SANTA MONICA, Calif., April 4, 2018 /PRNewswire/ -- Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of retail properties in top markets, today announced b8ta at Santa Monica Place has been named "Store of the Year" by the 47th Annual Shop! Awards honoring the world's best retail design.
With its award-winning flagship store at Santa Monica Place, b8ta – a software-powered retailer of new and innovative products – is bringing together shoppers and technology products in a highly tactile, physical retail setting. Santa Monica Place is a hub for digitally native vertically integrated brands, like b8ta's breakthrough concept, where visitors can touch, try and demo products before they buy. Others finding success at Santa Monica Place include Chubbies, Ministry of Supply, Monica + Andy, and Peloton.
Digitally native vertically integrated brands with a growing presence at Macerich properties around the country include many of these names plus Blue Nile, Dyson, Morphe, UNTUCKit, Warby Parker and more.
"Macerich is deliberately making room for digitally native vertically integrated brands, and we think of our portfolio in part as a laboratory where people can experience new brands and new technology in new ways," said Art Coppola, Chairman and CEO, Macerich. "Demand from these growing concepts underscores the power of our well-placed properties as connection points for shoppers, retailers and brands of all kinds in the physical world."
For b8ta, Santa Monica Place offers both access to an affluent, tech-focused market and a retail setting right for reaching people with new ideas. "At b8ta, we're building a new type of retail store, designed as a platform for product discovery," said Vibhu Norby, b8ta's CEO. "We chose Santa Monica Place because of its tech-forward demographics – and because it succeeds in drawing people who want to intentionally shop and explore."
Said Norby, "At b8ta, we believe our differentiator is simplifying how tech producers can access in-person retail. Macerich is doing much the same thing in making its properties attractive and easily accessible to concepts like b8ta at Santa Monica Place."
Now with a store fleet of nine retail locations and a presence in 70 Lowe's stores nationwide, b8ta also was recognized by the Shop! Awards for its real-time data for technology makers on how people interact with their products inside b8ta stores. Shop! is a global non-profit trade association dedicated to enhancing retail environments and experiences and represents more than 1,500 member companies worldwide.
Santa Monica Place, located steps away from the Pacific Ocean, is home to Bloomingdale's, Nordstrom, Louis Vuitton, Tiffany & Co., Tory Burch, DVF, Hugo Boss, BARNEYS NEW YORK, Nike, dozens more shops and an inspired collection of restaurants and entertainment experiences including True Food Kitchen, The Cheesecake Factory, Sonoma Wine Garden, ArcLight Cinemas and more. Later this year, The Cayton Children's Museum by ShareWell (currently operating in Los Angeles as The Zimmer Children's Museum) is set to open its new, larger location at Santa Monica Place.
b8ta's mission is to make retail accessible for all. b8ta brings makers closer to customers in real life, allowing everyone to discover, try, and learn about new products firsthand. b8ta, a software-powered retailer, was founded in 2015 by Vibhu Norby (CEO), Phillip Raub (President), and William Mintun (COO). To learn more about b8ta, visit b8ta.com.
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, D.C. corridor.
A recognized leader in sustainability, Macerich has earned NAREIT's prestigious "Leader in the Light" award every year from 2014-2017. For the third straight year in 2017 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments. Additional information about Macerich can be obtained from the Company's website at www.macerich.com