By Josh Beckerman
Macerich bought the Annapolis Mall in Maryland and an adjacent vacant Sears parcel for $272 million.
The real estate investment trust said its strategic investment plan for the mall includes investing about $40 million of leasing capital. Macerich said the deal excludes the Macy's anchor, which is not owned, and a vacant JCPenney store that is being actively retenanted.
Investors including Centennial and Atlas Hill RE bought the 1.5 million-square-foot mall in 2024.
Macerich also reported first-quarter adjusted funds from operations of 34 cents a share, flat with a year earlier. The company said its leasing activity remains ahead of plan.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 06, 2026 19:08 ET (23:08 GMT)
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