Opened in 1968, it is owned and managed by Regency Centers and is anchored by Macy's, Dick's Sporting Goods, and Target.

[1][2] Besides the anchor tenants, the 56 stores at Serramonte when it opened in 1968 included B. Dalton, Hickory Farms, Kinney Shoes, Longs Drugs, and QFI.

[5] The 860,000-square-foot (80,000 m2) center underwent an expansion starting in the mid-2010s that added approximately 200,000 square feet (19,000 m2) of retail space, some in a new satellite building, and a multistory parking structure.

[1][5] It was renovated in 2004 according to feng shui principles with the addition of a koi pond in the central grand court.

[6] Another interior renovation took place in 2021, a 142-room hotel was added adjacent to the mall, and a medical office is also planned.