Macerich's Luxe Division
Santa Monica–based real estate investment trust The Macerich Co. has created a new luxury property division called Lumenati, which will operate upscale shopping centers Broadway Plaza, Carmel Plaza, The Oaks, Santa Monica Place and The Village at Corte Madera in California, as well as the Biltmore Fashion Park, La Encantada and the Scottsdale Fashion Square in Arizona. Luxury is a growth area, according to Macerich’s senior vice president of marketing, Tracey Gotsis. “The luxury segment continues to expand. In our justcompleted proprietary research, luxury retailers told us they have fairly aggressive expansion plans over the next 36 months—with the West poised for most growth,” she said.
