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Apple About to Open Store 200

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On October 26th Apple's retail operation will cross a milestone: the grand opening of store #200 at the SanTan Village shopping center in Gilbert (Ariz.) October 26th, the same day of the reported release of Leopard, the OS X update. It will have been just 2,251 days since Apple opened their first store at the Tysons Corner (Virg.) shopping center, or an average of one store opening every 11.7 days. Revenues started at zero on day one, hit $100 million 16 months later, and hit $500 million just over two years later. The retail operation tallied $1 billion in sales in just over four years, setting an industry record for reaching that mark. Apple will hold a conference call about its fourth-quarter financial results on October 22nd, during which officials said they would detail the number of store openings during fiscal 2008.

Seen here.

Isn't it funny how some things work out.

SanTan Village, which celebrates it grand opening in about 10 days, is a Westcor project.

Westcor is a division of Macerich Co. (In fact, San Tan is the first ground-up development project that will open since Macerich purchased Westcor a few years ago).

Meanwhile, Macerich Co. now owns Tyson's Corner, where Apple's first store opened. I didn't own Tyson's at the time, but got control of the property when it purchased Wilmorite a couple years back.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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