Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN JOSE, CA-Both Bloomingdale’s and Neiman Marcus will join Macy’s and Nordstrom at Valley Fair mall in time for the 2011 holiday shopping season. Part of a 500,000-sf expansion, the two top-tier department store additions will add to the attraction of one of the performing malls in the nation by making it one of a select few with four top-tier department store anchors.

Macy’s says its Bloomingdale’s division will develop a three-level 150,000-sf store. Neiman Marcus says it will open a two-level, 120,000-sf store. Both stores will be added to the south side of the mall, between the two existing Macy’s stores.

The two anchors account for about half of a planned 500,000-sf expansion at Valley Fair that would add as 70 new retailers, including several restaurants. Upon completion, the mall will total 2 million sf and some 340 stores.

The expansion, which includes parking for an additional 3,000 cars, is slated to begin in January. Most everything except for the two new department store anchors is expected to be up and running in 2010.

With specialty store sales averaging $830 per sf, Valley Fair is one of the top-selling malls in the United States, according to the International Council of Shopping Centers. It is the No. 2 mall in Westfield’s US chain, behind only Century City, a much smaller mall (875,000 sf) with average specialty store sales of $896 per sf, according its latest annual report.

Valley Fair is 50-50 joint venture of the Australia-based Westfield Group and JPMorgan Fleming Asset Management on behalf of the Strategic Property Fund, a co-mingled pension trust fund.

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?

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.