Art Coppola, CEO of The Macerich Co., has expressed a desire to recapture the Mervyn's space in his company's portfolio, saying he sees upside potential in re-tenanting, redeveloping or expanding those boxes. Macerich has 9 percent of its square footage leased to Mervyn's or Marshall Field's, the highest of any mall REIT. Simon and General Growth have a similar number of stores, but because of their larger size they are even less exposed to the two chains.
Mall REIT Exposure To Marshall Field's, Mervyn's
|REIT||Stores||Square Feet Footage||% Of Total Square|
|*Includes Target, Marshall Field's and Mervyn's|