CHICAGO, May 17, 2013 /PRNewswire/ -- General Growth Properties (NYSE: GGP) and Bloomingdale's announced today the opening of a 167,000-square-foot, three-level store at Ala Moana Center, one of the world's most visited shopping malls located in Honolulu, Hawaii, in late 2015. The luxury department store will serve as the centerpiece of a major retail expansion and common area renovation at Ala Moana Center. When open, Bloomingdale's joins Nordstrom, Neiman Marcus and Macy's, and an extensive list of luxury and fashion tenants including Bottega Veneta, Balenciaga, LVMH, Hermes, Chanel, Gucci, Cartier, Harry Winston, Tiffany & Co., Tory Burch, Victoria's Secret, Abercrombie & Fitch, Apple, Microsoft and nearly 300 global and regional retailers and restaurants.
The Sears building, when closed, will be demolished and transformed into 650,000 square feet of new retail, including the Bloomingdale's department store, large format retailers, dining, entertainment and 200,000 square feet of inline retailers. The entire mall will receive a face-lift, including an upgraded food court, customer amenities, landscaping and pedestrian access from Ala Moana Boulevard. Ala Moana Center is today the world's largest open-air shopping mall.
"Ala Moana is an iconic mall with world recognition. Its sales productivity exceeds $1,400 per square foot with 42 million shopper visits annually. Adding Bloomingdale's to its stellar department store and retailer line-up only furthers Ala Moana's status as a premier retail destination. I believe the expansion and renovation of Ala Moana will set the standard of excellence for re-investing in a property," said Sandeep Mathrani, CEO of General Growth Properties, owner of Ala Moana Center.
"Ala Moana will provide an exceptional environment for the distinctive, upscale shopping experience for which Bloomingdale's is world famous. It is a beautiful open-air shopping center that is a recognized destination not only for local customers from the Hawaiian islands, but also for visitors from the U.S. mainland, Asia and worldwide," said Michael Gould, chairman and chief executive officer of Bloomingdale's. "In Hawaii, we will offer global customers the unique Bloomingdale's sense of contemporary style, as well as the attentive service that sets us apart."
Bloomingdale's is America's only nationwide, full-line, upscale department store. Its parent company, Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2012 sales of $27.7 billion. The company operates about 840 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's, as well as the macys.com and bloomingdales.com websites and 12 Bloomingdale's Outlet stores. Bloomingdale's in Dubai is operated by Al Tayer Group LLC under a license agreement.
General Growth Properties is a fully integrated, self-managed and self-administered real estate investment trust focused exclusively on owning, managing, leasing, and redeveloping high quality retail properties throughout the United States. GGP's portfolio is comprised of 124 malls in the United States totaling approximately 124 million square feet. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.
SOURCE General Growth Properties