Taubman Centers ( NYSE: TCO) is an owner of regional malls in the United States, and has headquarters in Bloomfield Hills, Michigan. The Taubman Asia subsidiary is headquartered in Hong Kong. It has the highest selling portfolio of malls (by Square Foot Sales) in any mall company in the United States.
Taubman was founded in 1950 by real estate pioneer
A. Alfred Taubman. The company stock began trading on the New York Stock Exchange in 1992 as a Real Estate Investment Trust. Most of the malls developed by Taubman have a very similar interior design. Many feature an upscale, bright white color scheme with contemporary, geometric ceiling designs and skylights.
The current Chief Executive Officer is
Robert S. Taubman, the son of A. Alfred Taubman. Currently owned/managed by Taubman [edit ] Arizona Mills - Tempe, Arizona (50% equity stake, managed by Simon Property Group) Beverly Center - Los Angeles, California Cherry Creek Shopping Center - Denver, Colorado City Creek Center - Salt Lake City, Utah Dolphin Mall - Sweetwater, Florida Fair Oaks Mall - Fairfax, Virginia Fairlane Town Center - Dearborn, Michigan The Gardens on El Paseo and El Paseo Village - Palm Desert, California Great Lakes Crossing Outlets - Auburn Hills, Michigan International Financial Center (IFC) - Seoul, South Korea International Plaza - Tampa, Florida MacArthur Center - Norfolk, Virginia The Mall at Green Hills - Nashville, Tennessee The Mall at Millenia - Orlando, Florida (50% equity stake, managed by The Forbes Company) The Mall at Partridge Creek - Clinton Township, Michigan The Mall at Short Hills - Short Hills, New Jersey The Mall at Wellington Green - Wellington, Florida Northlake Mall - Charlotte, North Carolina The Shops at Willow Bend - Plano, Texas Stamford Town Center - Stamford, Connecticut Stony Point Fashion Park - Richmond, Virginia Sunvalley Shopping Center - Concord, California (50% equity stake, with A. Alfred Taubman) Twelve Oaks Mall - Novi, Michigan Waterside Shops - Naples, Florida (50% equity stake, managed by The Forbes Company) Westfarms - Farmington, Connecticut Upcoming Centers [edit ] Taubman America [edit ] Taubman Asia [edit ] Under Construction [edit ] Former properties [edit ] Arborland Consumer Mall - Ann Arbor, Michigan (sold to Simon Property Group 1985, torn down 1999) Bellevue Center - Nashville, Tennessee (surrendered in 1995 to banks) Briarwood Mall - Ann Arbor, Michigan (traded to GM Pension Trust 1998, management ended 2003) Columbus City Center - Columbus, Ohio (traded to GM Pension Trust 1998, management ended 2003) Fairlane Meadows — Dearborn, Michigan The Falls Mall - Miami, Florida (traded to GM Pension Trust 1998, management ended 2003) Hilltop Mall - Richmond, California (traded to GM Pension Trust 1998, management ended 2003) Lakeforest Mall - Gaithersburg, Maryland (traded to GM Pension Trust 1998, management ended 2003) Lakeside Mall - Sterling Heights, Michigan (traded 2000 to Rodamco for full ownership of Twelve Oaks) The Mall at Tuttle Crossing - Dublin, Ohio (traded to GM Pension Trust 1998, management ended 2003) Marley Station - Anne Arundel County, Maryland (traded to GM Pension Trust 1998, management ended 2003) Meadowood Mall - Reno, Nevada (traded to GM Pension Trust 1998, management ended 2003) North Flint Plaza - Flint, Michigan ( first Taubman shopping center, opened 1953) The Pier Shops at Caesars - Atlantic City, New Jersey ( ownership ended in 2011, mall sold at auction to C III Capital Partners LLC) Queens Center - Queens, New York Regency Square - Richmond, Virginia (returned to creditors to avoid foreclosure, December 29, 2010 - SEC filing) [2 ] Rockaway Townsquare - Rockaway, New Jersey ( sold to Simon in 1999) Santa Fe Springs Mall — Santa Fe Springs, California (built 1985 by Dean A. Beck, sold to Taubman 1990, torn down) [3 ] Southridge Mall - Greenfield, Wisconsin (sold 1987) Southland Mall - Hayward, California ( first enclosed mall opened by Taubman) Southpark Mall - Colonial Heights, Virginia (Gained in acquisition deal with Faison in 1995, sold back to Faison shortly after)) Stoneridge Shopping Center - Pleasanton, California (traded to GM Pension Trust 1998, management ended 2003) Virginia Center Commons - Glen Allen, Virginia (Gained in acquisition deal with Faison in 1995, sold to Simon Property Group shortly after) Woodland Mall - Grand Rapids, Michigan (sold to Pennsylvania REIT 2006) Woodfield Mall - Schaumburg, Illinois (no equity stake, management only, management ended 2012 when Simon Property Group purchased a stake in the center and took over management.) Restatement [edit ]
On May 3, 2000, the company restated financial statements to reflect the adoption of Staff Accounting Bulletin 101.
On February 8, 2005, For 2004 to be consistent with industry practice, the company began adding back depreciation that is included in recoverable expenses and has restated 2003 to be comparable. [4 ] [5 ] See also [edit ] References [edit ] External links [edit ]