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Rick Caruso speaks out

March 17, 2011

This is great time for the city of Glendale. On Wednesday, our company, Caruso Affiliated, announced the expansion of the Americana at Brand to include a brand new Nordstrom store (“Nordstrom will move to Americana,” March 17). At the same time, we purchased the space in the Galleria II wing of the Glendale Galleria that is currently occupied by Nordstrom.

Caruso Affiliated has made a significant investment in Glendale with the development of the Americana at Brand, which has already generated more than $3 million in new sales tax revenue for the city. Our expansion will mean more sales tax revenue for Glendale to pay for critical city services like police, fire, parks and libraries.

This announcement is also an opportunity for us, as the owner of significant space within the center, to help revitalize the Galleria. In cooperation with General Growth Properties, we will work to reposition the Galleria II wing of the property as Nordstrom moves into its new store.

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We are confident that prior to the opening of the new Nordstrom, we will be successful in identifying an exciting and contemporary tenant for its current location, one that will produce significant sales revenue and contribute to the improved productivity of the Galleria.

The city of Glendale will be in a stronger financial position because of this move and can chart an even brighter future with the addition of the new Nordstrom. We will work collectively to reposition the Galleria in a way that will benefit all of downtown.

Rick Caruso

Los Angeles

Editor’s note: Caruso is the owner-developer of the Americana at Brand.

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