Shopping Centers Today

JUL 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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24 S C T / J U L Y 2 0 1 8 Pruneyard, a 1970s-era Silicon Valley shopping center, gets a 50th anniversary makeover By Ben Johnson R enovations are coming together at e Pruneyard, a Silicon Val- ley mixed-use project compris- ing a 253,000-square-foot shopping center that was built in 1969, some 365,000 square feet of office space and a 171-room DoubleTree by Hilton hotel, in the affluent West Valley city of Campbell. San Francisco–based Ellis Partners purchased the center from Equity Office Properties for $280 million in 2014 and soon aerward announced plans for a renovation and expansion. Ellis Partners also owns Town & Country Village, a shopping center in Palo Alto, Calif., that was built in 1953 and which the firm renovated over several years. "We have a history of purchasing retail properties that are long-stand- ing retail destinations," said James F. Ellis, an Ellis Partners managing principal. "is property had not really been remerchandised or reno- Iconic refresh vated in over 20 years, and we were quite enamored of what we saw on the ground. e physical environment there communicated a unique look and feel for the type of retail project that we like to do." Of course, as would be expected of any 1970s-vintage shopping center, Pruneyard has seen major changes occur in the surrounding commu- nity. "We really saw the potential to create a very unique experience-based environment that could be something that would allow us to redirect the attraction of the center to the current demographics, versus the demograph- ic that existed 20 years ago in the West Valley," said Ellis. e firm obtained approval for the phased redevelopment aer working with the city of Campbell over a two- year period. e first phase, which involved the renovation, was complet- ed last April. Now under construction is a 5,500-square-foot retail building 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 Ellis worked with the city to gain approval for subdividing the 27-acre property into three parcels, based on usage types

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