Arrowhead Towne Center

Arrowhead Towne Center is a super-regional shopping mall located in Glendale, Arizona (west suburban Phoenix). The mall is owned by Macerich & GIC Private Limited. It is anchored by Macy's, Dillard's, JCPenney, Dick's Sporting Goods, and AMC Theatres and is home to 180 tenants.[2]

Arrowhead Towne Center
LocationGlendale, Arizona, United States
Address7700 W Arrowhead Towne Center
Opening dateOctober 1993
DeveloperWestcor
ManagementMacerich
OwnerMacerich (60%) and GIC (40%)
No. of stores and services180
No. of anchor tenants7 (5 open, 2 vacant)
Total retail floor area1,197,000 sq ft (111,200 m2)[1]
No. of floors2
Websitearrowheadtownecenter.com

History

The mall opened in October 1993 on land formerly occupied by an orange grove, located at Bell Road and 75th Avenue, and was jointly developed and owned by Westcor and General Growth Properties (the former which owned a two-thirds share and managed the mall, and the latter which owned a one-third share).

In 2002, Westcor was acquired by Macerich, who continues to manage the mall today. In 2011, GGP sold its 1/3 ownership in the mall (along with its 1/3 ownership of Superstition Springs Center in Mesa), with Macerich assuming full ownership.

Since about 2007, Arrowhead Towne Center has been undergoing a transition to serve a more affluent and upscale shopper, in relation to its traditional middle-income customer base. The mall is already home to the West Valley's first Sephora location (opened in 2007), as well as Swarovski, Coach, and the West Valley's first Apple Store (which opened in the summer of 2008). In the past, West Valley shoppers have had to travel to Biltmore Fashion Park and Scottsdale Fashion Square, on the east side of the metropolitan area, to patronize retailers of this caliber. All of these tenants are new to Glendale.

In 2015, Sears Holdings spun off 235 of its properties, including the Sears at Arrowhead Towne Center, into Seritage Growth Properties.[3] The following year, Macerich sold 40% of the mall to GIC Private Limited.[4]

In April 2019, it was announced that Sears would be closing. The store closed in July 2019. [5]

In October 2019 Forever 21 announced it would be closing its anchor store at the mall as the retailer closes 350 stores worldwide as part of its Chapter 11 bankruptcy. [6]

Anchors
  • AMC Theatres 14 Plex (46,123 sq ft (4,285.0 m2)) - Opened 1996
  • Dick's Sporting Goods (70,000 sq ft (6,500 m2) - Opened 2008
  • Dillard's (212,706 sq ft (19,761.0 m2)) - Opened 1993, Original Anchor
  • JCPenney (160,173 sq ft (14,880.6 m2)) - Opened 1993, Original Anchor
  • Macy's (200,000 sq ft (19,000 m2) - Opened 2006

Former Anchors

References
  1. http://www.macerich.com/Leasing/Property/141
  2. http://www.arrowheadtownecenter.com/Directory/Map
  3. http://www.seritage.com/retail/property/7780-w-arrowhead-towne-center/3312682/landing
  4. Yu, Hui-yong (January 4, 2016). "Macerich Sells Mall Interests to GIC, Heitman for $2.3 Billion". Bloomberg News.
  5. https://www.abc15.com/news/business/forever-21-to-close-three-arizona-stores
  6. https://www.abc15.com/news/business/forever-21-to-close-three-arizona-stores

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