interest In Arizona Mills To Simon Property Group" (Press release). PR Newswire. January 31, 2014.
  11. ^ "Taubman Completes Sale of Seven Malls to Starwood Capital Group" (Press release). PR Newswire. October 17, 2014.
  12. ^ "It's official: Sale of Country Club Plaza closes". The Kansas City Star. March 1, 2016.