Taubman Realty Group

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Taubman Realty Group is a shopping-center investment and management company formerly known as Taubman Centers.

Last updated August 31, 2026

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Overview

Taubman Realty Group is an American shopping-center investment and management business headquartered in Bloomfield Hills, Michigan. The company was founded in 1950 by A. Alfred Taubman and developed from a regional mall builder into a major owner, developer, and operator of high-end and destination-oriented retail properties. Its portfolio has included enclosed malls, open-air shopping centers, outlet centers, mixed-use developments, and international retail projects. The business opened its first shopping center, North Flint Plaza in Flint, Michigan, in 1953. Its first enclosed mall, Southland Mall in Hayward, California, followed in 1964. These early developments helped establish the company’s long-term emphasis on planned retail environments, strong architectural design, curated tenant mixes, and locations intended to serve as regional destinations rather than merely local convenience centers. The company was incorporated as Taubman Centers, Inc. in 1973 and became a public company through an initial public offering in 1992. Over subsequent decades, Taubman expanded and reshaped its portfolio through property sales, exchanges, joint ventures, and acquisitions. It sold or transferred numerous malls, including Southridge Mall, Queens Center, and a group of properties later sold to GM Pension Trust. It also exchanged Lakeside Mall for full ownership of Twelve Oaks Mall and entered partnerships involving prominent assets such as Country Club Plaza in Kansas City. The company’s portfolio included many high-profile properties, among them Beverly Center, Cherry Creek Shopping Center, City Creek Center, Dolphin Mall, Great Lakes Crossing Outlets, International Plaza and Bay Street, The Mall at Green Hills, The Mall at Millenia, The Mall at Short Hills, The Mall at University Town Center, The Mall of San Juan, Twelve Oaks Mall, Westfarms, and international centers in China and South Korea. Taubman’s business was affected by the structural pressures facing American retail real estate, including changing consumer shopping habits, tenant distress, competitive mall development, and the financial burdens associated with underperforming properties. The company transferred The Pier Shops at Caesars to lenders in 2011 and surrendered Regency Square to creditors in 2012. It subsequently sold several properties to institutional investors and other real estate companies. These transactions reduced exposure to selected assets while concentrating the portfolio around properties with stronger regional or luxury-retail characteristics. Simon Property Group agreed to acquire Taubman in 2020. Simon initially sought to terminate the transaction during the disruption caused by the COVID-19 pandemic, but the parties later amended the agreement, including a revised cash price of $43 per share. The merger closed in December 2020, making Taubman a subsidiary of Simon while preserving a continuing ownership interest for the Taubman family in the malls under the revised arrangement. The company continued to hold interests in shopping centers across the United States, Puerto Rico, South Korea, and China. In 2025, Simon Property Group completed a full buyout of the remaining company interests, according to the cited Wikipedia account. The Taubman name therefore represents both a historical mall-development enterprise and a portfolio platform within Simon Property Group. Its legacy is particularly associated with high-quality regional shopping centers, sophisticated mall design, premium tenant curation, and the development of retail properties intended to function as major civic and commercial destinations.

History

Taubman Realty Group traces its origins to 1950, when A. Alfred Taubman founded the business that would become one of the most recognizable American shopping-center companies. The enterprise opened North Flint Plaza in Flint, Michigan, in 1953 and entered the enclosed-mall format with Southland Mall in Hayward, California, in 1964. These developments established a model centered on planned retail environments, regional draw, architectural quality, and a deliberately assembled mix of national and specialty tenants. The company was incorporated as Taubman Centers, Inc. in 1973. It expanded its portfolio through development, ownership, management contracts, acquisitions, exchanges, and joint ventures. In 1987, it sold Southridge Mall in Milwaukee County. It became publicly traded through an initial public offering in 1992. During the 1990s, Taubman sold Queens Center to Macerich and transferred a substantial group of malls, including The Mall at Tuttle Crossing, Hilltop Mall, Marley Station, Meadowood Mall, Lakeforest Mall, Briarwood Mall, Stoneridge Shopping Center, The Falls Mall, and Columbus City Center, to GM Pension Trust. Taubman continued managing those properties until 2003, when they were sold again. In 2000, Taubman exchanged Lakeside Mall with Rodamco for full ownership of Twelve Oaks Mall. The company also faced a hostile acquisition attempt by Simon Property Group in 2003. Although the takeover attempt did not immediately result in a change of control, Simon later became Taubman’s acquirer. The company’s history also includes periods of financial pressure affecting individual assets. In 2011, The Pier Shops at Caesars were transferred to lenders, and in January 2012 Regency Square in Richmond, Virginia, was surrendered to creditors to avoid foreclosure. Portfolio rationalization continued during the 2010s. In 2014, Taubman sold Arizona Mills and land intended for The Mall at Oyster Bay to Simon Property Group. Later that year, it sold The Mall at Partridge Creek, MacArthur Center, Northlake Mall, The Mall at Wellington Green, Stony Point Fashion Park, The Shops at Willow Bend, and Fairlane Town Center to Starwood Capital Group. In 2016, Taubman and Macerich jointly acquired Country Club Plaza in Kansas City for $660 million. The company also maintained or developed interests in prominent properties such as Beverly Center, Cherry Creek Shopping Center, City Creek Center, Dolphin Mall, Great Lakes Crossing Outlets, International Plaza and Bay Street, The Mall at Green Hills, The Mall at Millenia, The Mall at Short Hills, The Mall at University Town Center, The Mall of San Juan, Sunvalley Shopping Center, Twelve Oaks Mall, Waterside Shops, and Westfarms, along with projects in China and South Korea. Founder A. Alfred Taubman died in April 2015 at the age of 91. His death marked the passing of the figure most closely associated with the company’s development philosophy and family control. The business subsequently entered a major ownership transition. In February 2020, Taubman agreed to be acquired by Simon Property Group. Simon announced in June that it was terminating the agreement, but the parties later renegotiated the arrangement. The amended deal included a revised cash consideration of $43 per share and closed in December 2020, making Taubman a Simon subsidiary. After the merger, Taubman continued to be associated with a portfolio of shopping centers in the United States, Puerto Rico, South Korea, and China. The company sold Stamford Town Center in 2020, and further ownership changes occurred at Fair Oaks Mall and Country Club Plaza in 2024. According to the cited account, Simon completed a full buyout of Taubman in November 2025. Taubman Realty Group consequently represents both a historic independent mall developer and a retail-real-estate platform absorbed into a much larger public property company.

2025
Full buyout by Simon Property Group
[1]Taubman Realty Groupen.wikipedia.org
Simon Property Group completed a full buyout of the company, according to the cited Wikipedia account.
2020
Simon merger closes
[1]Taubman Realty Groupen.wikipedia.org
Taubman’s revised merger with Simon Property Group closed in December, making Taubman a Simon subsidiary.
2016
Country Club Plaza acquisition
[1]Taubman Realty Groupen.wikipedia.org
Taubman and Macerich acquired Country Club Plaza in Kansas City through a joint venture for $660 million.
2000
Twelve Oaks ownership exchange
[1]Taubman Realty Groupen.wikipedia.org
Taubman exchanged Lakeside Mall with Rodamco for full ownership of Twelve Oaks Mall.
1992
Initial public offering
[1]Taubman Realty Groupen.wikipedia.org
Taubman became a public company through an initial public offering.
1973
Taubman Centers incorporated
[1]Taubman Realty Groupen.wikipedia.org
The company was incorporated as Taubman Centers, Inc.
1964
First enclosed mall opens
[1]Taubman Realty Groupen.wikipedia.org
Southland Mall opened in Hayward, California, marking the company’s entry into enclosed regional malls.
1953
First shopping center opens
[1]Taubman Realty Groupen.wikipedia.org
North Flint Plaza opened in Flint, Michigan, giving the company its first operating shopping-center project.
1950
Company founded
[1]Taubman Realty Groupen.wikipedia.org
A. Alfred Taubman founded the business that later became Taubman Realty Group.

Products and positioning

A premium shopping-center owner, developer, and operator associated with architecturally distinctive regional malls, affluent trade areas, destination retail, and curated tenant mixes.

Retail real estate · 1964
Regional enclosed shopping malls
The company’s core offering has been ownership, development, leasing, and management of large enclosed malls serving broad metropolitan or regional trade areas. These properties typically combine department stores, fashion retailers, restaurants, entertainment, and specialty tenants. Taubman’s mall strategy emphasized design, circulation, tenant curation, and destination appeal.
Retail real estate
Premium and luxury shopping centers
Taubman developed and operated properties positioned toward affluent consumers and premium national or international retailers. Examples include Beverly Center, The Mall at Short Hills, Cherry Creek Shopping Center, The Mall at Green Hills, and Waterside Shops. These centers rely on high-quality locations, upscale tenant mixes, strong design, and regional destination status.
Retail real estate
Outlet and destination retail centers
The portfolio has included outlet and destination-oriented properties such as Great Lakes Crossing Outlets and Dolphin Mall. These assets serve large catchment areas and combine value-oriented shopping with food, entertainment, tourism, and other traffic-generating uses.
International retail real estate
International shopping-center investments
Taubman held interests in shopping-center projects outside the continental United States, including CityOn Zhengzhou Shopping Center in China and Starfield Hanam in South Korea. These investments extended the company’s mall-development and operating model into international markets through ownership interests and partnerships.

Brand decisions

2024
Sell Country Club PlazaOther
Background
Taubman and Macerich reviewed their ownership of the Kansas City property amid continuing changes in the retail real-estate market.
Action taken
The partners sold Country Club Plaza to Dallas-based HP Village Partners.
Aftermath
Taubman exited its investment in the property.
Source
2020
Accept acquisition by Simon Property GroupM&A
Background
Taubman agreed to be acquired by Simon Property Group in a transaction that would end its independent status and alter the long-standing role of Taubman family control.
Action taken
After Simon announced an attempted termination in June, the parties revised the agreement, including a modified cash purchase price of $43 per share. The transaction closed in December 2020.
Aftermath
Taubman became a subsidiary of Simon Property Group, while the Taubman family retained an ownership interest under the revised arrangement.
Modified cash purchase price per share. $43.00 per share (November 2020)
Source
2016
Acquire Country Club Plaza with MacerichM&A
Background
Taubman and Macerich pursued a joint investment in the prominent Country Club Plaza retail property in Kansas City.
Action taken
The partners acquired Country Club Plaza for $660 million.
Aftermath
Taubman held the property through a joint venture until its sale with Macerich in 2024.
Acquisition price. $660 million (March 2016)
Source

Recent events

2025
Simon Property Group completes full Taubman buyout[1]Taubman Realty Groupen.wikipedia.org
M&A
Simon Property Group completed a full buyout of Taubman Realty Group, according to the cited Wikipedia account.
2024
Fair Oaks Mall ownership transfers to Olshan Properties[1]Taubman Realty Groupen.wikipedia.org
Other
Olshan Properties took ownership of Fair Oaks Mall from Taubman in connection with a long-term extension.
2024
Country Club Plaza sold to HP Village Partners[1]Taubman Realty Groupen.wikipedia.org
Other
Taubman and Macerich sold Country Club Plaza in Kansas City to Dallas-based HP Village Partners.
2020
Taubman and Simon Property Group agree to merger[1]Taubman Realty Groupen.wikipedia.org
M&A
Taubman agreed to be acquired by Simon Property Group in a transaction that would end the company’s independent family control while leaving the Taubman family with an ownership interest in its malls.
2020
Simon attempts to terminate Taubman merger before revised agreement[1]Taubman Realty Groupen.wikipedia.org
M&A · Other
During the disruption caused by the COVID-19 pandemic, Simon announced that it was terminating the merger agreement. The parties later reversed course and amended the transaction terms, including a revised cash price of $43 per share.
2020
Taubman becomes a Simon Property Group subsidiary[1]Taubman Realty Groupen.wikipedia.org
M&A
The revised merger between Taubman and Simon Property Group closed in December, bringing Taubman under Simon’s ownership.
2020
Taubman sells Stamford Town Center[1]Taubman Realty Groupen.wikipedia.org
Other
Taubman sold Stamford Town Center for $20 million as part of the continuing reshaping of its property portfolio.

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