CALIFORNIA’S BROADWAY PLAZA OPENS EXPANDED RETAIL CENTER

Broadway Plaza
by Stephen Garner Sep 06, 2016
Broadway Plaza
Rendering of new Broadway Plaza expansion

National retail real estate development company Macerich has official opened the expansion and major redevelopment of Broadway Plaza in Walnut Creek, California.

The open-air retail center, anchored by Nordstrom, Neiman Marcus and Macy’s, has unveiled additions that more than double mall shop space, adding 50+ new stores. In all, total GLA for Broadway Plaza, the foremost retail destination for the East Bay market of San Francisco since 1951, is now more than 900,000-square-feet. The expansion is over 90 percent leased.

In addition to the new retailers, this major transformation that launched in 2014 includes adding multi-level new parking structures, expanded walkways, new seating areas, art installations and a central plaza for events and brand activations. Key to the project was demolishing and replacing two older, inefficient parking structures and about 80,000 square feet of existing small shop retail space and the 70,000 square-foot former Macy’s Men’s store – all to make room for more GLA and modern store designs, including new two-level flagship locations for first-to-market Arhaus, as well as Gap, H&M and Zara.

“Macerich excels at adding significant value to our well-positioned fortress properties through redevelopment, and Broadway Plaza is a prime example of our proven approach,” said Randy Brant, executive vice president of Macerich. “At Broadway Plaza, we have expanded this unique street-retail setting to meet extensive retailer demand to be part of our high-performing property, while also enhancing the amenities, pedestrian appeal and pleasing scale of this irreplaceable downtown retail asset.”

“After a successful partnership of over 30 years with Macerich, Northwestern Mutual is delighted to be part of this grand opening celebration,” added Rich Dooley, a director in Northwestern Mutual Real Estate’s San Francisco field office. “We are excited about the future of Broadway Plaza as the redevelopment will deliver many new and exciting shopping experiences to the community of Walnut Creek.”