Taubman has been a leader in the regional shopping center industry for over 50 years.
Founded in 1950 by entrepreneur A. Alfred Taubman, our organization is recognized as one of the preeminent retail developers/owners/ managers in the United States, and our properties are among the most productive in the nation. In November, 1992, Taubman Centers, Inc. (TCO), a real estate investment trust, debuted on the New York Stock Exchange.
Taubman Centers creates extraordinary retail environments for shoppers, merchants, communities and investors. Our portfolio of United States regional and super regional malls, located in major markets from coast to coast, is the most productive in the nation with 2007 sales per square foot averaging $555. Through our Taubman Asia subsidiary, we are extending the company's unsurpassed retail real estate expertise to international markets.
In 2007, Taubman Centers' common stock performance was significantly better than any other mall REIT and in the top 15 percent of the more than 120 U.S. REITs. Taubman Centers' common stock has now provided a nearly 21 percent compound annual return over the past 10 years, the best return of any U.S. REIT.