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Caruso to Invest $60M in Shopping Center

Americana at Brand generates annual sales of $1,100 per square foot out of its 70 stores.

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The Americana at Brand is getting better with age. Timed with the Glendale, Calif., shopping center’s 5th anniversary, Rick Caruso, founder and chief executive officer of Americana at Brand owner Caruso Affiliated, said Wednesday that the company is investing $60 million in enhancements to the property and its surrounding areas. “We are moving toward [becoming] the finest center in the world,” said Caruso, who mentioned that the Americana at Brand generates annual sales of $1,100 per square foot out of its 70 stores.

On 15.5 acres housing nearly 500,000 square feet of retail and residential space, the Americana at Brand will also welcome a new 135,000-square-foot Nordstrom store in September of this year, which will replace a 147,000-square-foot store at the neighboring Glendale Galleria that opened in 1983. “It served us very well for a number of years, but, obviously, it's very tired,” said Robert Middlemas, executive vice pesident and regional manager for Southern California at Nordstrom, of the Glendale Galleria store. “So, we had an opportunity to get the size and the store design we wanted.” Meanwhile, Nordstrom is revamping its store at another Caruso Affiliated property, The Grove. “Every bit of the store is being touched and redesigned,” said Middlemas.

Eventually, though, he hopes sales at the Americana at Brand store will rival the unit at The Grove, one of Nordstrom’s top-performing stores. “It certainly has that opportunity,” said Middlemas.

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