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Westfield Planning $750M Mall


Westfield has unveiled plans for a $750 million mall in California. What's interesting is the new property will connect with two other Westfield centers--Topanga and Promenade--to create a massive 3.8-million-square-foot retail complex.

The project planned by the Westfield Group would add a third mall, a hotel and residences to Westfield's existing properties in the west San Fernando Valley for a combined 3.8 million square feet of retail, office and residential space.

Plans for the $750-million outdoor village call for a 300-room hotel, 150 condominiums and apartments, offices and 550,000 square feet of shops and restaurants. Westfield officials said they don't plan to include department stores in the new mall.

The Village at Westfield Topanga is expected to attract 10 million visitors a year, on top of the 24 million who shop at Topanga and the Promenade annually. The new development could help Los Angeles boost its retail numbers, said Jack Kyser, chief economist for the Los Angeles Economic Development Corp.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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