78.5 F
San Fernando
Saturday, Feb 8, 2025

EXECUTIVE SUMMARY / THE PACESETTER

This year’s Largest Shopping Malls and Retail Centers list has been expanded to include not only large shopping malls but strip malls and local shopping centers as well. The locations on the list combined achieve a total of 22.6 million square feet of gross leasable area (GLA), with 2,756 stores and more than 102,292 parking spaces. While most of the smaller retail centers are managed independently, a few large corporations dominate the ownership of malls and retail sites in the valley. General Growth Property and Westfield Corporation each owns four major malls while Caruso Affiliated owns three centers and Macerich owns two. These companies round out the top four mall owner/developers in the greater Valley region. Based on the data collected, the average mall in the area has 565,000 square feet of GLA, 2,557 parking spaces, 1.5 levels, 68 stores and has been open on average for 22 years. – Ari Morguelan Northridge Fashion Center For the second year in a row, Northridge Fashion Center (N.F.C.) tops the Business Journal’s list of the Largest Retail Centers and Malls. With more than 1.4 million square feet of gross leasable area, 7,000 parking spaces, two levels and 170 stores, the N.F.C. sets the bar high for Valley area retail centers. Located in the heart of Northridge, the N.F.C. stores and restaurants generally cater to the mid-range of retail customers with anchors Macy’s, JCPenney and Sears setting the tone. N.F.C. is one of four malls in the San Fernando Valley Area owned and operated by Chicago based General Growth Properties Inc. (GGP) with the Glendale Galleria, Burbank Town Center and Fallbrook Center being the others. Combined, the properties owned and operated by GGP maintain nearly 5 million square feet of GLA, have 602 stores, 23,620 parking spaces, and 9 floors of air-conditioned consumerism. – Ari Morguelan

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