Macerich announces Pindustry as an anchor for HiFi, a mixed-use development adjacent to FlatIron Crossing in Colorado.
Quiver AI Summary
Macerich, a leading retail property owner and developer, has announced that Pindustry will serve as the anchor for HiFi, its new mixed-use development adjacent to FlatIron Crossing in Colorado. HiFi aims to blend multifamily living, shopping, dining, and entertainment within a vibrant outdoor environment, featuring green spaces for events and activities. Pindustry, a locally-owned entertainment venue, will provide a range of attractions including bowling, arcade games, and live music in a 34,000 square-foot space. Additionally, NOVEL FlatIron, a luxury residential community, is under construction at the site. The phased opening of these facilities is expected to start in 2027, reflecting Macerich's commitment to enhancing its retail properties in alignment with current consumer preferences.
Potential Positives
- Pindustry will serve as an anchor tenant for the new HiFi mixed-use development, enhancing the appeal and marketability of the property.
- HiFi will feature a blend of entertainment, dining, and luxury living, creating a vibrant community hub and attracting more visitors to FlatIron Crossing.
- The development aligns with Macerich's strategy to invest in and improve its key properties, reinforcing its commitment to long-term growth and sustainability.
- Macerich's record in sustainability, evidenced by a decade of top GRESB rankings, positions the company favorably in an increasingly environmentally-conscious market.
Potential Negatives
- Phased openings for HiFi are not expected to begin until 2027, indicating a long wait for new developments and potentially delaying revenue generation.
- The reliance on Pindustry as an anchor may pose a risk if consumer preferences shift or if the entertainment concept does not resonate with the target market.
- The press release primarily focuses on future developments without addressing current challenges or performance metrics, which may raise concerns among investors about transparency and the company's present situation.
FAQ
What is HiFi at FlatIron Crossing?
HiFi is a 25-acre mixed-use outdoor hub featuring shopping, dining, entertainment, and residential living adjacent to FlatIron Crossing.
When will Pindustry open at HiFi?
Pindustry is set to open at HiFi during phased openings scheduled to begin in 2027.
What entertainment options will Pindustry offer?
Pindustry will include bowling, arcade games, a dance floor, a rooftop deck, and an outdoor beer garden for guests.
How is HiFi designed to benefit retailers?
HiFi's regional hub concept for 'All Things Fun' attracts new and existing retailers, enhancing their presence and success.
Where is FlatIron Crossing located?
FlatIron Crossing is situated in Broomfield, Colorado, along the bustling US-36 corridor between Denver and Boulder.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MAC Insider Trading Activity
$MAC insiders have traded $MAC stock on the open market 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $MAC stock by insiders over the last 6 months:
- ANDREA M STEPHEN sold 63,289 shares for an estimated $1,303,120
- JACKSON HSIEH (President and CEO) purchased 56,000 shares for an estimated $993,832
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$MAC Hedge Fund Activity
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- FMR LLC added 10,274,895 shares (+87.3%) to their portfolio in Q4 2024, for an estimated $204,675,908
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Full Release
A Media Snippet accompanying this announcement is available by clicking on this link.
SANTA MONICA, Calif., March 06, 2025 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of major retail properties in top markets, today announced that Pindustry will anchor HiFi, its mixed-use outdoor development project adjacent to premier retail destination FlatIron Crossing.
HiFi at FlatIron Crossing, Macerich’s thriving property in Colorado’s busy Denver-Boulder corridor, blends multifamily living, unique shopping, dining and entertainment with lush green spaces to create a new destination for all things fun. Pindustry – a two-level, locally owned entertainment destination – will join NOVEL FlatIron by Crescent Communities, a new, five-story, 345-unit luxury multifamily residential community, now under construction at HiFi.
Phased openings at HiFi are set to begin in 2027, including the openings of Pindustry and NOVEL FlatIron.
“An important aspect of our Path Forward Plan is investing in and fortifying our Fortress and Steady Eddy properties, which include FlatIron Crossing,” said Jack Hsieh, President and CEO, Macerich. “HiFi at FlatIron Crossing is designed to do exactly that, bringing together best-in-class entertainment and dining options, appealing green spaces for year-round programming, alongside luxury multifamily residences that deliver a built-in customer base for everything this thriving property has to offer its growing trade area.”
Macerich’s plans for HiFi at FlatIron Crossing fit well with what retailers, and their customers, want today. “HiFi’s positioning as a regional hub for ‘All Things Fun’ is a great way to express what we’re doing here from a leasing standpoint,” said Doug Healey, Senior Executive Vice President, Leasing, Macerich. “Exciting, new-to-market entertainment and dining experiences help drive more success for retailers across our best properties, and HiFi is already doing this at FlatIron Crossing – spurring tremendous interest from new concepts and encouraging existing retailers to invest in their presence here.”
More About HiFi at FlatIron Crossing
HiFi is the re-envisioned, 25-acre mixed-use outdoor hub with shopping, dining, entertainment and living adjacent to premier shopping destination, FlatIron Crossing. At its heart, HiFi features lush green spaces for all types of events and activations, from concerts and group fitness classes to farmers markets and festivals, infused with the spirit of shared connections and adventure. Designed for convenient, stylish living and enjoying life with unmatched walkability, HiFi broke ground in summer 2024.
Pindustry , the Centennial, Colorado-based entertainment company that has earned rave reviews for its dynamic combination of bowling, arcade games, food, cocktails and live music, will open its second location at HiFi at FlatIron Crossing. Pindustry at HiFi will offer 34,000 square feet of entertainment, including two levels of traditional and duckpin bowling, classic arcade games and pinball, billiards, a dart court and more. Guests can enjoy the elevated menu of shareable dishes, an outdoor beer garden, a rooftop deck, plus a dance floor and stage for live music.
For updates and information about HiFi at FlatIron Crossing, visit FlatIronCrossing.com/Redevelopment .
Located in Broomfield, Colorado, along the busy US-36 corridor between Denver and Boulder, FlatIron Crossing is a major retail property with nearly 200 popular retailers including Apple, DICK’S Sporting Goods, Dillard’s, Macy’s, AMC Theatres, lululemon, Crate & Barrel, Pottery Barn, Williams Sonoma, and restaurants including Bad Daddy’s Burger Bar, P.F. Chang’s and Red Robin.
About Macerich
Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 43 million square feet of real estate, consisting primarily of interests in 40 retail centers. Macerich is firmly dedicated to advancing environmental goals, social good, and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for ten consecutive years (2015-2024). For more information, please visit www.Macerich.com .
Macerich uses, and intends to continue to use, its Investor Relations website, which can be found at investing.macerich.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about Macerich can be found through social media platforms such as LinkedIn. Reconciliations of non-GAAP financial measures, including NOI and FFO, to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted on the Investor Relations website at investing.macerich.com .
MEDIA CONTACT: Arun Khosla, VP Corporate Communications, [email protected]
