Macy's Expands Across Metro Phoenix With Two New Stores
May 13 2008 - 3:06PM
PR Newswire (US)
Fashion, Style and Affordable Luxury of Key Department Store Will
Anchor Gilbert's SanTan Village and Goodyear's Estrella Falls
PHOENIX, May 13 /PRNewswire-FirstCall/ -- Macy's will deepen its
Metro Phoenix presence with the addition of two new stores located
within strategically placed super regional shopping centers --
Westcor's Estrella Falls in Goodyear, Ariz., and SanTan Village in
Gilbert, Ariz. This expansion of Macy's across the Metro-Phoenix
region further solidifies these super regional shopping centers as
key fashion destinations within their respective communities.
Today's announcement continues the long-standing partnership
between Macy's and Santa Monica, Calif.-based Macerich(R)
(NYSE:MAC). SanTan Village and Estrella Falls are part of a
long-term, strategic Phoenix 2020 plan to create responsible,
market-driven retail developments by Westcor, Macerich's Arizona
subsidiary. "We are very excited to expand our presence throughout
the growing Phoenix/Scottsdale region," said Jeff Gennette,
chairman and chief executive officer of Macy's West, the division
responsible for the Arizona market. "The fashion and affordable
luxury that Macy's delivers is important to our customers in
Arizona, and these new locations will provide additional
convenience and access for our shoppers." The 120,000-square-foot
Macy's will open April 2009 at SanTan Village, which opened its
first phase in fall 2007. Macy's joins Dillard's and Harkins
Theaters to anchor this project -- which will see more than 20 new
retailers opening in 2008, including Dick's Sporting Goods, Best
Buy and Barnes & Noble. At full build out, SanTan Village's
regional hub will include hotel and residential and about 3 million
square feet sitting in the heart of the area's emerging retail
corridor. At Estrella Falls, the 120,000-square-foot Macy's will
open in fall 2010 with the regional center and key anchors
Dillard's and Harkins Theaters to serve a long under-retailed area.
Estrella Falls' open-air footprint will encompass about a million
square feet. The entire project will encompass close to 3 million
square feet of shopping, dining, entertainment, hotel and
residential on 330 acres at build out. The Market at Estrella
Falls, a power center component, is under construction and the
first phase opens fall 2008. "As the Southwest Valley's first super
regional shopping center, Estrella Falls will anchor Goodyear as
the community's top choice for retail," said Goodyear Mayor Jim
Cavanaugh. "Macy's commitments in Goodyear bode well for us now and
into the long-term future." Westcor's Garrett Newland, vice
president, development, said, "Macy's brings another dimension of
fashion to both SanTan Village and Estrella Falls. The addition of
this department store complements the dynamic retail scene that
already exists at SanTan Village and is in the process of being
molded at Estrella Falls. We are excited to bring this highly
requested retailer and all of its amenities to these market-driven
projects." Macerich is a fully integrated self-managed and
self-administered real estate investment trust, which focuses on
the acquisition, leasing, management, development and redevelopment
of regional malls throughout the United States. The company is the
sole general partner and owns an 85% ownership interest in The
Macerich Partnership, L.P. Macerich now owns approximately 77
million square feet of gross leaseable area consisting primarily of
interests in 72 regional malls. Additional information about
Macerich can be obtained from the Company's Web site at
http://www.macerich.com/. Note: This release contains statements
that constitute forward-looking statements. Stockholders are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks, uncertainties
and other factors that may cause actual results, performance or
achievements of the Company to vary materially from those
anticipated, expected or projected. Such factors include, among
others, general industry, economic and business conditions, which
will, among other things, affect demand for retail space or retail
goods, availability and creditworthiness of current and prospective
tenants, anchor or tenant bankruptcies, closures, mergers or
consolidations, lease rates and terms, interest rate fluctuations,
availability and cost of financing and operating expenses; adverse
changes in the real estate markets including, among other things,
competition from other companies, retail formats and technology,
risks of real estate development and redevelopment, acquisitions
and dispositions; governmental actions and initiatives (including
legislative and regulatory changes); environmental and safety
requirements; and terrorist activities which could adversely affect
all of the above factors. The reader is directed to the Company's
various filings with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the year ended
December 31, 2007, for a discussion of such risks and uncertainties
which discussion is incorporated by reference. DATASOURCE: Macerich
CONTACT: Christine Romero, +1-602-953-6593, or Connie Cook,
+1-602-953-6563, both of Macerich Web site:
http://www.macerich.com/
Copyright
Macerich (NYSE:MAC)
Historical Stock Chart
From May 2024 to Jun 2024
Macerich (NYSE:MAC)
Historical Stock Chart
From Jun 2023 to Jun 2024