WHO’S WHO IN REAL ESTATE – Robert Aptaker

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Business Journal showcases L.A. professionals who are sold on retail property development.

DEVELOPER

Robert Aptaker, 50

Vice President of Development

Macerich Co., Santa Monica office

Robert Aptaker completed the largest project of his career last year with the reopening of Santa Monica Place, the mall next to the Third Street Promenade designed by architect Frank Gehry. The $270 million project rejuvenated the retail center, which now features 100 stores on three levels, an indoor-outdoor food court and expansive ocean views. Last year, Aptaker also finished a $95 million upgrade at Los Cerritos Center, including a major expansion that opened completely leased. Aptaker works in Santa Monica at the corporate headquarters of Macerich, which owns more than 70 malls nationwide with 72 million square feet of space.

Why Retail: Shopping centers are more than just a place to buy shoes. Communities feel a sense of ownership for their malls. It’s rewarding to be involved in projects when people feel that kind of connection.

How I Started: In 1985, I took a job as a management trainee with Macerich at Lakewood Center Mall. I moved into property management, tenant coordination, environmental management, and finally found my place in development in 1999. Along the way, I had the opportunity to spearhead physical due diligence for Macerich’s acquisition program beginning in 1988.

Best Career Moment: Santa Monica Place is by far my most rewarding development by all measures – largest, geographically closest, most challenging, most innovative, most community involvement and most fun! It’s also the most successful financially. It breaks the rules of retail in so many ways. For example, in May 2011, the Market, a collection of artisanal purveyors of meats, cheeses, baked goods, wines, chocolates and flowers, opened there.

Challenges in Retail: I’ve seen some economic highs and lows, but the past few years have been tough. The economy has put the brakes on many potential developments. Hard work and surrounding yourself with good co-workers are the best ways to overcome any challenge.

Favorite Project I Didn’t Work On: Third Street Promenade. It has become a vibrant destination for shopping, dining and entertainment, but it didn’t happen by accident. The city of Santa Monica in partnership with Downtown Santa Monica Inc. made some bold moves beginning in the 1960s, including closing the street to cars, converting it to a pedestrian mall and constructing public parking garages.

My Colleagues Don’t Know: I joined the Westside Toastmasters club in 2006 at a time when I had to do some public speaking and needed to work on communicating effectively in front of an audience. I recall the first meeting that I attended as a guest – I found the group to be extremely supportive and friendly. In addition to improving my public speaking skills, I’ve had the opportunity to make some new friends along the way.

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