San Jose Lands Apple Flagship Store
The Westfield Valley Fair Mall will be the prized anchor location of a brand-new, double-decker Apple store, according to a recent Securities and Exchange Commission filing by Unibail-Rodamco-Westfield, the Parisian developer currently expanding and redeveloping the mall.
Located just six miles from the prized Apple headquarters in Cupertino, the new location will replace the existing Apple retail store in Westfield Valley Fair, giving it a luxury upgrade to a trendy destination “flagship” store, complete with “a spectacular façade facing the new outdoor dining precinct,” according to the SEC filing.
At a time when malls and traditional retailers across America are shuttering their brick-and-morter stores amidst high profile bankruptcies and store closings among retail giants, Westfield Valley Fair has been bucking the trend with a prime mix of sophisticated, upscale retailers and service-related retail, such as restaurants. The upsurge of service-related retail has been changing the face of flagging strip malls, traditional malls, and downtown retail destinations across the country.
Positioned just off I-880 on the border of San Jose and Santa Clara, in one of the wealthiest areas of the country, Westfield Valley Fair maintained 4% sales growth in 2018. This, while simultaneously undergoing a complete renovation of over 1.3 million square feet that was completed in October. The location in the heart of Silicon Valley targets shoppers and diners with plenty of disposable income.
While details on the new flagship store are being closely held by Apple and the developers, it’s safe to assume that the new location within Westfield Valley Fair will follow the lead of the other flagship stores in New York, Paris, and Hong Kong, which exude trendy style in larger footprints and lots of glass. The project is expected wrap up in the second half of 2019.
Keystone Commercial Brokerage serves the needs of commercial real estate investors in the Santa Clara and San Mateo counties, specializing in commercial property, multi-unit residential, office space, and multi-use property. Paul Phangureh has over 16 years of experience in buying and selling in the Santa Clara and San Mateo County areas. Contact Paul at 650-924-2544, or email at [email protected]