KTAR
Biltmore Fashion Park’s transition from shopping mall to lifestyle center will feature new tenants and upgrades over the next three years.
According to the Phoenix Business Journal, Macerich Co., a California-based real estate investment trust, plans to make changes to the aging mall, which opened in 1963.
The first round of changes will come in the form of new businesses and retailers, most of them replacing shops that have already closed their doors.
“When we see store closures, it isn’t indicative to how a certain center is doing,” Kim Choukalas, vice president of leasing for Macerich, told the Journal.
