Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/853369
26 S C T / A U G U S T 2 0 1 7 D E V E L O P M E N T D I G E S T F R O M R E N D E R I N G TO G R A N D O P E N I N G Rouse's NewPark Mall, in Newark, Calif., is new again By Ben Johnson I t has been about a decade in the making, but Rouse Properties' recent redevelopment of NewPark Mall, in the East Bay market of San Francisco, could be the catalyst to reposition the center as a revitalized, more relevant destination for locals in and around Newark, Calif., for decades more. Rouse acquired the 1.1 million- square-foot mall, which opened in 1980, in 2012 as part of its spinoff from GGP (then General Growth Properties). "We saw a distressed asset sitting on 100 acres in one of the most sought-after markets to live and work in California," said Rouse CEO Brian Out with the old L. Harper. Average household income in the immediate trade area, which comprises nearly 700,000 people, is $125,000 annually. Some 272,000 motor vehicles pass by daily along Interstate 880. "Given these strong fundamentals, we saw a tremendous opportunity to add substantial value to the community by transforming this outdated shopping center into the East Bay's leading retail, entertainment and dining destination." The redevelopment, including a comprehensive interior remodel, was completed over the summer of 2016 and has improved accessibility and Improvements include a new, two-story, glass-enclosed restaurant pavilion