Taubman Centers (TCO)

Michigan-based Taubman Centers, Inc. (TCO) is a real estate investment trust (REIT) engaged in owning, developing, acquiring, and operating regional shopping centers throughout the US. Currently, the company owns and/or manages a diverse portfolio of 23 urban and suburban regional shopping centers, most of which are "super regional," with a gross leasable area (GLA) of more than 800,000 square feet per center, spanning 11 states with over 24.7 million square feet of GLA (including joint venture interests). A large number of these shopping centers are strategically located in major metropolitan areas, which include Los Angeles, San Francisco, Denver, Detroit, Phoenix, Miami, Dallas, Tampa, Orlando, and Washington D.C. The company's five largest non-anchor tenants are: The Gap (3.5% of mall GLA as of September 30, 2008), Forever 21 (3.2%), Limited Brands (2.5%), Abercrombie & Fitch (2.5%), and Foot Locker (1.9%).

TCO, the operating arm, has a 66.6% managing general partner's interest in Taubman Realty Group LLC (TRG), the legal holding company. The total company has about 81 million shares outstanding, including over 53 million shares publicly traded under the TCO ticker.

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