Macerich Wants To Add To Fashion Square
Macerich is proposing to add mixed-use space to Fashion Square, bumping it from 2.4M SF of mall and accessory space to 3.2M SF. The company is seeking the city’s approval for a 150-foot tower on the former site of the Harkins Camelview 5 movie theater, which closed last month. (The problem is obviously that not enough people saw Star Wars.) The Macerich proposal, now entering the public hearing process, would add ground-level retail (possibly a grocer), topped by office and residential, the Phoenix Business Journal reports. The mall is one of the strongest retail centers in the western US, with sales of $740/SF. [PBJ]
Phoenix is not the only market where Macerich is expanding.