VALENCIA MALL GETS NEW NAME WESTFIELD SHOPPINGTOWN LABEL ON TOWN CENTER.Byline: Eugene Tong Staff Writer VALENCIA - Farewell, Valencia Town Center. Welcome, Westfield Shoppingtown Valencia. Just days after The Westfield Group The Westfield Group is a multinational company that owns shopping centres in Australia, New Zealand, the United Kingdom, and the United States. Westfield shopping centres are typically branded with the name Westfield or Westfield Shoppingtown in their name. acquired a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Santa Clarita Santa Clarita, city (1990 pop. 110,642), Los Angeles co., S Calif., suburb 30 mi (48 km) NW of downtown Los Angeles, on the Santa Clara River; inc. 1987. Situated in the Santa Clara valley and nearby canyons, Santa Clarita includes the former towns of Canyon Country, Valley's largest shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into , the company will rename the 860,000 square-foot mall a ``Westfield Shoppingtown,'' officials said in a statement Thursday. Also, the company will add lounges, an expanded concierge service and other features found throughout its holdings - 10 in total in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County. ``We're thrilled to be expanding in the Los Angeles region and joining the Valencia community,'' Eileen Bohen, Westfield's regional marketing director, said in a statement. ``We are looking forward to offering our renowned customer services and amenities to our new customers to help improve their shopping experience.'' Westfield, which acquired a 25 percent stake in the Town Center in 2002, increased its ownership to 50 percent in a deal with LNR LNR Local Nature Reserve (United Kingdom) LNR Last Number Redial LNR London News Radio LNR Left/Node/Right (in order binary tree traversal in computer programming) LNR Local Negotiated Rate Property earlier this week. Terms of the sale were not disclosed. Charles Gill, the Town Center's manager, and Kathleen Gill, his wife and marketing manager, resigned amid the management shift. Australia-based Westfield operates nine other malls in the Los Angeles region, including Westfield Shoppingtown Promenade in Woodland Hills, Westfield Shoppingtown Topanga in Canoga Park and Fashion Square Sherman Oaks. The group holds interests in 127 shopping centers in Australia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , the United Kingdom and the United States. Before the sale, the city of Santa Clarita was reviewing a 600,000- square-foot expansion, including two new department stores. Already anchored by Robinsons-May, Sears and J.C. Penney, management was trying to coax Macy's and Nordstrom to the mall. Margaret Stephens, Westfield's regional vice president of marketing, declined to comment on the expansion plans, but acknowledged that the mall has potential for growth. ``Certainly we feel a lot of potential for the property,'' she said. ``But it's premature to comment.'' The Newhall Land and Farming Company The Newhall Land and Farming Company is a land management company based in Valencia, California, United States. The company is responsible for the master community planning of Valencia, as well as the management of farm land elsewhere in the state. built and owned the Town Center until LNR Property took over. LNR and Miami-based home builder Lennar Corp. acquired Newhall Land for $990 million last year. LNR was purchased Monday by Cerberus Capital Management, a privately held, New York-based investment group. Eugene Tong, (661) 257-5253 eugene.tong(at)dailynews.com |
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