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	<title>The Commercial Observer &#187; Westfield&#8217;s WTC Retail Takes Shape </title>
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		<title>The Commercial Observer &#187; Westfield&#8217;s WTC Retail Takes Shape </title>
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		<title>Westfield&#8217;s WTC Retail Takes Shape</title>

		<comments>http://commercialobserver.com/2012/05/westfields-wtc-retail-takes-shape/#comments</comments>
		<pubDate>Tue, 22 May 2012 15:53:28 -0400</pubDate>
					<link>http://commercialobserver.com/2012/05/westfields-wtc-retail-takes-shape/</link>
			<dc:creator>Daniel Edward Rosen</dc:creator>
				
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		<description><![CDATA[<p>Australian mall operator <strong>Westfield Group</strong> told attendees at the <strong>ICSC RECon in Las Vegas</strong> today that the company might be opening its stores at the World Trade Center development by March 2015, just one week after it officially inked its deal with the<strong> Port Authority of New York and New Jersey</strong> for a $1.25 billion deal to lease space at the site. <!--more--></p>
<p><a href="http://www.commercialobserver.com/2012/05/westfields-wtc-retail-takes-shape/wtc1/" rel="attachment wp-att-232373"><img class="alignleft size-medium wp-image-232373" title="wtc1" src="http://nyocommercialobserver.files.wordpress.com/2012/05/wtc1.jpg?w=400&h=296" alt="" width="400" height="296" /></a>The deal, which was first reported by <a href="http://www.nypost.com/p/news/business/westfield_inks_wtc_retail_deal_vQuAeJsMxffUvBTaMgI2jI?utm_medium=rss&amp;utm_content=Business" target="_blank">Steve Cuozzo at </a><em><a href="http://www.nypost.com/p/news/business/westfield_inks_wtc_retail_deal_vQuAeJsMxffUvBTaMgI2jI?utm_medium=rss&amp;utm_content=Business" target="_blank">The NY Post</a>, </em>was secured last week after Westfield made its first payment (reportedly just under $100 million) for its 50 percent stake in the World Trade Center's projected <strong>460,000 square feet</strong> of retail space.</p>
<p>Westfield gave attendees at ICSC in the Las Vegas Convention Center an intimate peek at its plans for the retail space, <a href="http://www.reuters.com/article/2012/05/22/uk-westfield-worldtradecenter-idUSLNE84L00320120522" target="_blank"><em>Reuters </em>reports</a><em>. </em></p>
<p><strong>352,000 square feet </strong>of retail space will be parceled out over three above-ground levels and two below ground, Westfield Co-Chief Executive <strong>Peter Lowy</strong> said.</p>
<p>The deal will also give Westfield an additional <strong>90,000 square feet</strong> of retail space.</p>
<p>And what kind of tenants should we expect to operate inside the World Trade Center?</p>
<p>"We're going to do something that no one can imagine," Lowy told <em>Reuters</em> during the International Council of Shopping Centers annual convention, or RECon, without elaborating further details.</p>
<p>What is known is that the stores will be tourist- and New Yorker-friendly, and will also feature a mixture of "upscale" food shops and a "very good" supermarket, Mr. Lowy told <em>Reuters. </em></p>
<p><strong>4 World Trade Center </strong>and <strong>3 World Trade Center </strong>will be the sites of the above-ground retail, while a good chunk of the retail will be located inside the WTC Transportation Hub.</p>
<p><em>drosen@observer.com </em></p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p>Australian mall operator <strong>Westfield Group</strong> told attendees at the <strong>ICSC RECon in Las Vegas</strong> today that the company might be opening its stores at the World Trade Center development by March 2015, just one week after it officially inked its deal with the<strong> Port Authority of New York and New Jersey</strong> for a $1.25 billion deal to lease space at the site. <!--more--></p>
<p><a href="http://www.commercialobserver.com/2012/05/westfields-wtc-retail-takes-shape/wtc1/" rel="attachment wp-att-232373"><img class="alignleft size-medium wp-image-232373" title="wtc1" src="http://nyocommercialobserver.files.wordpress.com/2012/05/wtc1.jpg?w=400&h=296" alt="" width="400" height="296" /></a>The deal, which was first reported by <a href="http://www.nypost.com/p/news/business/westfield_inks_wtc_retail_deal_vQuAeJsMxffUvBTaMgI2jI?utm_medium=rss&amp;utm_content=Business" target="_blank">Steve Cuozzo at </a><em><a href="http://www.nypost.com/p/news/business/westfield_inks_wtc_retail_deal_vQuAeJsMxffUvBTaMgI2jI?utm_medium=rss&amp;utm_content=Business" target="_blank">The NY Post</a>, </em>was secured last week after Westfield made its first payment (reportedly just under $100 million) for its 50 percent stake in the World Trade Center's projected <strong>460,000 square feet</strong> of retail space.</p>
<p>Westfield gave attendees at ICSC in the Las Vegas Convention Center an intimate peek at its plans for the retail space, <a href="http://www.reuters.com/article/2012/05/22/uk-westfield-worldtradecenter-idUSLNE84L00320120522" target="_blank"><em>Reuters </em>reports</a><em>. </em></p>
<p><strong>352,000 square feet </strong>of retail space will be parceled out over three above-ground levels and two below ground, Westfield Co-Chief Executive <strong>Peter Lowy</strong> said.</p>
<p>The deal will also give Westfield an additional <strong>90,000 square feet</strong> of retail space.</p>
<p>And what kind of tenants should we expect to operate inside the World Trade Center?</p>
<p>"We're going to do something that no one can imagine," Lowy told <em>Reuters</em> during the International Council of Shopping Centers annual convention, or RECon, without elaborating further details.</p>
<p>What is known is that the stores will be tourist- and New Yorker-friendly, and will also feature a mixture of "upscale" food shops and a "very good" supermarket, Mr. Lowy told <em>Reuters. </em></p>
<p><strong>4 World Trade Center </strong>and <strong>3 World Trade Center </strong>will be the sites of the above-ground retail, while a good chunk of the retail will be located inside the WTC Transportation Hub.</p>
<p><em>drosen@observer.com </em></p>
<p>&nbsp;</p>
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