Southcenter sits on a 90-acre site and includes a total of 1.3 million sf of leasable retail space. It currently houses 157 stores and is anchored by department stores, The Bon Marche, J.C. Penney, Mervyn's, Nordstrom and Sears. The mall's owner, Westfield America Trust, acquired Southcenter Mall last year as part of a $756-million purchase of eight retail centers from Richard E. Jacobs Group.
Westfield America submitted plans to the city last week, proposing a 450,000-sf expansion to its south side, according to city officials. The plans call for two new levels of space for retailers and two three-story parking garages.
According to Westfield representatives, the company plans to break ground next year, and the project should be finished by 2005. The mall's sales are expected to increase by at least 25% as a result of the expansion. The cost of the expansion has not been determined.
In addition to the mall expansion, tentative plans for a new hotel and 16-screen movie theater were also included in the proposal. If these additions were built, the mall would reach approximately two million sf. Westfield bought the Red Lion Hotel, which is located next door to the mall, last year. If the tentative plans are approved, the company will demolish the existing hotel and build a new hotel and movie theater on the six-acre site.
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