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Retail Beat

Westfield begins nationwide redevelopment of three malls Westfield America Inc., based in Los Angeles, is redeveloping several U.S. properties. A $165 million redevelopment of Westfield Shoppingtown Valley Fair in San Jose, Calif., tops the list. For this project, two new parking structures are already open and a new, 225,000 sq. ft. Nordstrom is under construction. New and reconfigured shops will total 320,000 sq. ft., and will open in two phases. Completion is planned for spring 2002.

The company also began its $232 million redevelopment of Westfield Shoppingtown West County in St. Louis. The center's new Famous-Barr flagship is under construction. Upon its scheduled fall 2002 completion, West County will have more than 1.2 million sq. ft. of retail, including the city's only Nordstrom, a flagship Lord & Taylor and a renovated JCPenney.

Also, Woodland Hills, Calif.'s Westfield Shoppingtown Promenade will undergo a $35 million transformation into an entertainment center. Upon completion, the mall will feature a redesigned lower level plus five new destination tenants and restaurants. The project is scheduled to be completed this spring.

Silicon Valley WAVE renovation ready to roll The former Sunnyvale Town Center, which was built in the 1960s, is not only receiving a $68 million expansion and renovation but also a new name to boot. Silicon Valley WAVE - an acronym for Walk and Village Entertainment - will be reconfigured through the closure of a street entrance and converted to a village-style development. Construction is under way on the Bay Area property, and doors are scheduled to open in July 2001. Upon completion, the center will increase to almost 1 million sq. ft.

The centerpiece of the revamped shopping center will be a state-of-the-art multiplex theater. Modifications to the existing mall will include partial demolition of a block-long parking garage that will become part of the entertainment village. Two new free-standing anchors, Old Navy and Barnes & Noble, will highlight the 380,000 sq. ft. entertainment venue. The village-style center also will have 120,000 sq. ft. of in-line retail space.

The project is funded by the city of Sunnyvale, Calif.; Sherman Oaks, Calif.-based American Mall Properties; and Irvine, Calif.-based developer Snyder Langston.

Prime retail space for sale in New York's SoHo district Wanted: Upscale retailers to fill 30,000 sq. ft. of retail space in New York's SoHo-NoLita shopping district. The three-level space is located at 285 Lafayette Avenue, just east of Broadway between Prince and Houston streets, and is currently offered on a long-term lease arrangement by Douglas Elliman, a division of locally based Insignia Financial Group.

The three-level space offers extensive street frontage and an upscale downtown presence. The property offers 12,000 sq. ft. of ground-floor storefront, 8,000 sq. ft. of lower level space and 10,000 sq. ft. of sub-basement space.

New mall and two new retailers to enter Richmond, Va. market Construction is under way on Cleveland-based Forest City Enterprises' Short Pump Town Center, a 1.1 million sq. ft. regional mall. Located in Richmond's Henrico County, the two-story, open-air regional mall is scheduled for completion in the fall of 2002.

Anchors include Hecht's and Dillard's, as well as a Nordstrom and Lord & Taylor, which are making their first entries into the Richmond market. The mall's open-air environment will have the conveniences of an indoor shopping center with an old-fashioned Main Street setting.

NBA's Lakers and Clippers ready for a new neighbor A 33-acre urban district in downtown Los Angeles is under redevelopment by The Los Angeles Arena Land Co. LLC and Baltimore-based RTKL. The project's first phase is scheduled for completion in 2004.

Entertainment, retail, residential and offices uses, as well as a large civic plaza, are planned for the district, adjacent to the Staples Center and the Los Angeles Convention Center. The total redevelopment program covers an eight- to 10-year period and will total 4 million sq. ft., including 1 million sq. ft. of retail space.

Birmingham mall unites two competing developers CBL & Associates Properties, based in Chattanooga, Tenn., and Colonial Properties Trust, based in Birmingham, Ala., are joint-venture partners in the expansion and redevelopment of Parkway City Mall. By fall 2002, the mall will become a two-level, 650,000 sq. ft. center called Parkway Place.

Redevelopment plans include the demolition of the mall's existing Montgomery Ward and the addition of a 167,000 sq. ft. Parisian, an 180,000 sq. ft. Dillard's and 275,000 sq. ft. of new mall shops.

CBL will be responsible for the management and development of Parkway Place, while Colonial Properties Trust will handle the leasing. Cleveland-based KA Inc. serves as architect for the project.

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