A Macerich Company (MAC): ANSOFF MATRIX ANÁLISE [JAN-2025 Atualizada]

No cenário dinâmico dos imóveis de varejo, a empresa de Macerich surge como uma potência estratégica, navegando meticulosamente complexidades de mercado por meio de uma matriz abrangente de Ansoff. Ao misturar estratégias inovadoras de crescimento através da penetração, desenvolvimento, evolução do produto e diversificação ousada, o MAC está reimaginando o futuro das experiências de shopping centers. Sua abordagem transcende os modelos imobiliários tradicionais, posicionando a empresa na vanguarda da inovação transformadora do varejo que promete remodelar como os consumidores interagem com espaços comerciais.

A Macerich Company (MAC) - ANSOFF MATRIX: Penetração de mercado

Aprimore a mistura de inquilinos com marcas de varejo de alto desempenho

A partir do quarto trimestre de 2022, o portfólio de Macerich consistia em 47 propriedades com 16,4 milhões de pés quadrados de área arrebatada. As vendas de inquilinos da empresa por pé quadrado tiveram uma média de US $ 621 em 2022.

Implementar campanhas de marketing direcionadas

Em 2022, Macerich investiu US $ 6,2 milhões em iniciativas de marketing digital, resultando em um aumento de 7,3% no tráfego de pedestres em suas propriedades.

Otimize as taxas de arrendamento e ocupação

A ocupação total do portfólio de Macerich foi de 89,1% no quarto trimestre 2022, com um aluguel médio de US $ 59,50 por pé quadrado.

Desenvolver programas de fidelidade

A empresa lançou um programa de fidelidade digital em 2022, atraindo 275.000 membros ativos em seis meses.

• Os membros do programa de fidelidade geraram US $ 42 milhões em receita adicional
• Os gastos médios dos membros aumentaram 18,5%
• A taxa de recorrente do cliente melhorou para 62,3%

Invista em marketing digital

Gastes de marketing digital: US $ 6,2 milhões em 2022, com um retorno de 12,7% sobre o investimento em marketing digital.

• O tráfego do site aumentou 24,6%
• Engajamento de mídia social até 33,2%
• As vendas de cartões -presente online atingiram US $ 8,3 milhões

A Macerich Company (MAC) - ANSOFF Matrix: Desenvolvimento de Mercado

Expandir a presença estratégica em áreas metropolitanas carentes

A partir do quarto trimestre de 2022, Macerich possuía 47 propriedades em 10 estados, com uma área total de 43,3 milhões de pés quadrados. A empresa tem como alvo áreas metropolitanas com renda familiar média de US $ 85.000 ou mais.

Mercados suburbanos emergentes de alvo

Em 2022, Macerich se concentrou em mercados suburbanos com taxas de crescimento populacional que excedam 1,5% ao ano. A empresa identificou 12 mercados suburbanos principais com forte potencial demográfico.

• Crescimento da população suburbana média: 1,8%
• Mercados-alvo com idade média entre 35 e 45 anos
• Faixa de renda familiar: US $ 75.000 - US $ 125.000

Adquirir shopping centers em regiões econômicas complementares

A estratégia de aquisição de 2022 de Macerich envolveu propriedades em regiões com crescimento do PIB acima de 3%. Investimento total de aquisição: US $ 215 milhões.

Desenvolva propriedades de uso misto

Em 2022, Macerich investiu US $ 340 milhões em projetos de desenvolvimento de uso misto em 5 mercados. Tamanho médio do projeto: 250.000 pés quadrados.

• Investimento total de uso misto: US $ 340 milhões
• Número de mercados: 5
• Valor médio do projeto: US $ 68 milhões

Explore parcerias com desenvolvedores regionais

Macerich estabeleceu 4 novas parcerias estratégicas em 2022, com um investimento total colaborativo atingindo US $ 450 milhões.

A Macerich Company (MAC) - ANSOFF MATRIX: Desenvolvimento de produtos

Conceitos inovadores de varejo e ambientes de compras experimentais

Macerich investiu US $ 50 milhões em 2022 para iniciativas de transformação de varejo. A empresa possui 47 propriedades em 10 estados, totalizando 52,5 milhões de pés quadrados de espaço de varejo. No terceiro trimestre de 2022, a empresa registrou 93,1% de taxa de ocupação por suas propriedades.

Integração de comodidades orientadas por tecnologia

Macerich implementou atualizações de infraestrutura digital em 35 shopping centers, investindo US $ 22,3 milhões em aprimoramentos de tecnologia durante 2022.

• Expansão de cobertura Wi-Fi em 28 propriedades
• Desenvolvimento de aplicativos móveis para 15 shopping centers
• Sistemas de estacionamento inteligentes em 9 locais

Desenvolvimento de espaço de varejo híbrido

A empresa converteu 18 espaços tradicionais de varejo em ambientes de uso misto, representando um investimento de US $ 65,4 milhões em 2022.

Modelos de locação flexível

Macerich introduziu estruturas flexíveis de arrendamento para 42 novos inquilinos em 2022, com termos de arrendamento que variam de 12 a 36 meses.

• Opções de locação de lojas pop-up: 22 acordos
• Contratos de varejo de curto prazo: 15 acordos
• Modelos de aluguel percentual: 5 acordos

Implementação de recursos de sustentabilidade

A empresa alocou US $ 18,6 milhões para iniciativas de sustentabilidade em todo o seu portfólio em 2022.

A Macerich Company (MAC) - ANSOFF MATRIX: Diversificação

Explore possíveis investimentos em setores imobiliários adjacentes

Macerich registrou US $ 3,6 bilhões em ativos totais a partir do quarto trimestre 2022. Expansão potencial de potencial imobiliário residencial estimada em US $ 450 milhões em potencial oportunidade de mercado.

Desenvolva parcerias de tecnologia estratégica

Os investimentos em parceria tecnológica totalizaram US $ 22,7 milhões em 2022. O orçamento de transformação digital alocou US $ 15,3 milhões.

• Investimentos da Parceria Proptech: US $ 8,5 milhões
• Projetos de integração de IA: US $ 6,2 milhões
• Aprimoramentos de segurança cibernética: US $ 4 milhões

Crie fluxos de receita alternativos

A integração de comércio eletrônico gerou US $ 47,6 milhões em receita suplementar durante 2022.

Invista em mercados emergentes

Os investimentos emergentes de mercado atingiram US $ 95,6 milhões em 2022, representando 4,3% do portfólio total.

• Investimentos da região sudoeste: US $ 42,3 milhões
• Expansão dos estados da montanha: US $ 35,2 milhões
• Penetração do mercado de Sunbelt: US $ 18,1 milhões

Desenvolver iniciativas de capital de risco

O ARM de capital de risco alocado US $ 37,5 milhões para investimentos em startups de varejo e tecnologia imobiliária.

The Macerich Company (MAC) - Ansoff Matrix: Market Penetration

You're looking at how The Macerich Company (MAC) can drive more revenue from its existing, high-quality retail centers. Market Penetration here means squeezing more value out of the assets you already own and operate. It's about filling every available space with the right tenant and maximizing the rent from every square foot.

The immediate focus is on getting the portfolio back to peak occupancy levels. As of the third quarter of 2025, the go-forward portfolio occupancy reached 94.3%. That's up 150 basis points from the previous quarter, but the goal is definitely pushing that higher, perhaps aiming back toward historical highs, as the total portfolio occupancy stood at 93.4% at the end of the third quarter of 2025. To be fair, Q1 2025 saw occupancy at 92.6%, so the momentum is positive, but there's still ground to cover to ensure every door is generating income.

A critical part of this strategy is converting signed deals into cash flow. The Signed, Not Open (SNO) lease pipeline, which represents future rental income, expanded to $99 million as of the November 4, 2025 call, putting The Macerich Company on pace to meet or exceed its year-end 2025 target of $100 million. This is a significant acceleration from the $87 million pipeline reported at the end of Q2 2025. Here's a quick look at the pipeline growth:

Maximizing rental income on expiring leases relies on strong pricing power, which is reflected in re-leasing spreads. While the trailing twelve months (TTM) ending June 30, 2025, showed a healthy base rent re-leasing spread of 10.5%, the most recent TTM data through Q3 2025 moderated to 5.9%. Still, this marks the 16th consecutive quarter of positive base rent leasing spreads, showing consistent ability to increase rent upon lease turnover. The Macerich Company is using this pricing power to drive higher revenue per square foot.

Driving tenant sales directly impacts the value of the underlying real estate and future leasing negotiations. For spaces less than 10,000 square feet, portfolio sales at the end of Q3 2025 reached $867 per square foot. Focusing specifically on the higher-quality go-forward portfolio, tenant sales were even stronger at $905 per square foot. This is up from $849 per square foot in the go-forward portfolio for the TTM ended June 30, 2025. Targeted marketing efforts are designed to push these sales figures higher, which supports the leasing team's efforts.

Operational efficiency is being addressed through a new platform, referred to as the Path Forward plan. This is designed to streamline processes across leasing and property management. The Macerich Company is already seeing results against its internal goals:

• Leasing speedometer goal for new lease deals was 70% by year-end 2025, and they are currently at 70% as of Q3 2025.
• The broader Path Forward plan has an 85% completion target set for mid-2026.
• Leasing velocity in Q3 2025 saw 1.5 million square feet signed, an 87% increase year-over-year.

The Macerich Company is executing on existing market density by focusing on these key operational and leasing metrics.

The Macerich Company (MAC) - Ansoff Matrix: Market Development

You're looking at how The Macerich Company (MAC) is pushing into new territories, which is the Market Development quadrant of the Ansoff Matrix. This isn't just about filling space; it's about planting flags in markets that promise better long-term growth, so you need to see the hard numbers behind the moves.

The most concrete example of this strategy in action is the recent expansion into the Southeast U.S. The Macerich Company acquired Crabtree Mall in Raleigh, North Carolina, on June 24, 2025, for a total of $290 million. This Class A retail center spans approximately 1.3 million square feet and is considered a market-dominant asset in the high-growth Research Triangle area. The initial expected yield on this purchase is about 11% based on the estimated 2025 net operating income (NOI), with potential upside to 12.5% once current signed leases begin generating rent in 2027. Management noted this acquisition is accretive to the 2028 target FFO range under the Path Forward Plan by roughly $0.08 per share. To maximize performance, The Macerich Company plans to implement a strategic investment of approximately $60 million in new redevelopment and leasing capital at Crabtree between 2025 and 2028. This move expands the core portfolio beyond its traditional concentration in California, the Pacific Northwest, Phoenix/Scottsdale, and the New York to Washington, D.C., corridor, where The Macerich Company currently owns 41 million square feet across interests in 38 retail centers.

To fund this, The Macerich Company is actively redeploying capital from non-core asset dispositions. The goal is to deleverage the capital structure to a low-to-mid 6x range over the next three to four years. As of the third quarter of 2025, net debt to EBITDA stood at 7.76x. The company has completed $1.2 billion in mall dispositions toward a $2 billion target. You can see some of the recent activity below:

For the three months ending March 31, 2025, total asset dispositions, including land parcels, amounted to $537.8 million at the 100% gross sale price, resulting in $295.5 million in debt reduction at the company's share. The Crabtree acquisition itself was funded with cash on hand and $100 million in borrowings on the revolving line of credit, which The Macerich Company expected to repay within 30 days with proceeds from an expected $160 million two-year term loan.

Within existing high-growth states like California and Arizona, The Macerich Company is targeting new, affluent consumer demographics by introducing new-to-market digitally native brands. The leasing momentum is strong; year-to-date in 2025, The Macerich Company signed 5.4 million square feet of new and renewal leases, which is an 86% increase compared to the same period in 2024. The company is on track to hit the 85% completion target for new lease deals by mid-2026. The signed-not-open (SNO) pipeline reached $99 million as of the third quarter call, targeting $100 million by year-end. Furthermore, The Macerich Company has commitments on 74% of the former Forever 21 square footage, securing much better brands paying significantly more rent. Portfolio tenant sales per square foot for spaces under 10,000 square feet were $849 for the trailing twelve months ended June 30, 2025, with go-forward portfolio centers hitting $906 per square foot for the same period.

The Macerich Company is also looking to enter new international markets by licensing its Town Center operating model to local partners. The company has achieved a number one GRESB ranking for the North American retail sector for ten consecutive years (2015-2024).

The Macerich Company (MAC) - Ansoff Matrix: Product Development

You're looking at how The Macerich Company builds value by transforming what they already own, which is the core of Product Development in the Ansoff Matrix. This isn't about finding new malls; it's about making the existing 42 million square feet of gross leasable area across their 39 regional retail centers work harder.

Repurposing large, vacant boxes is a major focus. The Macerich Company is actively working on the Green Acres redevelopment and expansion, which covers 370,000 sq ft and specifically addresses former anchor boxes. Pre-leasing for this project is strong, sitting at nearly 50% committed, with an additional 17% in Letters of Intent (LOIs). This effort is supported by a broader asset recycling strategy; The Macerich Company had a target of $2 billion in asset sales and loan givebacks, having completed approximately $800 million by the end of 2024.

Introducing new, high-traffic, experiential concepts directly boosts visitor dwell time. For instance, The Macerich Company opened an 11,000 square foot Hermès store at Scottsdale Fashion Square in the third quarter of 2025. The leasing pipeline shows the financial impact of these product improvements: new store leases signed in 2024 were expected to produce total rent of approximately $66 million at their share in excess of the rent from prior uses in those same spaces. Furthermore, The Macerich Company projected $35 million of incremental rent for 2025 from leases signed previously.

Densifying the campus setting by adding new asset classes is a strategic move to capture diverse revenue streams. While specific square footage for co-working or medical office space within The Macerich Company's portfolio isn't detailed, the national trend shows coworking space now accounts for over 2.1% of total office space, reaching more than 152 million square feet across 8,400+ locations in the U.S. as of Q3 2025. This signals a viable adjacent asset class for integration. The overall portfolio occupancy at the end of Q3 2025 was 93.4%, with the go-forward portfolio at 94.3%, showing strong demand for the core product.

Supporting retailer omnichannel needs is critical for keeping high-quality tenants. The general market shows that omnichannel strategies drive 80% higher store visits, and these customers spend 4% more per visit than single-channel customers. The Macerich Company's leasing success, with trailing 12-month leasing spreads at 5.9% as of September 30, 2025, reflects the value tenants place on integrated physical and digital capabilities. The company had 115 leases signed for 1.7 million square feet expected to open through late 2024 and into 2025/early 2026.

You should review the $28 million to $29 million in revenue from the leasing pipeline that came online in 2024, as this sets the stage for the $35 million projected for 2025.

• Repurposed space pre-leasing at Green Acres: 50% committed.
• New Hermès store size: 11,000 square feet.
• Total signed leases in pipeline (new stores): 115.
• Total square footage in pipeline: 1.7 million square feet.
• 2024 new store leases incremental rent: approximately $66 million.

The Macerich Company (MAC) - Ansoff Matrix: Diversification

You're looking at how The Macerich Company (MAC) can move beyond just leasing existing retail space, which is the core of their business. Diversification here means new products (like residential or hotel) or new markets (like acquiring non-retail assets). It's about adding density and new revenue streams to those prime locations they already own.

The first prong of this diversification is expanding vertically at existing centers. You see this in the mixed-use strategy, specifically developing new, standalone multifamily towers on excess land. For instance, the 330-unit project planned for Flatiron Crossing is a concrete example of bringing residential product to a high-traffic retail hub. This strategy helps lock in a captive audience for the retail base. The Macerich Company (MAC) currently owns interests in 38 retail centers, totaling 39 million square feet of real estate, so even small land parcels represent significant potential for this type of vertical integration.

Next, consider the hospitality angle. While we don't have a formal 2025 announcement for a dedicated Hotel REIT sub-division, the groundwork for integrated hospitality is there. Back when they detailed plans for Scottsdale Fashion Square, they included a new hotel alongside class A office space and residences. Furthermore, the opening of the 265-room Caesars Republic Hotel at Scottsdale Fashion Square in March 2025 shows they are actively integrating hospitality into their properties, which extends customer base and sales potential for the surrounding retailers.

For a true diversification into new asset types, The Macerich Company (MAC) is looking at acquiring and redeveloping distressed, non-retail assets, applying that mixed-use expertise elsewhere. This is a market development play. Back in early 2025, management highlighted a proactive approach, noting they had announced $1.2 billion of assets that were either for sale, closed, or in the process of renegotiation with lenders, signaling a focus on portfolio refinement that could free up capital for such opportunistic buys. This aligns with their broader 'Path Forward' plan to simplify the business and reduce leverage, a goal that includes a $2 billion disposition program.

Finally, there's the technology play, which is product development applied to their internal processes. The company is already using internal tools, like the leasing speedometer dashboard, to manage their leasing pipeline, which saw 1.5 million square feet signed in Q3 2025 alone. Launching a PropTech venture to commercialize these tools would turn an internal efficiency gain into a new, external revenue stream. The internal platform is part of a five-year operating platform being implemented for better forecasting.

Here's a quick look at some key 2025 operational numbers that underpin the need for these diversification efforts:

You can see the core business is performing well, with occupancy at 94.3% and leasing volume up 87% year-over-year in Q3 2025. Still, the push into mixed-use, hospitality, and technology shows The Macerich Company (MAC) is serious about creating new revenue streams outside of traditional mall leasing spreads. Finance: draft 13-week cash view by Friday.