Mills Corporation

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Mills Corporation

Type	Public NYSE: MLS
Founded	1985
Headquarters	Chevy Chase, Maryland
Industry	Real estate
Products	Shopping malls
Website	www.themills.com

The Mills Corporation (NYSE: MLS) is a publicly traded real estate investment trust headquartered in Chevy Chase, Maryland. The company develops, owns, and operates super-regional shopping malls. Mills has developed a large percentage of their own malls which usually include the title "Mills" as part of the name. The exceptions are those malls the company has acquired in recent years such as Del Amo Fashion Center and Southdale Mall. Those malls are called "21st Century Retail Malls." International properties are malls located throughout the world, including: Vaughan Mills, St. Enoch Centre, Madrid Xanadu, and Mercati Generali (opening 2008)

The company started in 1985 as the Western Development Company, and its first mall was Potomac Mills in the Washington, D.C., metropolitan area. The company had its IPO in 1994 as MLS, The Mills Corporation. ^[1] ^[2]

Most Mills facilities have a large movie theater with at least 14 screens, and a large, or even two food courts. Their facilities are normally built in modern/abstract architectural designs.

1 Muggsy's meadow
2 Acquisition
3 Operating centers
4 Under development
- 4.1 United States
- 4.2 Italy
5 References and Notes
6 External links

[edit] Muggsy's meadow

Through a partnership with Flying Rhinoceros, Inc., The Mills Corporation features "Muggsy's Meadow" at many of its mall locations. "Muggsy's Meadow" is a family and children-oriented program of live events and cartoons featuring the animated characters created by Flying Rhino. According to the Flying Rhinoceros website,

“

Muggsy's Meadow is a story about Muggsy Beaver who wandered into an empty meadow and instantly fell in love with the lake and the surrounding view. Over the years other creatures have moved into Muggsy's Meadow creating an amazing neighborhood.

”

"Muggsy's Meadow" is a form of edutainment which offers product tie-ins created by Flying Rhino for its "Fraboom Network" of cartoons ^[3] such as games, coloring books, and DVD movies.^[4] Each mall which features "Muggsy's Meadow" has a calendar of events, many of which are sponsored by Mills Corporation partners such as PBS, Discover or Coca-Cola. Events can include family-friendly movie showings, and are often held in or around a mall's food court and children's play areas.

[edit] Acquisition

On January 17, 2007, the Mills Corporation agreed to a buyout from Brookfield Asset Management, based out of Toronto. The deal was valued at US$1.35 billion. The company was forced to seek help after a possible management misconduct resulted in a $350 million accounting error. Brookfield will pay $21 for each share of Mills Corporation.^[5] On February 13, 2007, Mills announced ^[6] that their board has determined that a competing offer from Simon Property Group of Indianapolis is superior to the Brookfield offer. At this time, Brookfield has the option to submit a counter offer. On February 16, 2007 Simon Property Group and Farallon Capital agree to acquire The Mills for $25.25 Per Common Share.

[edit] Operating centers

Arizona Mills - Tempe (Phoenix), Arizona
Arundel Mills - Hanover (Baltimore), Maryland
The Block at Orange - Orange, California (Anaheim, Los Angeles)
Briarwood Mall - Ann Arbor, Michigan
Broward Mall - Plantation, Florida
Cincinnati Mills - Cincinnati, Ohio
Colorado Mills - Lakewood (Denver), Colorado
Concord Mills - Concord (Charlotte), North Carolina
Colonnade Outlets at Sawgrass - Sunrise (Fort Lauderdale), Florida
Columbus City Center - Downtown Columbus, Ohio
Del Amo Fashion Center - Torrance (Los Angeles), California
Discover Mills - Lawrenceville (Atlanta), Georgia
Dover Mall - Dover, Delaware
The Esplanade - Kenner (New Orleans), Louisiana
The Falls - Miami, Florida
Franklin Mills - Philadelphia, Pennsylvania
Galleria at White Plains - White Plains (New York City), New York
Grapevine Mills - Grapevine (Dallas), Texas
Great Mall of the Bay Area - Milpitas (San Jose), California
Gurnee Mills - Gurnee (Chicago), Illinois
Hilltop Mall - Richmond, California
Katy Mills - Katy (Houston), Texas
Lakeforest Mall - Gaithersburg, Maryland (Washington, D.C.)
The Mall at Tuttle Crossing - Dublin, Ohio (Columbus, Ohio)
Marley Station - Glen Burnie (Baltimore), Maryland
Meadowood Mall - Reno, Nevada
Northpark Mall - Ridgeland, Mississippi
Ontario Mills - Ontario, California (Los Angeles)
Opry Mills -Nashville, Tennessee
Potomac Mills - Woodbridge, Virginia (Washington, D.C.)
Sawgrass Mills - Sunrise, Florida (Fort Lauderdale)
The Shops at Riverside - Bergen, New Jersey
Southdale Center - Edina (Minneapolis), Minnesota
Southridge Mall - Milwaukee, Wisconsin
Stoneridge Mall - Pleasanton, California
St. Louis Mills - Hazelwood (St. Louis), Missouri
Westland Mall - Hialeah (Miami), Florida

Formers owners: (Sold to Ivanhoe Cambridge in October 2006)

Madrid Xanadu - near Madrid, Spain Built in 2003 by The Mills.
St. Enoch Centre - Glasgow, Scotland Acquired in January 2005.
Vaughan Mills - (Toronto, Ontario) Built in 2004 and the first Mills landmark outside the U.S., sold share in mall in July 2006.
Pittsburgh Mills - Tarentum (Pittsburgh), Pennsylvania Built in 2005, was the first Mills landmark to feature full priced stores, sold share in mall in December 2006.