**Macerich to Invest Over $100 Million in Redevelopment of Tysons Corner Center**
California-based shopping center owner Macerich has announced plans for a major redevelopment of Tysons Corner Center in McLean, Virginia. The company is preparing to invest more than $100 million into the project, which will include significant renovations throughout the iconic shopping mall.
According to a recent investor presentation and reported by the Washington Business Journal, the redevelopment will feature $66 million in retailer investments aimed at upgrading store interiors, along with an additional $45 million allocated for improvements to common areas.
A focal point of the project will be a transformation of the mall’s west end, currently anchored by Bloomingdale’s and Macy’s. Macerich plans to redesign this section into a dynamic, walkable retail and entertainment district, complete with upscale dining and a new luxury market.
With 1.8 million square feet of retail space, Tysons Corner Center is the largest shopping mall in the Greater Washington, D.C. region. “Tysons Corner Center has solidified its position as a retail powerhouse, and we continue to enhance the center,” the company said in its presentation.
