SANTA MONICA, Calif.,
Aug. 6 /PRNewswire-FirstCall/ --
Santa Monica-based Macerich®
(NYSE: MAC), one of the nation's leading owners, operators and
developers of regional shopping centers, today opened the new Santa
Monica Place -- the 524,000 square-foot, three-level, open-air
retail and dining destination just two blocks from the beach -- to
huge crowds.
(Photo:
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(Photo:
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The new property opened with a high-wattage roster of 50+
retailers and restaurants, including Bloomingdale's, Barneys Co-op, Burberry,
Louis Vuitton, kitson, Nike, CB2,
Ted Baker, Juicy Couture,
Hugo Boss and more plus an
impressive lineup of six, chef-driven restaurants on the rooftop
Dining Deck with views of the ocean.
On Aug. 27, Nordstrom will open at
Santa Monica Place, alongside additional retailers including
Tory Burch, followed by Tiffany
& Co. in September. In all, the project is 97 percent
committed and 92 percent leased.
"Today's opening of the new Santa Monica Place, certainly the
highest profile new retail opening this year, demonstrates the
power of a world-class property in a world-class market," said
Arthur M. Coppola, Chairman and CEO
of Macerich. "Many of the world's best retail brands are here,
drawn by the outstanding quality of this project and the rare
opportunity to locate in the highly desirable community of
Santa Monica."
Macerich expects Santa Monica Place to become one of the premier
shopping centers in the nation, joining other fortress Macerich
centers such as Queens Center in New York
City, Tysons Corner Center outside Washington, D.C., Washington Square near
Portland, Ore., Broadway Plaza in
Walnut Creek, Calif., Scottsdale
Fashion Square in Arizona, The
Shops at North Bridge in Chicago
and Danbury Fair Mall in Connecticut.
"We are thrilled to be extending the Bloomingdale's brand in Southern California," said Michael Gould, chairman and CEO of Bloomingdale's. "We have created a
shopping destination that reflects the lifestyle of anyone who
lives west of the 405 from Malibu
to Redondo Beach and everywhere in
between."
Strong crowds, strong early sales
Crowds estimated between 3,000-4,000 waited in line to join
City of Santa Monica officials and
Macerich executives to open the new property Friday morning.
Thousands of beach balls sailed into the crowd in place of a
traditional ribbon cutting.
Santa Monica Place also represents a number of "firsts" for many
brands, including new prototype stores for Nike, Hot Topic,
Charlotte Russe and more; the
first-ever Johnny Was retail store; the first Southern California location for Joe's Jeans;
the first West Coast location for Skecher's Shape-Ups store and
more. A number of the center's retailers are marking their
new store openings at Santa Monica Place with celebrity-studded
events, including Nike, Disney and Charlotte Russe.
Retailers from Skechers to Disney said they were likely to
exceed sales projections during opening day. Barneys
Co-op reported its first sale within five minutes of the center's
opening.
"We have our dream line-up of co-tenancy here," said
Paul Griffin, executive v.p. of U.S.
retail for Ted Baker. "We have
tremendous expectations for our Santa Monica Place store."
"With fantastic retailers and restaurants, gorgeous views and
lots of exciting live entertainment and special activities, Santa
Monica Place is designed for everybody – locals, visitors and the
many people who work in and around Santa
Monica," said Doug Roscoe,
senior manager, property management, Santa Monica Place. "One
of the most exciting elements is our third-level, rooftop Dining
Deck, which offers ocean, city and mountain views and many
different ways to enjoy them – whether our guests want a quick bite
at our indoor-outdoor food court or a magnificent meal at one of
our six, chef-driven restaurants."
Designed to suit its unique location in one of the world's best
known beachside cities, Santa Monica Place incorporates many
green-building features and is, in fact, a true recycling of the
1980s-era enclosed mall that Macerich has redeveloped as a
three-story, open-air streetscape that complement its urban
surroundings. The project was designed by Venice, Calif.-based architects, The Jerde
Partnership; Dallas-based Omniplan
was the executive architect.
Attracting top-level retailers
From the outset, the new Santa Monica Place has been a sizable
draw for retailers, even as the industry moved through challenging
seasons in 2008 and 2009. "Santa Monica Place demonstrates
that retailers will respond to a project with vision, location and
top-quality execution," said Macerich CEO Coppola. "We could
not be more proud of the new Santa Monica Place."
In addition to anchor department
stores Bloomingdale's and Nordstrom, retailers and restaurants
signed on to be part of the new Santa Monica Place
include:
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7 For All Mankind
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Gymboree
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AllSaints
Spitalfields
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Hot Topic
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Angl
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Hugo Boss
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Barneys Co-op
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Joe's Jeans
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BCBG
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Johnny Was
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Ben Bridge Jeweler
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Juicy Couture
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Betsey Johnson
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Kenneth Cole
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Bernini
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Kensington Luggage
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Bertini
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Kitson
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Bird Pick Tea &
Herb
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L'Occitane
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Burberry
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Louis Vuitton
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Carlton Hair
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Love Culture
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CB2
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Michael Kors
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Charles David
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Nike
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Charlotte Russe
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Pandora
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Chilli Beans
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Sea of Silver
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Coach
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Skechers
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Disney
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Solstice Sunglass
Boutique
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Ed Hardy
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Swarovski
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East 5th Hub
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Ted Baker
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Eva Varro
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Tiffany & Co.
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Ever
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Tous
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Foreign Exchange
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Tory Burch
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Gallini
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True Religion
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GNC
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WeSC
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G-Star Raw
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White House|Black
Market
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Dining Deck
Six chef-driven restaurants
announced to date include:
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La Sandia
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Sonoma Wine Garden
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Ozumo
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Xino Restaurant +
Lounge
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Pizza Antica
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Zengo
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Ten fast-casual concepts
announced to date for the indoor-outdoor food court:
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Charlie Kabob
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Sarku Japan
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Chick n' Ribs
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Stephano's Pizza
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Crepe Maker
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Sushi Itto
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Fatburger
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Wetzel's Pretzels
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Manchu Wok
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Pinches Tacos
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About Macerich
Macerich (NYSE: MAC) aligns exceptional retail properties in
attractive U.S. markets with the business goals of the world's
retailers and the shopping preferences of local consumers. The
company is one of the country's leading owners, operators and
developers of highly productive retail properties.
The company, which has been headquartered in Santa Monica for more than 30 years, 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.
Macerich now owns approximately 73 million square feet of gross
leaseable area consisting primarily of interests in 71 regional
malls. Additional information about Macerich can be obtained
from the Company's website at 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; the liquidity of real estate investments,
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, 2009 and the Quarterly Reports on
Form 10-Q, for a discussion of such risks and uncertainties, which
discussion is incorporated herein by reference. The Company does
not intend, and undertakes no obligation, to update any
forward-looking information to reflect events or circumstances
after the date of this release or to reflect the occurrence of
unanticipated events unless required by law to do so.
SOURCE Macerich
Copyright g. 6 PR Newswire