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Stock impact report

Notorious dead mall in Westminster is on track for redevelopment [Los Angeles Times (CA)]

Macy's Inc (M) 
Last macy's inc earnings: 2/25 06:55 am Check Earnings Report
US:NYSE Investor Relations: macysinc.com/ir
It will be replaced with housing, a hotel and some shops and stores, part of a nationwide trend that is seeing outdated, failed malls in high-traffic locations swapped for mixed-use development that typically includes apartments. The process is often lengthy, leaving empty malls in danger of abuse In recent weeks, videos have circulated on social media showing rampant paint tagging and destruction inside the structure that was a cultural touchstone in the Orange County city of Westminster for decades after it opened in 1974. In its heyday, the mall was a gathering spot when there were few other places to hang out. It was where kids found the latest fashions and where “mall rats” roamed in packs after school. The owner, Irvine-based Shopoff Realty Investments, has formally finished acquiring the property visible from the 405 Freeway and announced last week that demolition of the massive indoor mall would begin by April. Target will continue to operate during this time, the owner Show less Read more
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