Taubman Centers

Taubman Centers

Alfred Taubman founded the company in 1950, starting with a single shopping center in Flint, Michigan. The Taubman family retained control through multiple corporate structures — first a private developer, then a public REIT — and the three brothers now in executive roles mark the third generation of family involvement. The underlying wealth derives from real estate development and the innovation of the enclosed regional mall format. Taubman Centers focuses exclusively on high-end retail real estate — owning, leasing, and managing super-regional shopping centers anchored by luxury brands such as Apple, Louis Vuitton, and Nordstrom. The portfolio includes 24 malls in the US and a 50% stake in 11 properties across Asia, primarily in China and South Korea. The firm targets aspirational and luxury retail, with properties in major metropolitan areas including Los Angeles, San Francisco, New York, and Honolulu. Notable assets include The Mall at Short Hills in New Jersey and Beverly Center in Los Angeles. The REIT owns or operates roughly 26 million square feet of leasable space. Its Asian operations, run through a joint venture with three global sovereign wealth funds, include mega-malls such as Starfield Hanam in Seoul and IFC Mall in Shanghai. The firm employs a lean corporate structure — around 40 professionals at the Bloomfield Hills headquarters — supplemented by regional leasing and property management teams. In 2022, the company completed a merger with Simon Property Group, after which it re-emerged as an independent public entity focused on luxury retail. Taubman Centers is structurally distinct as a family-controlled public REIT — the Taubman family owns roughly 60% of voting power through a dual-class stock structure, giving it operational control while accessing public market capital. This hybrid model allows long-term investment horizons typical of family offices while maintaining the liquidity and transparency of a public company. The Asia joint venture, seeded with $1.8B of institutional capital, provides a parallel structure for international expansion.