January 8, 2016
Irvine Company has revealed a $150-million reinvestment plan for the Irvine Spectrum Center, that aims to continue the shopping center’s steady success. Irvine Company’s proactive plan is the largest and most comprehensive in the mall’s history. It’s also well-timed to the center’s 20th anniversary, and follows the news that Macy’s is closing 40 stores in the U.S., one of which is located in the Spectrum Center.
On top of adding new retailers, changes include new landscaping, outdoor seating and shade areas, state-of-the-art amenities, and circulation and parking-garage improvements. To remain vibrant and relevant, the popular center will focus on more than 20 curated stores closely aligned with consumer’s changing-tastes. The stores will be housed within two new buildings on the current site of Macy’s.
“The Macy’s closing has been contemplated for months, and has provided us with a unique opportunity to rebalance Irvine Spectrum Center with additional retail stores, thus ensuring that it continues as one of Southern California’s premier shopping, dining and entertainment lifestyle destinations,” said Easther Liu, chief marketing officer for Irvine Company Retail Properties.