Westfield Corporation is reaching new heights with the new Lowy family leadership and the new mall openings including the recent World Trade Center Mall opening. After nearly fifteen years, the mall is reopening after the devastating 9/11 attacks on U.S. soil. The mall is owned by Port Authority but Westfield Corporation is responsible for all of the stores and retail operations.
On August 16th, people came out in record numbers to take a look at the new World Trade Center Mall, located in lower Manhattan and to start shopping. The mall boasts a 280-foot digital billboard, a performance area in the middle of the store (where one of the stars of Hamilton, Leslie Odom Jr., performed for the public, and more than 60 stores. Store options for busy shoppers include Apple, Aldo, Cole Haan, Dior, Eataly, Kiko Milano, and Tumi. The World Trade Center Mall is also expected to grow in popularity as it is considered a transit hub and people will find themselves browsing or stopping for a bite to eat as they go about their busy day.
Other new Westfield Corporation projects include the redevelopment of Westfield Century City in Los Angeles, CA and the luxurious Westfield Valley Fair in San Jose, CA. Westfield Century City’s transformation involved remodeling the entire three-story Bloomingdale’s and he addition of an Eataly as well as a Macy’s. The store will also include new retail space for more dining options and exciting new retail brands. The total square footage will total 1.2 million square feet.
Westfield Valley Fair is slated to end in 2019 and will feature a 150,000 square foot Bloomingdale’s department store along with Nordstrom, Macy’s, a dining district with outdoor lounge and promenade seating options, exciting events open to the public, and several dozen specialty stores.
The success of Westfield Corporation as well as the company’s latest improvements can be attributed to the Lowy family. In May 2016, Frank Lowly who co-founded the Westfield Group, stepped down from his role as chairman of Scentre. This move will give Lowy more time to focus on the Westfield Group. Furthermore, the Lowy family put $177.3 million dollars into the Westfield Corporation in order to ensure that the company could not be taken over by outsiders. The running of Westfield Corporation and the Westfield Group is a family affair with Frank Lowy’s son Peter Lowy, also a co-chief executive of Westfield in addition to being a direct beneficial holder. Several grandchildren are also working in various positions within the company. This dedication to the company has allowed it to continue to grow. Westfield Corporation is anticipating clearing approximately $1 billion each year in sales from their World Trade Center Mall alone.