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Macerich Sells Phoenix Mall To Developer For $100M


Macerich president Edward Coppola and a rendering of the redevelopment in Pheonix (Macerich/City of Pheonix)
Macerich Company has sold a Phoenix mall for $100 million, as the mall REIT continues to battle back from a withering year of losses.
The buyer is a joint venture affiliated with Red Development, according to the Los Angeles Business Journal.
Santa Monica-based Macerich retained a 5 percent interest in the JV, which plans to redevelop the Paradise Valley Mall, on property that encompasses 92 acres, into a mixed-use complex.
The redevelopment plan includes adding 3.25 million square feet of multifamily buildings, office space, and retail including a grocery store and restaurants. The mall was built in 1978 and was recently rezoned. ....

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Phoenix shop targeting Gen Z tastes has vintage, contemporary fashion


There s a new clothing store in Phoenix geared toward Generation Z shoppers. 
Resale Revolution opens on April 1 at the open-air Shops at Town & Country plaza located at 2021 E. Camelback Road in Phoenix. 
It s the latest venture from Chrissy Sayare, co-owner of the luxury consignment boutique To Be Continued. Resale Revolution will cater to customers who want to buy or sell pre-owned styles.
The new store offers a mix of vintage and contemporary garments from brands such as Alice + Olivia with designer brands like Chanel and Louie Vuitton. The store focuses on those people born in the early 2000s and 2010s – also known as Gen Z. ....

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