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Mills Corporation

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The Mills Corporation (The Mills) is a publicly-traded real estate investment trust headquartered in Chevy Chase, Maryland, United States. The company developed, owns, and operates major super-regional shopping malls. The company built 18 "Landmark" centers in which the malls were named after "Mills", like "Vaughan Mills," or "St. Louis Mills"; and also over 20 "21st Century Retail" regional malls that they started operating in 2002, like Del Amo Fashion Center and Southdale Center. Most Mills facilities have a large movie theater from 10–30 screens, a large food court (sometimes two), and a least two restaurants. Their facilities were normally built in colorful modern/abstract architectural designs, but in recent years have been renovated to more conventional designs with mainly neutral colors.

Company History[]

The company started in 1967 as the Western Development Corporation, and its first mall was Potomac Mills in the Washington, D.C. metropolitan area in 1985. Then from 1989–1991, Franklin, Sawgrass, & Gurnee Mills opened each of those years, respectively. In 1994 the company converted to REIT status and changed its name to "The Mills Corporation".

In 1996, with new CEO Lawrence Siegel, The Mills built Ontario Mills near Los Angeles, which was the company's first mall built abstractly and with a full oval racetrack design which followed into the rest of the company's built malls. Since opening Ontario Mills until 2005 with Pittsburgh Mills, The Mills built and opened at least one or two landmark malls each year.

In 2002, The Mills acquired six regular retail malls including the ailing Forest Fair Mall (became Cincinnati Mills from 2004–2009, now known as The Mills at Forest Fair) and a nine mall portfolio in 2004, including former Taubman Centers, like Columbus City Center in order to redevelop & expanded to be more affordable centers. Also, the company also expanded to Europe with the opening of Madrid Xanadú in Spain.

The success of Madrid Xanadú prompted The Mills to embark on the $1 billion+ Meadowlands Xanadu complex in 2004, which was first planned as "Meadowlands Mills," but the project has caused numerous delays and cost the company financially.

In November 2004, Vaughan Mills was the first Mills Landmark built in Canada, and continued its international success with the acquisition of the St. Enoch Centre in Scotland and was offered to build a center in Rome, Italy.

After their last built mall was opened, Galleria at Pittsburgh Mills in July 2005, the company was investigated by the Securities & Exchange Commission for its financial problems.

In 2012, The Mills acquired Carousel Center in Syracuse, New York giving the mall a complete remodel and new name, "DestiNY USA". It was one of The Mills' most ambitious project along with the Meadowlands Xanadu project.

In 2015, Glichmer Property Trust was acquired by the Mills Corporation. In 2018, The Mills Corporation acquired Kohan Retail Investment Group. In Late 2019, The Mills Corporation announced a merger with the Canadian real estate partner Ivanhoé Cambridge, the final company being The Mills Corporation.

Properties[]

See also: Mills Corporation/Properties

The majority of the Mills Corporation's malls are kind of a mix of a regular and an outlet mall.

Landmark Mills (AKA "The Mills"; the property group's flagship chain)[]

21st Century Retail & Entertainment[]

Ironworks[]

The Block[]

Xanadu[]

  • Madrid Xanadu (2003-present)
  • Meadowlands Xanadu (2010-present)
  • Power Plant Xandau (1990-present) - Acquired 2013
  • Sydney Xandau (2016-present)
  • Aloha Xandau (2017-present)
  • Xanadu Aces (2018-present)

Mills Entertainment[]

Landmark "Shoppertainment"[]

Xanadu - The "Worlds" of Adventure[]

Entertainment Complexes[]

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