lyle and scott polo Potomac Mills to expand retail

marco polo wiki Potomac Mills to expand retail

military helicoptersA Neiman Marcus Last Call Clearance Center would take up 34,000 square feet, representatives of the mall said yesterday. The rest would be taken up by about 20,000 square feet of retail space and 30,000 square feet of restaurant space when the expansion is completed in 2010.

The owners, Simon Property Group Inc., said they would redesign the mall main entrance as part of the multimillion dollar project.

is just the beginning of bigger and better things we have planned for the property, said Gregg Goodman, vice president of development for the Indianapolis firm.

At 1.6 million square feet, Potomac Mills is the Washington region second largest shopping mall after Tysons Corner Center. Its stores cover 128 acres.

Simon Property Group acquired the mall when it purchased the parent company, Mills Corp., for $1.64 billion in April 2007. Mills sold its nationwide chain of shopping malls after a $350 million accounting error pushed the company to the edge of bankruptcy.

The accounting error was discovered after a major renovation of Potomac Mills was completed in September 2005.

The renovation and expansion announced yesterday would stretch from the mall AMC movie theater to the Costco store.

Simon Property Group did not name the restaurants for the expanded area, but said it was negotiating lease agreements.

Stores already at Potomac Mills include Saks Fifth Avenue Outlet OFF 5TH, Nordstrom Rack, Off Broadway Shoe Warehouse and Polo Ralph Lauren Factory Store.
lyle and scott polo Potomac Mills to expand retail