Department store chain Gottschalks Inc has reached an agreement to take over a Federated Macy's store lease in the Valley River Mall in Eugene, Oregon.
The store has two levels and is approximately 124,000 square feet. The company plans to obtain occupancy by mid-year and anticipates opening the store in early fall.
Jim Famalette, President and CEO of Gottschalks, said, "Since the Federated/May merger was announced, we have been active in the divested stores sale process. We are happy to have finalized the agreement on this store lease.”
“The Valley River Mall is the top shopping destination in the Eugene marketplace, and it further strengthens our presence in Oregon, where we will have four Gottschalks stores once this store opens in the Fall. We are also continuing to review other potential opportunities for store growth in California as part of our expansion plans," he added.
"Gottschalks is an excellent addition to our list of high quality retailers at Valley River Center," said Arthur Coppola, President and CEO of The Macerich Company, which owns and operates Valley River Center. "A long-standing brand with loyal customers and solid business operations, Gottschalks adds significant value to our property."
Gottschalks is a regional department store chain, currently operating 63 department stores and 6 specialty apparel stores in six western states, including California (39), Washington (10), Alaska (6), Oregon (3), Nevada (2) and Idaho (3). It offers better to moderate brand-name fashion apparel, cosmetics, shoes, accessories and home merchandise.
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