Northgate Re-Opens With Sought-After Retailers, Restaurants
November 12 2009 - 2:46PM
PR Newswire (US)
- Marin County's Largest Shopping Center Celebrates Top-to-Bottom
Transformation, First-to-Market Stores - SANTA MONICA, Calif., Nov.
12 /PRNewswire-FirstCall/ -- Macerich® (NYSE: MAC), one of the
nation's largest owners, operators and developers of regional
shopping centers, today opened the first phase of the major
redevelopment of Northgate, located in the heart of Marin County,
Calif. Shoppers were waiting for doors to open at the completely
transformed Northgate, which includes several first-to-market
brands such as Forever 21, Buckle, BJ's Brewery and Hot Topic among
the 40 new and renovated retailers and restaurants opening now
through 2010. The center, which includes anchors Macy's, Sears,
Century Theatres and the new Kohl's, drew in both new shoppers and
many who had long awaited Northgate's re-designed look and
merchandise mix. Northgate has attracted several dynamic local
concepts, retail favorites such as H&M and Tilly's while some
longstanding Northgate retailers are returning to the redesigned
property. "The result of a major, two-year redevelopment effort,
Northgate's redesign preserves the center's position as the largest
and only enclosed regional shopping center in Marin County," said
Edward C. Coppola, President of Macerich. "Northgate is another
example from our portfolio of an exceptional location in a market
with both tremendous barriers to entry and outstanding
demographics." At Northgate, Macerich is using sustainable building
practices to target an accomplishment rare among shopping centers -
LEED certification by the U.S. Green Building Council (USGBC) - in
its redevelopment of Northgate. "From opening to outside air
whenever we can to relying on natural light for 55 percent of the
'daylight' needed at the center, Northgate was designed as an
environmentally friendly space - something we know is particularly
important to Marin County," said Chuck Davis, Vice President,
Development, for Macerich. "With this enticing new design, we've
created a new shopping environment that brings a great deal of
energy, style and sustainability to this market." A fresh, new
retail mix Kohl's opened at Northgate on September 30 in the former
Mervyn's location, while new restaurant addition BJ's Brewhouse
opened on November 2. In addition to Northgate's existing anchors,
the following retailers and restaurants are or will be opening at
Northgate this fall: Applebee's, Berry Twist, Children's Place,
Chipotle Mexican Grill, Claire's, Combo King, Fingers and
Toes/Faces and Places, GameStop, Gap, Gloria Jean's Coffees, GNC,
Gymboree, H&M, Hot Topic, Lenscrafters, Northgate Beauty,
Northgate Jewelers, PacSun, Panera Bread, Radio Shack, Regis Salon,
Sbarro, See's Candies, Sheikh Shoes, Sole Desire, Subway, Sunglass
Hut, Tilly's, T-Mobile, Tomatina, US Bank, Vans, Verizon Wireless,
Visionary Opticians and Wetzel's Pretzels. Also planning to open at
Northgate are: Buckle, Footlocker, Forever 21, Great Steak &
Potato Co., Payless Shoe Source, Peet's Coffee, Roadside BBQ,
Shogun Fresh Japanese Grill and Stride Rite. The center's Rite Aid
will shift locations to a new building in spring 2010. Framing
Northgate's new retail mix is a new design that blurs the
boundaries between the indoors and the outdoors. New elements
include a new courtyard gathering place called the Oak Plaza,
roll-away glass doors, open-air dining areas and an indoor-outdoor
food court near the Century Theatres. The center itself offers new
natural lighting and a more sophisticated, simplified interior.
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 89% ownership interest in The Macerich
Partnership, L.P. Macerich now owns approximately 76 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; 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, 2008 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. http://www.macerich.com/ DATASOURCE: Macerich
CONTACT: Anita Walker, +1-602-953-6200, for Macerich Web Site:
http://www.macerich.com/
Copyright