The Los-Angeles-based mall REIT, reporting a healthy quarter,says two new parking structures are open and the new 225,000-sfNordstrom is under construction, with a planned opening of Spring,2001. The phase-one development will be followed by thereconfiguration of the existing Nordstrom building into mall shops,which is planned for completion in Spring 2002.
Westfield America, with interest in 39 retail developments, isone of the nation's largest owners of regional shopping centers.The Valley Fair mall is located in a region loaded with Internetcompanies and their often wealthy employees. In addition to the newNordstrom and Macy's, Valley Fair will feature an additional275,000 sq. ft. of more fashion-orientated, upscale specialtyretail.
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