NEW YORK — At a time when few new malls are being built in the U.S., the Australian developer Westfield is reinvesting in existing properties in an effort to squeeze more profits from them.
A prime example is Westfield Garden State Plaza, located 12 miles northwest of Manhattan in Paramus, N.J., where a fashion district is under construction. A new parking deck for the addition was completed in November. The cost of the project is $160 million, said Bryan Gaus, senior general manager of Westfield Garden State Plaza.
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