Seeking more flexibility in the redevelopment of their shopping centers, The Macerich Co., owner of Santa Monica Place, announced Wednes day that it will purchase 11 former Robinsons-May stores, including one here that has sat vacant for more than a month.
With the sale, Macerich plans to move forward with discussions about the future of Santa Monica Place, which could include adding another major retailer to replace Robinsons-May, or remodeling that section of the mall so that it is more in line with recent trends in retail construction — open-air shopping centers, or “lifestyle centers,” complete with retail, restaurants, movie theaters and recreation.
“With the feedback we’ve received through the community meetings, the insights from our retailers and this announcement, we have a tremendous opportunity to re-invent Santa Monica Place,” said Jean Huber, who manages the mall for Macerich. “With the acquisition, we can look at different ways to work with the space and come up with a great plan that we will be able to unveil.”
Huber said no plans have been finalized.
Residents are closely watching Macerich following an attempt in 2004 to tear down Santa Monica Place and replace it with mixed-use development that included three buildings as high as 21 stories.
Recently, a group of concerned citizens known as the Coalition for a Livable Santa Monica won a settlement with the city over internal communications with officials from Macerich, City Council members and city staff. The coalition wanted to see how an initial proposal to redesign the mall turned into a request for redeveloping the site with added commercial and residential space.
Federated Departments Stores Inc. is selling the 11 properties after closing scores of Robinsons-May stores across the country, including 14 in California; the aftereffects of a merger last year between Federated and May Co., the parent of Robinsons-May.
As part of the $11 billion merger, Federated said it would close all Robinsons-May stores in malls where there was also a Federated-owned Macy’s. Santa Monica Place fell into this category.
Macerich put plans on hold for the redevelopment or “re-merchandising” of the mall, waiting for Federated to make the next move.
“The thing with retail is you don’t want to stay static,” Huber said of Macerich’s desire to change the look of Santa Monica Place, which the company purchased in 1991. “Everything is evolving, so you’re always looking at ways to make your property better.”
The price of the 11 properties being sold by Federated was not disclosed by Macerich, with the deal not expected to close until July 6.
The malls involved in the sale include: Santa Monica Place, The Oaks Shopping Center in Thousand Oaks, Los Cerritos Center in Cerritos, Lakewood Center Mall in Lakewood, Pacific View Mall in Ventura, and several other shopping centers in Arizona and Connecticut.
Originally published in the Santa Monica Daily Press print edition on May 4, 2006. Read the original PDF.