DOLPHIN MALL OPENS WITH A SPLASH IN MIAMI
Released: 03/01/01
CONTACT:
Karen Mac Donald
Director, Communications
Taubman Centers, Inc.
(248) 258-7469
(248) 258-7697 fax
kmacdonald@taubman.com
Barbara K.Baker
Vice President, Investor Relations
Taubman Centers, Inc.
(248) 258-7367
bbaker@taubman.com
FOR IMMEDIATE RELEASE
GRAND OPENING BEGINS BUSY GROWTH PERIOD FOR TAUBMAN CENTERS
MIAMI, Fla., March 1 - Dolphin Mall opened its doors to eager shoppers today in Miami. The 1.4 million square foot value retail/entertainment center is Miami-Dade County's largest, featuring more than 150 stores, eateries and entertainment venues with another 50 concepts debuting by mid-summer. Developed by Taubman Centers Inc. (NYSE:TCO)
and Swerdlow Real Estate Group,Dolphin Mall is expected to be one of the Miami area's top tourist destinations.
Located just five miles west of Miami International Airport at the intersection of the Florida Turnpike and Dolphin Expressway, the new center is introducing more than 100 new-to-the-market stores, including many Latin American retailers entering the continental United States for the first time.
"Dolphin Mall brings a new level of shopping and entertainment excitement to the residents and visitors of South Florida," said Robert S. Taubman, president and chief executive officer of Taubman Centers. "We and our partners at Swerdlow Real Estate Group are confident the center will take its place among the nation's most popular and productive value regional malls."
Dolphin Mall anchor tenants include Miami-Dade's first Dave & Buster's, Off 5th Saks Fifth Avenue Outlet Store, F.Y.E. - For Your Entertainment, Group U.S.A. - The Clothing Store, an interactive Oshman's SuperSports USA and the first east coast Hilo Hattie store. Other anchors include Burlington Coat Factory, Linens 'N Things, MARS Music, Marshalls Megastore, Old Navy, Ross Dress for Less and Forever XXI (coming soon). A 19-screen Cobb Theatres cinema megaplex will open this summer.
New-to-Florida specialty shops include Baker's Outlet, Cristina Nicole, Epic Designs, Eye Candy, Giorgio's Designer Outlet, Norka & Co., Seen on Screen-As Seen on TV, Taha Shoes Outlet, and World Traveler Outlet. Debuting in Miami-Dade County are such stores as bebe Outlet, Bombay Outlet, Carter's Outlet, Levi/Dockers Outlet by Designs, Mikasa Factory Store, Motherhood Maternity Outlet, Planet X, Quicksilver Outlet, Wilson's Leather Outlet and Zales the Diamond Store Outlet .
Dolphin Mall's offerings - which include an outdoor plaza and 850-seat food court - are presented along an oval path divided into paseos (walkways) and shopping zonas (zones), complementing Miami's rich cultural and architectural traditions. The center's three zonas - Ramblas (walk), Playa (beach) and Moda (style) - are distinctively designed and merchandised to add convenience as well as excitement to the Dolphin shopping experience. Pepsi has signed on as the official sponsor of the Playa zone.
Today's Dolphin Mall grand opening begins a busy period of growth for Taubman Centers. Four Taubman properties totaling more than 5 million square feet of new retail space are under construction and scheduled for completion in the next 18 months. International Plaza (Tampa, Florida), The Shops at Willow Bend (Plano, Texas) and The Mall at Wellington Green (Palm Beach County, Florida) will open in 2001. The Mall at Millenia (Orlando, Florida) will debut in 2002.
Taubman Centers Inc., a real estate investment trust, owns, develops, acquires and operates regional shopping centers nationally. Headquartered in Bloomfield Hills, Michigan, the company currently owns and/or manages 28 urban and suburban regional and super regional shopping centers in 12 states.
Swerdlow Real Estate Group, Inc. is a private real estate investment trust (REIT) involved in a broad range of ownership, development, management and leasing activities. The company, headquartered in Hollywood, Florida, is one of South Florida's largest real estate operating companies. The firm owns and operates a portfolio of shopping centers, retail entertainment, office, and distribution properties totaling approximately seven million square
feet, with another five million square feet of telecommunications and information technology properties under development through its affiliate LightSpeed Infrastructure.