-Improvements will extend the luxury experience to the South Wing-
SANTA MONICA, Calif., October 6, 2022 /PRNewswire/ — Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in major markets, today announced the next phase of ongoing reinvestment in its iconic Scottsdale Fashion Square located in the heart of upscale Scottsdale, Arizona.
Scottsdale Fashion Square Luxury Wing
Plans include an extensive interior and exterior renovation of the south wing, building on the successful first phase that launched the property’s spectacular luxury wing in 2018. Macerich properties with purpose mean properties with more uses for more people – complementary new uses Coming soon to Scottsdale Fashion Square includes the high-end fitness and wellness destination Life Time Scottsdale and the new Caesars Republic Scottsdale boutique hotel.
Today’s announcement also marks the end of Scottsdale Fashion Square’s 60th anniversary, the diamond jubilee of from arizona most distinguished and successful retail destination, with a commitment to continue polishing this retail jewel for the future.
“Macerich is dedicated to constantly reinvesting in and elevating our major regional urban centers, and Scottsdale Fashion Square is among the most productive in our portfolio,” he said. Tom O’Hern, CEO of Macerich. “Scottsdale Fashion Square is already the region’s undisputed luxury leader, and the tremendous success of our luxury wing demonstrates the huge appetite among retailers and shoppers for even more luxurious experiences at this high-performing property. This multi-phase project is part of Macerich’s long-term strategy, as well as the downtown’s own history, of continually reinvesting in our irreplaceable retail destinations We see a tremendous opportunity to further expand our luxury presentation in the South Wing to welcome more than the best brands and experiences in the world, in line with the outstanding demographics and growth in the scottsdale–Phoenix market.”
Specifically, the next phase of the property’s multi-dimensional project announced today will update and redefine the south wing anchored by Nordstrom. Scottsdale Fashion Square will extend its luxury presentation beyond the luxury wing itself, creating an eye-catching arrival point, complete with luxury valet service, at the property’s busiest entrance. Also planned for this phase are two-story storefronts and exterior-facing commercial buildings at the south entrance, and a porte-cochère that will incorporate up to five destination restaurants.
Echoing the luxury wing aesthetic, interior renovation elements for the south wing include new luxury finishes, new natural stone flooring, three dramatic custom light fixtures and recessed LED lighting, sleek furnishings, enhanced views to highlight retail singles and more. It will all come together to deliver a more cohesive and holistic luxury experience for guests and retailers across the property.
By all accounts, the luxury wing that debuted at Scottsdale Fashion Square in November 2018 has been a tremendous success, attracting an enviable collection of new-to-market pure luxury retailers and restaurants, including Dior, Saint Laurent and Nobu, and stimulating major luxury brands already on property, from Louis VuittonSan Juan, jimmy chooBottega Veneta and many others, to recommit, expand and renovate their stores.
“Scottsdale Fashion Square is the very definition of luxury retailing in the Southwest, with nearly 50 of the best contemporary and luxury brands including Cartier, Bottega Veneta, Louis VuittonGucci, Balenciaga, christian louboutinBulgari and Prada, together with our best NeimanMarcus and Nordstrom department stores,” said miguel guerin, Executive Vice President, Macerich. “The continued selection of our product mix with dynamic new experiences, including additional new restaurants and great design elements, in other parts of the property beyond the luxury wing, enhances Scottsdale Fashion Square’s value proposition as a whole for retailers and brands, while optimizing the customer journey. for our guests.”
Scottsdale Fashion Square is one of the nation’s premier shopping destinations, with 1.9 million square feet and more than 240 stores and restaurants, plus a growing variety of new and exciting uses including wellness + fitness and a hotel, both now under construction. Big names in ownership also include Alo Yoga, Apple, Coach, H&M, Kate Spade New York, Lacoste, Levi’s, Lucid Motors, Lululemon, MAC Cosmetics, Nespresso, Sephora, Tesla, Tumi, Williams–Sonoma and Zara, as well as large format DICK’s Sporting Goods, Dillard’s, Harkins Theatres, Macy’s, NeimanMarcus and Nordstrom. The property features a wide variety of exciting restaurants, from upscale to casual, including Francine’s, Nobu, Ocean 44, Knock on wood, Tocaya Modern Mexican and Yard House, plus Fired Pie, Shake Shack and more. Additional information about Scottsdale Fashion Square can be obtained at www.fashionsquare.com.
Macerich is currently planning to add more mixed-use elements to Scottsdale Fashion Square on a seven-acre parcel immediately north of the mall that stretches from Goldwater Boulevard to Scottsdale Road. The plan will incorporate high-end residential units, Class A office space, and hospitality uses. As has been experienced at other Macerich properties, the addition of these complementary uses increases the customer base and sales potential for the property’s retailers.
Macerich Retail Real Estate Credentials at Arizona are unmatched: the company dominates the retail landscape in Arizona with nine regional shopping centers in the Phoenix Subway area. Altogether, Macerich Arizona The portfolio comprises more than 9 million square feet and includes the most iconic and high-performing retail properties in Southwest Biltmore Fashion Park, Kierland Commons, Arrowhead Towne Center and Chandler Fashion Center, in addition to Scottsdale Fashion Square. These centers and their retail stores employ thousands of people and generate millions of dollars in revenue for their communities.
About Macerich
Macerich is a fully integrated, self-managed and self-managed real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive US markets, Macerich’s portfolio is focused on Californiathe Pacific Northwest, Phoenix/scottsdaleand the New York Subway to Washington D.C. runner. Developing and managing properties that serve as cornerstones of the community, Macerich currently owns 48 million square feet of real estate consisting primarily of holdings in 44 regional urban centers. Macerich is firmly dedicated to promoting environmental objectives, social good and good corporate governance. A recognized leader in sustainability, Macerich has achieved a GRESB #1 ranking for the North American retail sector for seven consecutive years (2015-2021). For more information please visit macerich.com.
SOURCE Macerich Company
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