Quote:
Originally Posted by TowerDistrict
we've spoke on the forum about how downtown should perhaps have it's
own council district. But this is a shiny example to me of why that's not
really true.
DTP is in Tretheway's district and so is Natomas. If you were him, would
you allow Westfield to expand into another area that directly competes
with the languishing Downtown Plaza?
I guess it all depends on whether or not Westfield tries to aquire land
inside the city limits. If they grab something outside city boundries and
in Sacramento County, they'll probably get to do whatever they want.
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I wonder what the DT Plaza would sell for these days? Back in 1999 when
Westfield bought the property as a package with the Eastland Center,
West Covina Mall they paid $127,348,000 for both of them, so now
I'm wondering what the market rate for the mall might be?
According to EDGAR Online
http://sec.edgar-online.com/2000/03/23/08/0001005477-00-002403/Section6.asp
the mall is:
Downtown Plaza, a regional mall encompassing 1,191,347 square feet
including 908,758 square feet of retail space and 282,805 square feet of
office, is located in the CBD of Sacramento, California. The retail
component of the complex was constructed in 1971 and the three office
buildings in 1972, 1976 and 1981, respectively. The retail mall was last
renovated in 1993. Anchors include Macy's and Macy's Men's and Furniture
in addition to 405,258 square feet of in-line space and 282,805 square
feet of office space.
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