Taubman and Macerich complete purchase of Country Club Plaza

Kansas City -- Taubman Centers and The Macerich Company announced a joint venture for Country Club Plaza location in Kansas City, Missouri from Highwoods Properties. The mixed-use retail and office property was purchased for $660 million cash, excluding transaction costs. Taubman and Macerich each own a 50% interest in the center.



Country Club Plaza was in 1922, an iconic, 15-block, 1.3 million sq. ft. mixed-use retail and office property located in the heart of Kansas City. The retail portion of the property includes 804,000 sq. ft. of GLA featuring 45 unique-to-market tenants, with key retailers such as Apple, H&M, Tesla and Lululemon, as well as a dynamic mix of restaurants, including The Capital Grille and The Cheesecake Factory. The 468,000 sq. ft. office portion of the property is comprised of the 10-story Valencia tower, which serves as the worldwide headquarters of Lockton Companies, and additional office space located above the ground-level retail.