"We are starting to renovate the buildings one by one, re-doingthe exterior of the buildings, the roofing, the exterior finishesand the lighting, things of that nature, setting the stage for thismajor re-merchandising project that we have going on where we willhave tenants come in and build, in conjunction with our work, newstorefronts." Genovese says. The multi-phased project will includeup to 245,375 sf of new retailers and restaurants to be added tothe existing space at Cross County.

The plan received final approvals from the Yonkers PlanningBoard a few weeks ago. Also part of the initiative is a planned50,000-sf expansion of the existing Macy's anchor store, whichcurrently totals approximately 250,000 sf. The center's other majorretailers currently include: Sears, Super Stop & Shop, aNational Amusements Multiplex movie theater and Old Navy. Theproperty contains 90 national and local retailers and aneight-story 60,200-sf office building. Genovese adds that work onthe common areas of the shopping center will likely begin in 2008and run until 2009.

He says that Macerich is in discussions with a number ofretailers that do not have a presence at Cross County. "Thosetenants we will be announcing over time as we finalize their leasesand schedules," Genovese notes. He describes the prospects as beinga mix of national and regional retailers and restaurant concerns.The Macerich executive says the firm will be looking at the officebuilding at the property and studying whether it should be adaptedfor another use.