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After navigating almost two full years battling the impact of COVID, The Macerich Co.’s Q3 numbers were “outstanding” thanks to retailer demand. That is according to CEO Tom O’Hern, on the REIT’s Q3 earnings call. O’Hern noted that shoppers have come roaring back as US consumers are continuing to shop with a purpose. 

“We see a higher capture rate than pre-COVID,” he said, adding that sales are exceeding pre-COVID levels with double-digit gains in the past two quarters compared to 2019. And that momentum, he said, is carrying into the fourth quarter. “Retailer demand is at a level we have not seen since 2015.”

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