Shops of North Bridge Could Double With Recent Macerich Buy
California-based Macerich has plans to potentially more than double the current size of 860k SF Shops of North Bridge after paying $42M (with Alaska Permanent Fund, its North Bridge JV partner) for the vacant 65k SF site at 443 N Wabash Ave, Crain’s Chicago Business reports. (The seller, a Byron Trott-led venture, retained minority interest.) That means North Bridge, with tenants like Nordstrom and Eataly (don’t forget Shake Shack, if you’re not feeling Italian), might soon beat Water Tower Place as the biggest retail complex on the Mag Mile. With current zoning, Macerich could build 780k SF of retail, office, residential or hotel on the Wabash site, the firm said in a statement.