California-based shopping center owner Macerich is preparing a “strategic redevelopment” of Tysons Corner Center in McLean, VA, reported the Washington Business Journal. Macerich plans to invest more than $100 million on renovations to the mall, including $66 million in retailer investments for store upgrades and $45 million in improvements to common areas.
The redevelopment will include a “reimagining” of the mall’s west end, anchored by Bloomingdale’s and Macy’s, according to an investor presentation that spotlights Tysons Corner Center as a case study. The plan is to turn that section of the mall into “a vibrant and walkable retail, dining and entertainment district, anchored by upscale dining and a luxury market.”
At 1.8 million square feet, Tysons Corner Center is the largest shopping mall in Greater Washington, DC, according to the Business Journal. “Tysons Corner Center has solidified its position as a retail powerhouse, and we continue to enhance the center,” Macerich said in its presentation.
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