| Westfield San Francisco Centre |
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Information AboutWestfield San Francisco Centre |
| CATEGORIES ABOUT WESTFIELD SAN FRANCISCO CENTRE | |
| shopping malls in california | |
| buildings and structures in san francisco | |
| the westfield group | |
| san francisco centre | |
| forest city enterprises | |
| shopping centers established in 1988 | |
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After a slow start it soon became one of the top performing shopping centers in the country. In 1996 the adjoining Emporium (it had dropped the Capwell name by then) was shuttered in the wake of Federated Department Stores ' buyout of its parent Broadway Stores . In May 1997 Urban Shopping Centers, Inc. (a Real Estate Investment Trust) acquired an half-interest and management of the center. This was followed by Urban's own buyout by Rodamco North America N.V. (a European property firm primarily invested in the United States) in October 2000 and Rodamco’s subsequent buyout by Westfield, Simon Property Group and The Rouse Company in January 2002. Westfield acquired its initial stake in the center at this time and soon bought out its partners. In 2003, Forest City Enterprises , which had acquired redevelopment rights to the long vacant Emporium store from Federated, reached an agreement with Westfield to jointly redevelop the two properties. The newly expanded mixed-use Westfield San Francisco Centre (at an estimated 1,450,000 square feet) that will be unveiled in September 2006 will include a new Bloomingdale's West Coast flagship store, a 9-screen Century Theatres multiplex theater and a satellite campus for San Francisco State University in its 1,450,000 square feet of space. The announced redevelopment cost is $440,000,000. Upon completion of the redevelopment, Bloomingdale’s will assume ownership of its store, and Forest City will convert to an equity partner with Westfield maintaining majority ownership and management. |
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