Crabtree

What Crabtree does

Crabtree (doing business as Crabtree Valley Mall) is a Class-A regional shopping mall located at 4325 Glenwood Avenue in Raleigh, North Carolina, and has operated since 1979. It is the largest retail property in North Carolina's high-growth Research Triangle (Raleigh-Durham) market, housing more than 200 tenant storefronts across fashion (Apple, H&M, lululemon, Banana Republic, Coach, Michael Kors, Tommy Bahama, TAG Heuer), department stores (Macy's), specialty retail (LEGO, Build-A-Bear, Brooks Brothers), dining (P.F. Chang's, The Cheesecake Factory, Seasons 52, Fleming's Prime Steakhouse & Wine Bar, Kanki Japanese House of Steaks & Sushi), and entertainment (Escapology, Level99). The mall serves general consumers in the Raleigh-Durham metropolitan area seeking a consolidated shopping, dining, and entertainment experience.

The property is owned and operated by Macerich (NYSE: MAC), a publicly traded Real Estate Investment Trust incorporated in New York and headquartered in Santa Monica, California, that manages a national portfolio of regional shopping centers. Under Macerich's ownership, Crabtree generates revenue through a retail leasing model that includes base rent, percentage rent based on tenant sales, and ancillary leasing arrangements — covering standard storefronts, kiosks, and restaurant spaces across multiple building levels. Macerich handles centralized property management, leasing, and marketing; the mall operates standard retail hours (Mon-Thu 10 AM-8 PM, Fri-Sat 10 AM-9 PM, Sun 11 AM-7 PM) and reaches consumers through a mall website (shopcrabtree.com), email newsletter, and active social channels on Facebook, Instagram, and YouTube.

In 2024, Crabtree launched a refresh and remerchandising program branded 'Our Refresh,' introducing new tenants such as Timberland, JD Sports, Fogo de Chão, Five Guys, Pop Mart, Level99, Escapology, and Lovesac. This initiative reflects a defensive repositioning strategy typical of regional malls — diversifying beyond traditional apparel and department store anchors toward experiential entertainment, fast-casual dining, and trend-driven specialty retail to defend against e-commerce substitution and department store secular decline. Revenue figures for the individual property are not publicly disclosed; Macerich reports only consolidated REIT-level financials.

Name

Crabtree

Legal name

Macerich

Website

https://shopcrabtree.com

Company type

Public

Founded year

1979

Operating status

Operating

Short description

Crabtree Valley Mall is a Class-A regional shopping center in Raleigh, NC, owned by Macerich (NYSE: MAC), housing 200+ retail, dining, and entertainment tenants including Apple, Macy's, and lululemon. It serves Triangle-area consumers and generates revenue through retail space leasing.

Ownership category

akta.pro rank

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Marketing or Sales, Personnel, Others

Revenue model

1. Retail Space Leasing: Crabtree Valley Mall generates revenue by leasing retail space to tenant brands and retailers. The mall acts as a landlord, providing physical storefronts to over 200 stores including Apple, Macy's, H&M, and various dining establishments. Revenue is derived from base rent, percentage rent based on sales, and other leasing arrangements with tenants.

Distribution channels3 records

Marketing channels5 records

Core offering

Crabtree (Crabtree Valley Mall) operates a regional shopping center in Raleigh, NC, leasing retail, dining, and entertainment space to over 200 tenant brands. The mall generates revenue from base rent, percentage rent, and ancillary leasing arrangements, while providing tenant retailers with a high-traffic location in the Research Triangle market. In addition to physical space, Crabtree offers visitor services, sales and offers promotions, visitor incentives, and brand/advertising opportunities for tenants.

Product overview

Crabtree Valley Mall is a single-property retail shopping center, not a unified software product. The mall operates as a commercial real estate property managed by Macerich, featuring over 200 retail stores, restaurants, and entertainment venues across its premises. The product portfolio consists primarily of tenant retailers (fashion, electronics, home goods), dining establishments (casual to upscale restaurants), personal services (salons, repair shops), and entertainment experiences (escape rooms). The mall's own offerings include visitor services, sales promotions, and brand partnership/advertising opportunities for retailers.

Differentiator

Problem solved

Functional benefit

Named customers15 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• MacerichcoreStrategic or Co-development PartnerMacerich is the owner and operator of Crabtree Valley Mall. As one of the largest shopping center REITs in the United States, Macerich provides property management, leasing, marketing, and operational expertise for the mall. The company is listed on NYSE and owns regional malls throughout the country.

Scale indicators3 records

Recent moves1 record

Expansion highlights5 records

Broad incumbents

• Unibail-Rodamco-Westfield: Global owner/operator of flagship shopping destinations (formerly Westfield in the US). Operates premium regional malls with comparable luxury and aspirational tenant mixes to Crabtree.
• Brookfield Properties: Operates a major US portfolio of retail and mixed-use destinations including former Rouse Properties malls. Comparable as a Class-A mall landlord with premium retail destinations and similar leasing economics.
• Simon Property Group: Largest publicly traded US mall REIT (NYSE: SPG), owning and operating premier regional malls and premium outlets comparable to Crabtree. Directly comparable as a Class-A mall landlord with overlapping tenant rosters and similar percentage-rent business model.

Direct peers

• Kimco Realty: Largest publicly traded owner of open-air shopping centers in North America, leasing to many of the same national retail tenants as Crabtree (H&M, Sephora, etc.). Comparable in tenant base and revenue model, though format differs (open-air vs. enclosed).
• CBL & Associates Properties: Mall REIT owning regional malls across the US Southeast and Midwest, including properties in the Carolinas. Directly comparable in operating model and tenant base, and a direct competitor for tenant capital allocation in the broader region.
• Taubman Centers: Publicly traded REIT specializing in high-quality regional and super-regional malls with affluent shopper bases. Closely comparable to Crabtree in tenant mix, format, and revenue model (base + percentage rent from premium retailers).
• Tanger Inc. Specialty REIT focused on outlet and open-air retail centers. Comparable as a retail landlord leasing to premium consumer brands, with a similar focus on shopper experience and destination retail.

Emerging players

• Federal Realty Investment Trust: REIT focused on open-air, mixed-use, and high-density urban retail destinations. Comparable on tenant type and shopper demographics, though operates predominantly open-air formats versus Crabtree's enclosed mall.

Regional players

• Triangle Town Center: Regional shopping mall located in Raleigh, NC — directly competing with Crabtree Valley Mall in the same Research Triangle market. Comparable format and tenant mix as a regional enclosed mall destination.
• SouthPark (Charlotte, NC): Premier Class-A regional mall in Charlotte, NC owned by Simon Property Group. Directly comparable property peer — similar format, similar premium/luxury tenant roster (Apple, Nordstrom, Tiffany, etc.), and competing for the same regional discretionary spending in the Carolinas.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• YouTubeyoutube.com/channel/UCyDC_sjEGVrj4vAowRhlrQg
• Facebookfacebook.com/CrabtreeValleyMall
• Instagraminstagram.com/shopcrabtree
• LinkedInlinkedin.com/company/crabtree-valley

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Crabtree