June 30, 2016
Sydney, Australia-based Westfield is buying the soon-to-be vacated Nordstrom’s building at Horton Plaza in downtown San Diego. The 144,000-square-foot department store is slated to close in August.
The retailer was an original anchor when the 738,200-square-foot Gaslamp Quarter project opened in 1985 as one of the country’s most edgy and provocative shopping centers. Nordstrom is closing the location due to poor performance, and is opening an upscale replacement store at Westfield’s UTC center.
Westfield says the departure of a key retailer opens up “a range of opportunities and new prospects” that can “introduce new life, energy and choices” at the property. Among the ideas being explored are a mix of uses including hotel, multifamily, office and re-configuring the retail levels. The mall owner may phase in changes or shutter the whole center in order to redevelop it.