Check out the high-end tenants in talks for Tysons Galleria Macy’s

Rebecca Cooper - Washington Business Journal Around Town, Tysons Update

Via Washington Business Journal

By Rebecca Cooper

We told you Monday about the movement on the redevelopment of the Macy’s at Tysons Galleria, and now we’re getting more details on what owner Brookfield Properties Retail — formerly General Growth Properties — has in store for the site.

The owner is in advanced talks with Tiffany & Co. (NYSE: TIF), Apple Inc. (NASDAQ: AAPL) and gourmet grocer Balducci’s, in addition to high-end movie theater chain iPic, to open in portions of the space, according to two sources with knowledge of the discussions.

It wasn’t immediately clear whether Tiffany and Apple relocate from existing stores in Tysons to the Galleria, though one source believes that is the case. Tiffany has been located at 8045 Leesburg Pike in Tysons since 1990; Apple has a store in neighboring mall Tysons Corner Center.

Former Galleria owner GGP bought the Macy’s property, which includes 2.6 acres and a 260,000-square-foot building, from the department store company in late 2016, touting plans to redevelop the site. Since then, it asked Fairfax County if it would be feasible to put a theater there.

The current vision for the Macy’s would put the iPic theater on level three of the mall, and Balducci’s on Macy’s basement level with its own exterior entrance. Apple and Tiffany would be located on level one of the mall, with entryways to the exterior.

The owner is also looking to place several other tenants on the second level, which will feel more like an extension of the interior mall. The company is in talks with retailers as well as high-end fitness concepts, according to one source.

Plans also include a movie theater with at least eight screens, a theater restaurant and outdoor dining for the iPic, according to a Fairfax County staff report on the site plan submitted for the site.

It’s the latest attempt to bring in more traffic to the luxury mall property. GGP made a significant investment in mall in 2017 to bring in Isabella Eatery, the 40,000-square-foot food hall from now-disgraced celebrity chef Mike Isabella. That venue closed in August and was recently replaced by A Taste of UrbanSpace, a new food hall with local chef-driven eateries.

The Macy’s (NYSE: M) is still open and operating at the galleria although the company has said the store will close soon. The new tenants would not be expected to open in the space until 2020.

We’ve reached out to Brookfield, Apple, Tiffany & Co., Balducci’s and iPic and will update this story if we hear back.