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SCOTTSDALE, AZ-After sitting vacant since January, a 250,000-sf space in the Scottsdale Fashion Square, the Valley’s most successful regional mall, is getting a new tenant.

Macy’s has leased an anchor spot in the two million-sf center, located at the northwest corner of Scottsdale and Camelback roads. Three floors of retail space will be renovated for a fall 2002 opening. Work gets under way soon.

Owner Phoenix-based Westcor Partners was left with the vacant space when Sears Roebuck shuttered its doors, citing low sales. Westcor was shooting to fill the space with upscale Bloomingdale’s, but the deal evaporated during the summer. Both Macy’s and Bloomingdale’s are owned by Federated Department Stores. The Scottsdale Fashion Square location will be Macy’s fifth store in the Valley and the seventh in Arizona.

In August, Westcor Partners took full ownership of the mall, purchasing the half interest that was by a group of institutional investors advised by Lend Lease Real Estate Investments Inc. Scottsdale Fashion Square originally was developed as an open-air shopping center in the 1950s. Westcor acquired it in 1984 and enclosed it. The developer also added bridges over Camelback Road and Goldwater Boulevard and brought in Dillard’s, Robinsons-May, Neiman Marcus and Nordstrom as anchors.

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