NEWS | PRESS RELEASES

Back to Press Releases

Westcor and Dillard's Unveil Future Shopping Center Development

09.18.08

Site Plan and Anchor Announced for Palisene in Northeast Phoenix.

Westcor, subsidiary of Macerich® (NYSE:MAC) today announced plans for the much anticipated northeast Phoenix future retail development, Palisene, including a one million square foot, retractable roof, enclosed regional shopping center with Dillard’s (NYSE:DDS) signing on as the first of four planned anchors.

Today’s announcement continues the momentum of Westcor’s vision to deliver a marketdriven, remarkable retail central hub at the highly desirable northeast Phoenix, Scottsdale Road intersection with an anticipated 2011-2012 shopping center opening. The opportunity to create a nationally known retail address at this site became possible earlier this year after Westcor entered into a partnership with DMB, developers of the adjacent mixed-use development, One Scottsdale, and then in April acquired the land for Palisene from Arizona’s State Land Department.

“We’re making great strides in realizing our vision for this high-profile Scottsdale Road intersection,” said Art Coppola, CEO for Macerich, Westcor’s parent company. “Dillard’s commitment is a superb testimonial to this location and the idea of Palisene – a regional shopping center that will perfectly complement One Scottsdale’s luxury retail offerings across the street.”

Palisene will feature a shopping center marked by creativity and innovation. The center’s design includes a potential retractable roof offering shoppers the best of both worlds. Though Palisene may be built as an enclosed center, the design would allow the desirable attributes of an outdoor center including concrete sidewalks or pavers in the place of tile, plush landscaping on the interior as well as the exterior and store fronts designed as typical street front shops.

The retail portion of the mixed-use Palisene begins with Dillard’s committing as one of four planned anchors at the center. “Aligning with Westcor to deliver Palisene is the prime opportunity for Dillard’s to enter this blossoming northeast Phoenix market,” said Dillard’s Chief Executive Officer, William Dillard, II. “This will be a powerful retail address in Phoenix and a strategic location for Dillard’s to deliver a very strong store.”

A focus on energetic mixed-uses will be a key feature of the Palisene project, with plans to include unique dining options for this affluent market, world renowned hotels, Class A office and a compelling list of one-of-a-kind amenities.

“The shopping district we are offering retailers at this Scottsdale Road address is unprecedented,” said Coppola. “The Palisene and One Scottsdale vision will be on the map as one of the greatest retail hubs in the west.”

Founded in 1969, Phoenix-based Westcor is a wholly owned subsidiary of Macerich. The largest owner-manager of commercial properties in Arizona, Westcor's portfolio currently consists of over 17 million square feet of retail space at 31 shopping centers, including 13 super-regional centers and 18 community and specialty centers. The company has set the industry benchmark for ground-up shopping center development, such as Chandler Fashion Center, SanTan Village and Scottsdale Fashion Square. In addition to responsible development, Westcor takes an integrated approach to charitable giving, using a variety of resources to make a difference in the communities, including volunteer programs, contributions and our partnership with the Step Up Women's Network, a national non-profit organization dedicated to strengthening community resources for women and girls. Additional information about Westcor is available online at www.westcor.com.

Dillard’s, Inc. is one of the nation’s largest fashion apparel and home furnishing retailers. The Company’s stores operate with one name, Dillard’s, and span 29 states. Dillard’s stores offer a broad selection of merchandise, including products sourced and marketed under Dillard’s exclusive brand names. More information about Dillard’s, please visit www.dillards.com.

Download PDF

Back to Press Releases