Shopping Center Business

MAY 2015

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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302 • SHOPPING CENTER BUSINESS • MAY 2015 like Melrose, Robertson and Abbot-Kin- ney and see what draws people to those areas. Those places have found a niche with an eclectic mix of fashion, retail and dining. That's different than what you'd typically find in a conventional mall-type environment so we are introducing some new uses into our centers to differentiate them from other properties." Westfield last expanded the center around 2005, adding a new AMC the- ater and dining terrace to the property. Century City's new addition and reinven- tion will create an expanded offering of restaurants, more shops and new anchors. "This expansion, apart from introduc- ing Nordstrom and moving Macy's, effec- tively makes the small shop area two levels through the center, and will add a third level with the existing AMC Theatres, new gym and other uses," says Miles. Next up on Westfield's drawing boards are plans for continued reinvestment in Westfield University Town Center in San Diego, which will follow on to its $180 million initial phase that opened in late 2012. Like it has done with Westfield Lon- don and Westfield Stratford in the United Kingdom, and as it is doing with Westfield World Trade Center in New York City, the company is striving to create iconic centers that serve strong markets that have a demand for retail and restaurants. "Globally, our interest is being in places where there is high demand and generally affluent shoppers," says Miles. "We are focused on food, fashion and entertain- ment. When our vision is aligned with the psychographics of our market, we end up with a powerful product. We think there is an opportunity to take some of our centers to another level, where they are offering reasons to visit beyond com- modity purchasing. In addition to seeking goods, our shoppers want a place to meet their friends and a place where they can go to be entertained." SCB A rendering of The Village at Westfield Topanga. With The Village, The Promenade and Westfield Topanga, the company now has a dominant retail presence in the market.

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