-Expansion Reflects Dillard’s Significant Investment in Lubbock Market-

SANTA MONICA, Calif., November 15, 2022 /PRNewswire/ — Macerich (NYSE: MAC), a leading national owner, operator and developer of unique commercial and mixed-use properties in major markets, today announced that Dillard’s (NYSE: DDS) will build a new, larger store to replace its existing operations at the South Plains Shopping Center in Lubbock, TX.

“We couldn’t be happier that Dillard’s is expanding its presence in Southern Plains, from Lubbock main retail destination,” said Ed Coppola, Macerich President. “Shoppers across the United States rely on Dillard’s curated selection of smart, high-quality fashion lines, beauty offerings and homewares. The brand’s expansion into Lubbock is a testament to Dillard’s long history of satisfying customers with compelling products and exceptional service, its strength as a business, and the continued appeal of South Plains Mall.”

The new 220,000 square foot flagship store will take over the former Sears site, replacing the two locations Dillard currently occupies at the South Plains Mall.

CEO of Dillard William T. Dillard II said, “We are thrilled to expand our presence at the South Plains Mall, further strengthening the center as one of west texas’ premier shopping destinations. Today’s announcement highlights and celebrates our 50-year service commitment to our Lubbock-customers in the area.” Mr. Dillard noted that Dillard opened his South Plains Mall store in July 1972.

The new store will feature Dillard’s latest improvements in design, merchandising and technology and will feature a range of premium brands specifically tailored to Dillard’s tastes and preferences. West Texas clients. Construction is expected to begin immediately, with an expected opening date of early 2024.

To Southern Plains, the move also creates an attractive opportunity for new or expanding tenants to lease prime locations, Coppola said. “We’re proud to continue our relationship with Dillard’s at South Plains Mall, and we’re excited about the opportunity to bring other retailers to this essential shopping, dining and entertainment destination for West Texas and Lubbock.”

The local impact of the new store, Lubbock Mayor Payne Tray said: “South Plains Mall is more than a place to shop and dine – it’s a hub that draws people from all over West Texas come and enjoy Lubbock. The new Dillard’s store will provide more opportunities for people who live in or visit Lubbockand it’s good for our economy and our community.”

About Dillard

Dillard’s was founded by William T. Dillard in 1938 in Nashville, Arkansaswith a $8,000 investment in a local department store. Today, Dillard’s, Inc. ranks among the nation’s largest fashion retailers, operating 249 Dillard locations and 28 clearance centers spanning 29 states and an online store at dillards.com. The Company is focused on providing style, quality and value to its customers by offering premium fashion apparel, beauty and home collections from national and exclusive brand sources. Dillard’s complements this curated assortment of products with exceptional, customer-focused customer service.

About South Plains Mall

Southern Plains is a regional shopping, dining and entertainment center featuring a wide variety of specialty stores including Dillard’s, JCPenney, H&M, Pandora, PINK and Hollister. It is also home to restaurants such as The Cheesecake Factory, Uncle Julio’s, Bubba’s 33, Olive Garden, Jamba, and Chick-fil-A, as well as Premiere Cinemas & IMAX. For more information, please visit southplainsmall.com.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality commercial real estate in densely populated and attractive U.S. markets, Macerich’s portfolio focuses on Californiathe Pacific Northwest, Phoenix/Scottsdaleand the New York subway at washington d.c. corridor. Developing and managing properties that serve as cornerstones of the community, Macerich currently owns 48 million square feet of real estate consisting primarily of interests in 44 regional town centers. Macerich is strongly committed to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has earned a GRESB #1 ranking for the North American retail sector for eight years (2015-2022). For more information, please visit www.Macerich.com.

SOURCE Macerich Company

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