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FREEHOLD, NJ-The Macerich Co. has unveiled plans for a100,000-sf addition to its 1.5-million-sf Freehold Raceway Mallhere. Officials of the Long Beach, CA-based company say theysubmitted a formal application for the expansion in May and are nowawaiting final approval from the local planning board. Pendingthat, Doug Morrow, Macerich's vice president-real estate, says thecompany hopes to be in the ground in January and to begin openingnew stores in November 2007.
And the plans unveiled by Macerich show a departure from theexisting enclosed regional mall: the additional 100,000 sf will bea three-building, open-air lifestyle center. The site plan callsfor the new construction to be attached to the existing mall alongits east side, between the Sears and JC Penney anchor stores.Pedestrian-only promenades would be constructed, connecting to thecenter's existing east entrances, "creating a natural flow betweenthe existing enclosed center and the new outdoor space," says FrankLucia, senior property manager.
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