Shoppers Welcome Sarasota's Premier Shopping Destination

BLOOMFIELD HILLS, Mich., Oct. 16, 2014 /PRNewswire/ -- Thousands of Southwest Florida residents and visitors were the first to shop The Mall at University Town Center ("UTC") at its grand opening today in Sarasota, Fla.

Featuring more than 100 retailers and restaurants, well over half of which are unique to the Sarasota-Manatee market, The Mall at UTC is the only newly built enclosed regional shopping center to open in the United States this year.

The 73-acre Mall at UTC, located at the southwest corner of I-75 and University Parkway, is the focal point of a larger, 276-acre University Town Center development featuring additional retail, dining and hotels, with a world-class rowing competition facility located immediately adjacent. The 880,000-square-foot mall was developed through a partnership between Taubman and Benderson Development Company, LLC.

"We're excited to open The Mall at University Town Center," said Robert S. Taubman, chairman, president and CEO of Taubman Centers. "The new center fills a huge void in the Sarasota-Manatee retail market. It's a world class, state-of-the-art experience for local shoppers and tourists alike."

"We have eagerly anticipated the opening of The Mall at University Town Center," said Randy Benderson, CEO of Benderson Development. "It's gratifying to see our vision for the University Town Center development continue to be realized, and to have such an overwhelming public response. The center truly has exceeded our and the community's expectations."

Saks Fifth Avenue, Macy's and Dillard's anchor The Mall at UTC's premier retail offerings. Some of the unique to market merchants include Apple, Kate Spade, Michael Kors, Stuart Weitzman, lululemon athletica, Anthropologie, J.Crew, H&M, Lucky Brand, Crate & Barrel, L'Occitane and Tesla Motors. Dozens more national brands such as Boston Proper, Brooks Brothers, Janie and Jack, Gap and Talbots complement the unique offerings, as do a number of local favorites including Jackie Z Style Co., TINA Stephens and Sweet Doctors. Distinctive dining options such as The Cheesecake Factory, BRIO Tuscan Grille, Seasons 52, The Capital Grille, Kona Grill and Burger & Beer Joint (coming soon) make The Mall at UTC a shopping and dining destination.

More than 100 retailers and restaurants opened at The Mall at UTC today, with approximately 15 more slated to open by year-end and several more debuting in 2015. A listing of all stores and restaurants can be found at www.mallatutc.com/media_stores.

In addition to its unique collection of retailers, The Mall at UTC offers a number of high-tech, customer-focused amenities, including a Visit Sarasota Visitors Center, electric car charging stations, free Wi-Fi, interactive touchscreen directories and numerous electronics charging stations, along with valet parking and a children's play area.

The center's striking design embraces the Southwest Florida setting with soaring, light-filled spaces and elegantly detailed, natural building materials including wood, glass, metal and fossil stone. A vaulted skylight runs the entire north-south length of the mall and glows with color-changing LED lighting at night. Native and eco-friendly landscaping, green and Smart Building practices, water and energy conservation and recycling are just a few features of the center's environmentally friendly sustainability program.

About The Mall at UTC

The Mall at UTC opened Oct. 16, 2014. Located at I-75 and University Parkway, this world-class fashion and dining destination features approximately 880,000 square feet of retail space with Saks Fifth Avenue, Macy's, Dillard's and more than 100 specialty stores and restaurants. Showcasing many distinctive retailers not found anywhere else in the local market, the center offers visitors a diverse mix of upscale, fashion and lifestyle retailers, popular favorites, sit-down restaurants and a children's play area. Shopping hours are 10 a.m. to 9 p.m. Monday through Saturday; 11 a.m. to 6 p.m. Sunday. For holiday hours, information and updates, visit www.mallatutc.com. Like us on Facebook: www.facebook.com/MallatUTC. 

About Benderson Development

Sarasota-based Benderson Development is one of America's largest privately held real estate companies. Benderson owns and manages its holdings, which consist of more than 40 million square feet in 38 states. The diverse Benderson portfolio includes retail, office, industrial and hotel properties. For more information about Benderson, visit www.benderson.com.

About Taubman

Taubman Centers, Inc. (NYSE: TCO), is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 28 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing five properties in the U.S. and Asia totaling 4.7 million square feet. Taubman, with over 60 years of experience in the shopping center industry, is headquartered in Bloomfield Hills, Mich., and Taubman Asia is headquartered in Hong Kong. www.taubman.com Twitter: @TaubmanCenters

For ease of use, references in this press release to "Taubman Centers," "company," "Taubman" or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties.  You should review the company's filings with the Securities and Exchange Commission, including "Risk Factors" in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

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SOURCE Taubman Centers, Inc.

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