Westfield Corp. and Forest City Realty Trust Inc. are proposing a $75 million renovation of the Westfield San Francisco Centre, the largest shopping center in San Francisco, the San Francisco Business Times reported.

The mall landlords are looking to renovate tenant spaces and add a new facade and three new outdoor terraces to the 865 Market St. part of the property, according to the May 16 report.

The report noted that the companies also plan to convert existing retail, storage and meeting space into 49,999 square feet of office space on the property's seventh and eighth floors. The building has 33,000 square feet of dedicated office space.

The renovation proposal is subject to approval from the City Planning Commission.

Westfield and Forest City combined and renovated 865 Market St. and the adjacent 1896 Emporium building for $440 million in 2006 to form a complex totaling 1.5 million square feet, the report noted.