CARLSBAD, CA—Rouse Properties Inc. says it has spent $170 million to acquire Westfield Carlsbad, a 1.1 million square foot super regional enclosed mall. Rouse plan involves rebrand the center as The Shoppes at Carlsbad and execute a comprehensive renovation.

Improvements will include a complete interior make-over and the addition of a contemporary and engaging streetscape to accommodate high-volume restaurants, which bring together the indoor and outdoor elements. Rouse believes its plan will restore the center to a position of prominence within the prime retail landscape of the Carlsbad market.

"We couldn't be more excited to join the Carlsbad community," said Andrew Silberfein, president and chief executive officer of Rouse Properties. "We see a tremendous opportunity to apply our entrepreneurial national platform to reposition the property. As we move forward with this process, we will work in close coordination with City officials to ensure we deliver a product and retail experience that is unique for the marketplace and that the families in the community can be proud of."