Westfield Will Be Having a Big (Multi-)Block Party

A computer rendering of the new Fulton Street Transit Center

The big shopping mall operator that acquired the World Trade Center retail rights it didn't already own earlier this month (QuidnuncRE report HERE) is now taking over another mall a block away on Broadway.

The Metropolitan Transportation Authority yesterday approved the Westfield Group as the operator of the new Fulton Street transportation hub.  The Australian-based company, which also announced earlier this month it will split itself up into separate Down Under and U.S./U.K. operations (see that QuidnuncRE link above), won a competitive RFP to get the retail leasing rights.

And the rights are not just for the flashy new, and long-delayed, glass and steel structure on the southeast corner of Fulton and Broadway.  It will also include: 

[T]he historic Corbin Building at the northeast corner of Broadway and John Street; the Dey Street Headhouse at the southwest corner of Broadway and Dey Street; and the corridor under Dey Street that will connect to the World Trade Center in the future. The master lease will encompass approximately 180,000 square feet of space, including approximately 63,000 square feet of commercial space (roughly one-third office and two-thirds retail), some 60,000 square feet of public circulation areas and 57,000 square feet of mechanical and other “back-of-house” space. 

The MTA has even more detail HERE--really, a roadmap of what the new neighborhood will look like. 

It adds that the "initial term of the Westfield lease will activate when the Fulton Building’s public circulation areas open, scheduled for June 2014."

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