CHICAGO, Nov. 3, 2011 /PRNewswire/ -- General Growth
Properties (NYSE: GGP) today announced plans to add Bloomingdale's department store as an anchor
to Glendale Galleria, one of GGP's premier shopping destinations in
Southern California. The
center will undergo an expansive renovation, incorporating
aesthetic updates to both the interior and exterior of the
property.
"Glendale Galleria is located in a very dense and diverse
market, and is in the backyard of the country's entertainment
icons, including Disney, DreamWorks, Pixar and Universal Studios.
For years the center has introduced cutting-edge retail
concepts to its customer base. Bloomingdale's is the epitome
of the Glendale shopper – stylish
and fashion-forward," said Sandeep
Mathrani, CEO, GGP.
Attracting more than 26 million annual visitors, the property is
located within the City of
Glendale's strong retail core, generating approximately
$500 million in annual sales and
$660 per-square-foot. For more
than 30 years, Glendale Galleria has introduced first-to-market
retail concepts, including the first Apple Store in the world and
the first Disney Store. The addition of the
120,000-square-foot Bloomingdale's
will enhance Glendale Galleria's unparalleled retail line-up.
The Bloomingdale's department
store is expected to open fall 2013. Bloomingdale's is a
full-line, upscale department store showcasing a portfolio
representing the latest and most desirable merchandise across every
category, providing a world-class retail experience.
Bloomingdale's at Glendale Galleria is projected to include
175 associates.
"Bloomingdale's business in
Southern California has developed
rapidly since we opened our first store in the Los Angeles area in 1996. Glendale Galleria
will be our eighth store in the market. Customers love our unique
sense of contemporary style and the attentive service that sets
Bloomingdale's apart," said
Michael Gould, chairman and chief
executive officer of Bloomingdale's. "Much like Bloomingdale's stores in Soho and Santa Monica, we expect our assortment and
shopping experience in Glendale
will be carefully edited for the community and customer."
"Glendale Galleria always has been a strong partner, working
together with the city and its residents to provide the best in
retail for the region. The addition of Bloomingdale's and the mall's renovation will
serve to further strengthen the city of Glendale's retail core, adding both new jobs
and shopping venues. GGP's plan offers an updated and even
more appealing place to gather and shop with one another," said
Mayor Laura Friedman, Glendale, California.
GGP is the second largest shopping center owner. GGP has
ownership and management interest in 167 regional and super
regional shopping malls in 42 states. The company portfolio totals
169 million square feet of space. A publicly-traded real
estate investment trust (REIT), GGP is listed on the New York Stock
Exchange under the symbol GGP.
SOURCE General Growth Properties