In this article we will explore the fascinating world of Stanford Shopping Center, a topic that has captured the attention of people of all ages and places. From its impact on society to its influence on academia, Stanford Shopping Center has sparked great interest and curiosity in all types of individuals. Throughout these pages, we will analyze different aspects of Stanford Shopping Center, from its origins to its evolution today. Get ready to embark on an exciting journey through Stanford Shopping Center and discover everything this theme has to offer!
In 1954, excavators broke ground on what was once Leland Stanford's vineyards. Nine buildings housing 45 businesses were built. The Roos Brothers clothing store opened as the first retailer in September 1955 and Blum's restaurant opened on October 22, 1956, marking the completion of the center. Board of trustees Chair Lloyd Dinkelspiel and university President J. E. Wallace Sterling presided at the opening and Shirley Temple Black cut the first slice of a nine-tiered cake. San Francisco department store The Emporium and luxury specialty department store I. Magnin & Co. were the original anchors.
The center opened with great success and became one of the largest sources of unrestricted income for the university.
A department store shuffle occurred in the mid-1990s:
Saks Fifth Avenue closed in 1994.
I. Magnin was rebranded as a Macy's Men's store in 1995.
The Emporium store was shuttered and rebranded as Bloomingdale's in November 1996.
In 1997, the vacant Saks Fifth Avenue building was split into two tenants: Crate & Barrel and an Andronico's gourmet market. Andronico's closed in 2011, and was replaced by The Container Store in 2013.
On March 18, 2020, Stanford was among 7 Bay-area malls owned by the Simon Property Group which closed until March 29, 2020 due to the COVID-19 pandemic.
Later years
Throughout the years, the center has continued to evolve in terms of both tenants and construction and was managed by the university through its investment affiliate Stanford Management Company since 1991. However, in 2003, taking advantage of the high prices that shopping centers were fetching, the university's board of trustees agreed to sell the center for $333 million to Simon Property Group which, in turn, leases the underlying land from the university under a 51-year lease. The university's lease includes an annual rent equal to 25% percent of the center's net profits.
In 2012, Bloomingdale's announced plans to move into a new three-level 120,000 square foot store, vacating its existing building. The new Bloomingdale's opened in 2014, and the original building was demolished to make way for a new wing of retailers. That new wing, anchored by a multi-level Anthropologie store and a True Food Kitchen restaurant, opened in mid-2016.
In early 2019, Simon Property Group submitted plans to the city of Palo Alto to tear down the former Macy's Men's building and replace it with a 40,000 square-foot, three-level RH gallery with a rooftop restaurant, a duo of smaller restaurant buildings, and a new, larger 29,000 square-foot Wilkes Bashford store. The project was approved in late 2019, with demolition commencing in 2021 and continuing into 2021.[clarification needed][citation needed]