Stoneridge Shopping Center

Stoneridge Shopping Center

Location	Pleasanton, California
Coordinates	37°41′43″N121°55′43″W / 37.695324°N 121.928678°W / 37.695324; -121.928678
Opening date	1980
Developer	A. Alfred Taubman
Management	Simon Property Group
Owner	Simon Property Group (49.9%) & GM Pension Trust
No. of stores and services	159
No. of anchor tenants	3
Total retail floor area	1,299,290 square feet (120,708 square meters) [1]
No. of floors	2 (3 in Macy's Women and former Nordstrom)
Public transit access	B   West Dublin/Pleasanton
Website	shopstoneridge.com

Stoneridge Shopping Center is an upscale major shopping mall in Pleasanton, California. The mall is managed and co-owned by Simon Property Group, and is adjacent to Interstate 680. The mall features JCPenney and Macy's and Macy's Women's Store.

History

The mall opened in 1980 and is part of the larger Stoneridge master planned neighborhood originally developed by Stoneson Development Corporation, whose founders also developed Lakeside Village and Stonestown Galleria in nearby San Francisco after World War II.

The mall itself was developed by A. Alfred Taubman, who also developed several other shopping malls in the Bay Area, including Eastridge Mall in San Jose, Hilltop Mall in Richmond and Sunvalley Mall in Concord. ^[2] The original anchor tenants were Macy's, Emporium-Capwell, and JCPenney. Nordstrom opened a store in 1990, the same year Emporium-Capwell dropped the double-barrelled name and became simply Emporium. Six years later, Emporium was acquired by the parent company of Macy's, which elected to keep both locations; the original Macy's store was used for their women's departments and their men's and home furnishings departments were relocated to the former Emporium store. 1996 also saw the construction and opening of a Sears store. ^[3]

Ownership of Stoneridge was to change in the next few years as the Taubman shopping center interests, which had become a publicly traded real estate investment trust in 1992, were reorganized in 1998 and the GM Pension Trust assumed full ownership of Stoneridge, retaining Taubman Centers as manager. In 2004 the GM Pension Trust sold a half interest in a portfolio of shopping centers, including Stoneridge, to The Mills Corporation, which also assumed management of the center. A joint venture led by Simon Property Group purchased The Mills Corp. in 2007, bringing Stoneridge under the Simon banner. ^[4]

Plans to renovate and expand the property were announced in 2005, calling for the construction of a new, smaller Nordstrom store and the addition of new shops, restaurants, and a cinema within the existing Nordstrom building's footprint. ^[5] The only portion of the plans to materialize were the addition of two restaurants outside the mall - The Cheesecake Factory ^[6] and P. F. Chang's China Bistro, both of which opened in 2006. ^[7]

The dawn of the early 2020s saw several storied traditional department store retailers update its brick-and-mortar formats after being encroached upon to a degree by several digital retailers in recent years in addition to the COVID pandemic.

On October 15, 2018, it was announced Sears would shutter as part of an ongoing decision to eliminate its traditional brick-and-mortar format. ^[8] The department store shuttered in January 2019, paving the way for a planned redevelopment. ^[9]

On May 7, 2020, Nordstrom, which also maintains several additional outposts in the region, announced plans to shutter along with several additional locations as a direct result of pulling back because of the COVID-19 pandemic.

Simon, the mall development firm, has been in the early stages of a future enhanced development which is to include both the previous Sears and Nordstrom outposts. ^{[10] [11]}

References

1. "Find A Nearby Center -OR- Change Your Current Center - Search By Center Name, City, State or ZIP Code | Simon". www.simon.com.
2. "Stoneridge sizzles (December 15, 2000)". www.pleasantonweekly.com.
3. "10-K". www.sec.gov. Retrieved 2019-08-08.
4. Spence, John. "Simon, Farallon team up to buy mall REIT". MarketWatch. Retrieved 2019-01-13.
5. "Nordstrom to Relocate at Stoneridge Shopping Center In Pleasanton, California". Nordstrom. Retrieved 2019-01-13.
6. "The Cheesecake Factory Opens in Pleasanton, California". www.businesswire.com. 2006-11-08. Retrieved 2019-01-13.
7. "Malls throughout East Bay court shoppers". East Bay Times. 2006-11-05. Retrieved 2019-01-13.
8. "Sears store closing list: 142 more Sears, Kmart locations closing in Chapter 11 bankruptcy". www.sec.gov. October 15, 2018. Retrieved 2019-08-08.
9. "404 - Store Closed". www.sears.com. Retrieved 2019-01-13.{{cite web}}: Cite uses generic title (help)
10. "Pleasanton: City approves plan to redesign old Sears side of Stoneridge Mall". May 2019.
11. "Pleasanton council approves major components of Stoneridge Mall redevelopment framework". 5 February 2023.

External links

• Official website