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The overhauled shopping center is nearing its Aug. 6 debut, and I've come across several curtain raisers on the open-air venue (media tour was given last week). Macerich, the SM-based real estate company behind the rehab, says that the mall will be 75 percent occupied come ribbon cutting day. A few of the higher-end tenants, notably Nordstrom, will open later in the month. From the Lookout News:
The 550,000-square-foot open-air mall stands three stories high and will feature Bloomingdale's and Nordstrom as its anchor stores. Many other high-end tenants will be included along the wide circular walkways on the first two levels. The top floor is dedicated to outdoor dining. There are "commitments" for approximately 90 percent of the tenant space, Macerich officials said. They include CB2, Burberry, Tiffany & Co., Juicy Couture, Louis Vuitton, Disney and Nike.
Retail sales have been struggling in Santa Monica, as they have everywhere. But considering the area's demographics, I'd imagine that traffic will be quite strong, especially during the holiday season.
Photo by Frank Gruber
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.