Macerich is offering digital companies shorter, more flexible leases in an attempt to attract more businesses to its malls. While Macerich’s normal lease term tends to span three years to a decade, its BrandBox spaces come with a much shorter commitment of between six months to a year. Through its BrandBox initiative, which is in use at the company's Tysons Corner Center mall in Washington DC, the real estate investment trust allows firms to rent retail space for between six months and a year rather than the typical minimum of three years, attracting smaller digital firms that are interested in trying out a retail presence but do not want a long-term commitment. The company has also been experimenting with leasing spaces on its own property as well as those owned by other companies.
Macerich is offering digital companies shorter, more flexible leases in an attempt to attract more businesses to its malls. Through its BrandBox initiative, which is in use at the company's Tysons Corner Center mall in Washington DC, the real estate investment trust allows firms to rent retail space for between six months and a year rather than the typical minimum of three years, attracting smaller digital firms that are interested in trying out a retail presence but do not want a long-term commitment. The company has also been experimenting with leasing spaces on its own property as well as those owned by other companies.