Macerich Co. said Tuesday that upscale retailer Nordstrom will become a new anchor at Santa Monica Place after the mall reopens following its top-to-bottom facelift.

The new Nordstrom store at Santa Monica Place will be a three-level, 122,000-square-foot store scheduled to open in fall 2010. The mall itself, which is scheduled to reopen in fall 2009, is being transformed from an enclosed shopping center to a three-level, 550,000-square-foot open-air retail plaza adjacent to the Third Street Promenade.

"The extraordinary appeal of Nordstrom is a great match for this exceptional
market, and for what we believe will be a one-of-a-kind retail project two
blocks from the beach in downtown Santa Monica," said Randy Brant, Macerich executive vice president of real estate, in a statement. Macy's already is a longtime anchor at the mall.

Santa Monica-based Macerich owns about 77 million square feet of leasable area, mostly consisting of interests in 72 regional malls.

Macerich shares closed down $1.02, or 2 percent, to $53.01 on the New York Stock Exchange.

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