Fashion Centre at Pentagon City explained

Fashion Centre at Pentagon City
Location:Arlington, Virginia, United States
Developer:Melvin Simon & Associates &<br> Rose Associates
Owner:Simon Property Group (42.5%)[1]
Number Of Stores:164
Number Of Anchors:2
Floor Area:1037258square feet
Floors:4 (3 in anchors)
Publictransit:Washington Metro


at Pentagon City
Metrobus: 7A, 10A, 16E, 16M, 22A, Metroway
Arlington Transit: 42, 74, 84, 87

Fashion Centre at Pentagon City, originally the Pentagon City Mall, is an enclosed shopping mall in the Pentagon City neighborhood of Arlington, Virginia, near Interstate 395 and Hayes Street. Its Metro level is directly connected to the Pentagon City station on the Blue and Yellow Lines of the Washington Metro. The mall features Macy's and Nordstrom, and also houses the Ritz-Carlton Pentagon City hotel.

Completed in October 1989, the Fashion Centre is the largest enclosed shopping mall in Arlington, housing 164 retailers and restaurants. The Washington Tower office building, formerly leased by MCI, is part of the mall property;[2] its lower levels are part of the mall.

History

The mall was developed by Melvin Simon & Associates with real-estate investment firm Rose Associates as part of the 1976 Pentagon City Phased-Development Site Plan.[3] It opened in fall 1989 with 860,000 sq. ft. of space[4] on 25 acres, with Macy's and Nordstrom as anchor stores (original plans were for Bambergers)[5] and approximately 150 other stores, and a 4,524-capacity parking garage; the office tower part of the complex opened a little later,[6] and the 345-room hotel the following year.[7] The interior featured a white color scheme and skylit atria extending in two wings from the central courtyard.[7] The mall theater, Loews Pentagon City 6, closed on January 1, 2003, and was replaced by a clothing store.[8]

Expansion of the mall, including outward-facing stores on Hayes Street, was approved by the county board in 2013,[3] at which time it had more than 170 stores.[9] [10] It was completed in 2016.[11] [12], the mall had 1.05e6sqft of space.[13]

On March 23, 2023, it was announced that IKEA will be opening a 5,000 sqft "Plan and Order" specialty format, the first in the Washington, D.C. region. It will feature interior design planning among IKEA specialists with any ordered furniture then delivered to a customer's residence.[14]

Tenants

As of 2018:[15]

Awards

The center was a finalist for the 2018 International Council of Shopping Centers 2018 US Design & Development and Retailer Awards.[15]

Ownership

In late 1990, Melvin Simon & Associates sold 50% of its interest in the mall to Lehndorff Group, a real estate management firm;[4] during 1991 it sold another 25% to other institutional investors, retaining a quarter interest and management of the center. Simon Property Group, the successor to the Simon shopping mall interests, subsequently raised its stake; it jointly owned the mall with Institutional Mall Investors, a joint venture of Miller Capital Advisory and CalPERS;[9], it had a 42.5% interest.[1] The Ritz-Carlton hotel is separately owned, by Xenia Hotels & Resorts.[1] [13]

External links

Notes and References

  1. Web site: Annual Report 2019 . Simon Property Group . 26 . November 11, 2020 .
  2. News: Jonah Keri . Pentagon City building offered after MCI leaves . Washington Business Journal . April 5, 1999 . November 11, 2020 .
  3. Web site: Arlington County Board Approves Expansion of Fashion Centre at Pentagon City Mall . Arlington County, Virginia . November 16, 2013 . November 11, 2020 .
  4. News: Kara Swisher . Kara Swisher. Pentagon City Mall Owner Sells Stake . The Washington Post . January 11, 1991 . November 11, 2020 .
  5. Book: Directory of major malls. 1990. MJJTM Publications . 631.
  6. News: Evelyn Hsu . New Front Established In Shopping Mall Wars . The Washington Post . July 3, 1989 . November 11, 2020 .
  7. News: Benjamin Forgey . The Inner Life Of A Mall . The Washington Post . December 9, 1989 . November 11, 2020 .
  8. Web site: Nextinline . Loews Pentagon City 6 . Cinema Treasures . November 11, 2020 .
  9. Web site: The Fashion Centre at Pentagon City Unveils Expansion and Renovation Project . Simon Property Group . April 16, 2014 . press release . November 11, 2020 .
  10. News: Patrick Hanafin . Madison Starr . The Mall at Pentagon City: Virginia's next great entertainment attraction? . WJLA-TV . June 25, 2015 .
  11. News: New Restaurants Opening Soon in Pentagon City Mall . WTOP-FM . WRC-TV . July 5, 2016 .
  12. News: Dan Taylor . 3 New Retailers Moving Into Pentagon City Mall . Arlington, VA, Patch . December 5, 2016 . November 11, 2020 .
  13. News: Douglas Fruehling . These major landowners near HQ2 are sitting pretty . Washington Business Journal . November 13, 2018 . November 11, 2020 .
  14. https://www.arlnow.com/2023/03/22/just-in-ikea-to-open-small-format-location-in-pentagon-city/
  15. Web site: ICSC - Fashion Centre at Pentagon City . ICSC . 2018. 15 May 2024.