X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TIGARD, OR-The Macerich Company is planning a 100,000-sf addition to its 1.25-million-sf Washington Square mall in Tigard that will add 20-to-25 retailers and restaurants by the 2005 holiday shopping season. The mall expects to attract top-tier national retailers eager to enter a marketplace where a projected five-year growth rate of 10.1% more than doubles the 4.8% national norm.

The retail expansion will begin in early 2005, immediately following the completion of a new four-level parking structure that will get under way in February 2004. The expansion area is currently surface parking lots located between Meier & Frank and Nordstrom.

“Washington Square continues to be one of our top performers in the country in terms of sales, shopper traffic and market growth,” says Macerich COO David Contis. “We have been working for several years to develop an expansion plan that allows us to attract additional retailers, minimize disruption to the site and improve the quality of our customers’ shopping experience.”

Washington Square claims to have “more top-tier retailers under one roof than any other mall statewide.” The mall is home to 122 stores including five department stores–the state’s largest Nordstrom, one of the top-performing Meier & Frank stores in the country, JCPenney, Sears and Mervyn’s. Other national retailers include Pottery Barn, Ann Taylor, Coach, Banana Republic, J. Crew, Abercrombie & Fitch, Talbots and Gap.

Located at 9585 SW Washington Square Rd., Washington Square is located in one of the state’s fastest-growing areas with higher-than-average household incomes. The mall boasts $500 million in annual sales. Earlier retailer and shopper demand spurred a remodel and expansion in 1995, creating the state’s largest Nordstrom, a new food court and 50,000 sf of additional retail space.

Washington Square senior property manager Jack Reardon tells GlobeSt.com the mall is nearly 100% leased, with just 7,000 sf available in three spaces, all of which were vacated by national retailers that recently declared bankruptcy. The mall first opened in 1974. “Since then, we’ve had a waiting list that includes some of the country’s most popular retailers,” says Reardon.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.