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Looks like the gloves are coming off as the mall's owner, General Growth Properties, must keep pace with Rick Caruso's Americana at Brand - especially after Nordstrom announced plans to leave the Galleria in 2013 and hook up with the Caruso property. General Growth CEO Sandeep Mathrani said that a bankruptcy reorganization in 2009 and 2010 prevented the company from overhauling the Galleria, something that Nordstrom apparently had been pushing. He offered no details on the renovation, other than it'll happen this summer. From the Glendale News-Press:
Mathrani said the Galleria continues to do well overall, with remaining anchors Macy's, Target and JCPenney doing "astronomical volume." "The mall does over $600 a square foot. It's over 90% leased, and we've added new tenants," Mathrani said.
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.