| |
| | Leading mall firm to manage shopping center in $333 million lease agreement (Site not responding. Last check: 2007-10-28) |
 | | The agreement will give the Indianapolis-based real estate investment trust a 51-year lease on the shopping center, but Stanford, as required by its founding grant, will retain ownership of the land. |
 | | Phillips said the decision to sell the open-air mall, which was developed in phases by the university beginning in 1956, did not stem from the recent dip in the endowment, which has suffered as a result of the larger economic downturn. |
 | | The shopping center's roughly 140 stores, boutiques, restaurants and specialty-food vendors comprise mostly high-end tenants, including Bloomingdale's, Neiman Marcus, Nordstrom, Banana Republic, Brooks Brothers, Polo-Ralph Lauren, Oilily, Cartier and Tiffany and Co. About 8 million people visit the mall annually. |
| news-service.stanford.edu /news/2003/july9/shoppingcenter-79.html (384 words) |
|