Commercial/Multifamily Briefs

MBA NewsLink Staff

November 27, 2018

Macerich Launches BrandBox to Bridge Digital, Physical Retail
Macerich, Santa Monica, Calif., launched BrandBox as a way for digital-native brands to open and operate brick-and-mortar stores and scale physical retail as a complement to e-commerce.

A BrandBox store ranges from 500 to 2,500 square feet and leases run six to 12 months. Spaces have modular walls and tracking systems that can be re-oriented for a new store configuration and lighting and fixtures are easily swapped out. Unlike a pop-up or department store format, BrandBox members configure a fully functioning retail store unique to their brand.

The first BrandBox location opened recently in Tysons Corner Center in Tysons, Va., with Winky Lux, Naadam, Interior Define, Nectar Sleep, DKNY and UrbanStems. Macerich said additional locations will open in 2019 at some Macerich properties.

"Macerich recognized that digitally native brands are a key part of the future retail landscape and require a more flexible approach to traditional real estate," the firm said.

Store designs are tailored to each brand, Macerich said. In addition, brands have access to retail analytics to measure in-store sales and customer engagement as they would in the digital world by analyzing data including anonymized foot traffic, conversion, customer flows and sales.

Freddie Mac Prices $1.2 Billion Multifamily K-Deal
Freddie Mac, McLean, Va., priced a new Structured Pass-Through Certificate offering. The company said it expects to issue $1.2 billion in multifamily mortgage-backed securities "K Certificates" that should settle on or about November 27.

Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. served as co-lead managers and joint bookrunners. Moody's Investors Service, Inc. and Morningstar Credit Ratings LLC rated the offering.

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