Bloomingdale's Adds Celebrated Shopping Experience to Macerich's Santa Monica Place
September 10 2008 - 2:35PM
PR Newswire (US)
SANTA MONICA, Calif., Sept. 10 /PRNewswire-FirstCall/ --
Macerich(R) (NYSE:MAC), one of the nation's largest owners,
operators and developers of regional shopping centers, today
announced it will bring Bloomingdale's to Santa Monica Place, the
company's new, open-air retail and dining destination under
construction in Santa Monica, Calif. Bloomingdale's will join
Nordstrom as a key department store anchor at Santa Monica Place,
replacing the current Macy's store. Known for its innovative
approach to fashion and iconic brand, Bloomingdale's is part of
Macy's, Inc. The store is set to open in 2010. "We're delighted to
welcome Bloomingdale's to Santa Monica Place," said Randy Brant,
Executive Vice President, Real Estate, for Macerich.
"Bloomingdale's has led the way in creating memorable shopping
experiences and strong customer relationships, in addition to their
focus on fashion. Bloomingdale's is an outstanding fit with the
vibrant Santa Monica market." The decision by Macy's, Inc., to
introduce Bloomingdale's at Santa Monica Place reflects the
interests of the community, according to Brant. "We're pleased that
the company listened to local shoppers, who consistently voiced
their interest in a different, more fashion-forward shopping
experience at Santa Monica Place," said Brant. The new Santa Monica
Place location brings Bloomingdale's closer to customers west of
Los Angeles' 405 -- a barrier that often keeps freeway-weary
shoppers in Santa Monica, Pacific Palisades, Brentwood and other
Westside communities at home rather than at the stores. "In this
part of L.A., convenience is everything. So is a unique and
beautiful shopping environment. We're pleased that Bloomingdale's
agrees we have both of these essential elements at the new Santa
Monica Place," added Brant. "We are pleased to be expanding our
presence in this very important market," said Michael Gould,
Bloomingdale's chairman and chief executive officer. "We also are
very excited about introducing the SoHo-store concept, which will
feature tightly edited assortments of contemporary men's and
women's merchandise tailored for the Santa Monica area. We believe
that Bloomingdale's distinctive assortments and personalized
service will be welcomed in this new venue that is so ideally
matched to the Bloomingdale's customer." Macy's will close in
February 2009 so the transformation of the space into a brand-new
Bloomingdale's can begin. Currently, Santa Monica Place is being
completely transformed from an existing 1980s-era, enclosed
shopping center to a three-level, open-air retail destination that
will include a signature rooftop Dining Deck. Scheduled to open in
fall 2009, the 550,000-square-foot Santa Monica Place is adjacent
to the popular Third Street Promenade, three city blocks of retail
stores, restaurants and entertainment. Already, Macerich has
announced plans to bring a three-level, 122,000-square-foot
Nordstrom to the new center, slated to open in 2010. For more
information, visit http://www.macerich.com/. Bloomingdale's is
America's only nationwide, full-line, upscale department store and
a division of Macy's, Inc. It was founded in 1872 and currently
operates 40 stores in New York, New Jersey, Massachusetts,
Pennsylvania, Maryland, Virginia, Illinois, Minnesota, Georgia,
Florida, Nevada and California. For more information or to shop any
time, visit http://www.bloomingdales.com/. 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 86% 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/A for the year ended
December 31, 2007, for a discussion of such risks and uncertainties
which discussion is incorporated by reference. DATASOURCE: Macerich
CONTACT: Anita Walker of Macerich, +1-602-953-6550, or Jim
Sluzewski of Macy's, Inc., +1-513-579-7764 Web site:
http://www.macerich.com/ http://www.macysinc.com/
http://www.bloomingdales.com/
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