Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PLEASANTON, CA-The 1.3 million-sf Stoneridge Shopping Center here is primed for a 205,000-sf expansion now that Nordstrom has signed a letter of intent to build a new 149,000-sf department store next to its existing space, which will be converted for other retail uses. The expansion is expected to be completed in phases between Fall 2007 and Spring 2009.

Located at the intersection of Interstates 680 and 580, the mall is owned by a joint venture of Mills Corp. and General Motors Pension Trust. Existing anchor tenants in addition to Nordstrom include Macy’s, JCPenney and Sears.

Once the new Nordstrom is up and running, the current Nordstrom space will be converted into additional 89,000 sf of specialty shops and a 75,000-sf multi-screen cinema. Another 56,000 sf of new construction will house an anchor tenant and some new restaurants, for a total expansion of about 205,000 sf.

A Nordstrom executive says the company was planning a major remodel but jumped at the chance to build a brand new store that utilizes its latest design concepts. Mills chief executive Laurence Siegel, who could not be reached Wednesday afternoon for comment, says in a prepared statement that he is confident the new Nordstrom and new upscale retailers will increase the value of Stoneridge Shopping Center, which already has sales in excess of $500 per sf.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.