DEVELOPMENT NEWS

Mt. Shasta Mall Announces the Acquisition of Sears Anchor Box
 
 – Will Repurpose Space to House Multiple High Volume Retailers Including First-to-Market Brands Sprouts Farmers Market and HomeGoods –
 
– Also Includes Plans to Develop 11,000 Square Feet of Outparcel Space that will be Dedicated to New-to-Market Leading Restaurants –
 
REDDING, Calif. – February 26, 2018 – Mt. Shasta Mall today announced that it has proactively acquired one of the most desired retail spaces in the Redding, Calif., market – the 99,000 square foot Sears anchor box located on the West end of the property. The mall plans to repurpose the space to accommodate a number of new-to-market high volume brands, including Sprouts Farmers Market (“Sprouts”) and HomeGoods. In unison with the repurposing of the Sears space, the mall is also planning to develop 11,000 square feet of outparcel space at the South-West corner of the property to further bolster its dining mix.
 
“We are excited to recapture this highly visible anchor box and are looking forward to the significant value we believe will result from our repurposing efforts,” said Doug Pattison, General Manager of Mt. Shasta Mall. “Sprouts and HomeGoods are category-leading brands without existing footprints in Redding, so we anticipate their presence will attract customers from beyond the mall’s current trade area, which will benefit all of our retailers.”
 
The mall has filed its site plan with the City of Redding and is currently working with officials on a proposed timeline to complete its repurposing and development efforts. The mall is optimistic that construction will begin later this year, with Sprouts and HomeGoods opening in the second quarter of 2019. Mall officials are currently in lease negotiations with a mix of prominent national retailers, restaurants and lifestyle brands, and popular local favorites, and will share additional leasing announcements over the coming months. 
 
“The site plan we have submitted to the City has been carefully and thoughtfully designed to ensure the relevancy of Mt. Shasta Mall well into the future,” Mr. Pattison added. “We look forward to working with the community throughout this process and to creating the preeminent shopping destination in the market.”
 
About Mt. Shasta Mall
Mt. Shasta Mall is the dominant shopping destination in far Northern California. The 521,000 square foot center is anchored by Macy’s and J. C. Penneys, and features over 60 specialty stores and restaurants, such as Victoria’s Secret, Bath & Body Works, The Buckle, Footlocker, American Eagle, Zumiez, Journey’s, The Children’s Place and Old Navy. The mall was built in 1975 and was expanded in 2001 to accommodate the only Macy’s within 150 miles and strong demand for additional small shop GLA.