CHICAGO, Nov. 3, 2011 /PRNewswire/ -- General Growth Properties (NYSE: GGP) today announced plans to add Bloomingdale's department store as an anchor to Glendale Galleria, one of GGP's premier shopping destinations in Southern California. The center will undergo an expansive renovation, incorporating aesthetic updates to both the interior and exterior of the property.
"Glendale Galleria is located in a very dense and diverse market, and is in the backyard of the country's entertainment icons, including Disney, DreamWorks, Pixar and Universal Studios. For years the center has introduced cutting-edge retail concepts to its customer base. Bloomingdale's is the epitome of the Glendale shopper – stylish and fashion-forward," said Sandeep Mathrani, CEO, GGP.
Attracting more than 26 million annual visitors, the property is located within the City of Glendale's strong retail core, generating approximately $500 million in annual sales and $660 per-square-foot. For more than 30 years, Glendale Galleria has introduced first-to-market retail concepts, including the first Apple Store in the world and the first Disney Store. The addition of the 120,000-square-foot Bloomingdale's will enhance Glendale Galleria's unparalleled retail line-up.
The Bloomingdale's department store is expected to open fall 2013. Bloomingdale's is a full-line, upscale department store showcasing a portfolio representing the latest and most desirable merchandise across every category, providing a world-class retail experience. Bloomingdale's at Glendale Galleria is projected to include 175 associates.
"Bloomingdale's business in Southern California has developed rapidly since we opened our first store in the Los Angeles area in 1996. Glendale Galleria will be our eighth store in the market. Customers love our unique sense of contemporary style and the attentive service that sets Bloomingdale's apart," said Michael Gould, chairman and chief executive officer of Bloomingdale's. "Much like Bloomingdale's stores in Soho and Santa Monica, we expect our assortment and shopping experience in Glendale will be carefully edited for the community and customer."
"Glendale Galleria always has been a strong partner, working together with the city and its residents to provide the best in retail for the region. The addition of Bloomingdale's and the mall's renovation will serve to further strengthen the city of Glendale's retail core, adding both new jobs and shopping venues. GGP's plan offers an updated and even more appealing place to gather and shop with one another," said Mayor Laura Friedman, Glendale, California.
GGP is the second largest shopping center owner. GGP has ownership and management interest in 167 regional and super regional shopping malls in 42 states. The company portfolio totals 169 million square feet of space. A publicly-traded real estate investment trust (REIT), GGP is listed on the New York Stock Exchange under the symbol GGP.
SOURCE General Growth Properties