Macerich reports increase in income, mall occupancy and sales
BPC Staff Oct 31, 2012 | 7:02 pm
<1 min read time
99 wordsReal Estate and Development, Retail and BusinessThe Macerich Co., owners of Southridge Mall in Des Moines, reported net income of $43.9 million for the quarter ended Sept. 30, compared with net income of $12.9 million a year ago.
The company, which is based in Santa Monica, Calif., and has it origins in Iowa, said funds from operations for recent quarter were $112.9 million, compared with $104.2 million a year ago.
Annual sales per square foot at its malls increased 9.4 percent to $511 for the year ended Sept. 30 and mall occupancy was at 93 percent, compared with 91.9 percent for the same year-ago period.
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