The Grove-East, a.k.a. Americana at Brand, has received the go ahead from the courts, as the Glendale Galleria received a smackdown and now teeters on irrelevancy. General Growth Properties, owner of the Glendale Galleria, faces stiff competition from Rick Caruso's latest lifestyle mall development opening across the street.
"General Growth lost at trial and lost at appeal and now has dismissed its suit. It was clear to us from the beginning that this suit had no merit and would not stand," said Rick J. Caruso, founder and CEO, Caruso Affiliated. "We have been steadfast and determined in our fight against General Growth as it has attempted to stop fair competition." In November, the California Court of Appeals ruled against General Growth Properties in its latest attempt to halt real estate owner and developer Rick Caruso's Americana at Brand mixed-use project in Glendale. After defeat in Los Angeles Superior Court General Growth appealed the decision and challenged the project's financial agreements.
American at Brand is planned to cover nearly 16 acres, with a mix of shops, restaurants, and a central two-acre park. Unlike The Grove, Americana at Brand will also include residential units. Estimated cost: $264.2 million. We expect the Glendale Galleria to become a lovely parking lot in the not so distant future.
· Caruso Affiliated Wins Final Victory in Glendale as General Growth Concedes -- Americana at Brand Construction Speeds Forward [BusinessWire]