Macerich Planning 100,000-SF Expansion at Washington Square Mall

TIGARD, OR-The Macerich Company is planning a 100,000-sf addition to its 1.25-million-sf Washington Square mall in Tigard that will add 20-to-25 retailers and restaurants by the 2005 holiday shopping season. The mall expects to attract top-tier national retailers eager to enter a marketplace where a projected five-year growth rate of 10.1% more than doubles the 4.8% national norm.

The retail expansion will begin in early 2005, immediately following the completion of a new four-level parking structure that will get under way in February 2004. The expansion area is currently surface parking lots located between Meier & Frank and Nordstrom.

“Washington Square continues to be one of our top performers in the country in terms of sales, shopper traffic and market growth,” says Macerich COO David Contis. “We have been working for several years to develop an expansion plan that allows us to attract additional retailers, minimize disruption to the site and improve the quality of our customers’ shopping experience.”