Serramonte Center was built in 1969 and was renovated in 1995 and 2004. Montgomery Ward was an original anchor. After that chain's closure in 2001, Target replaced it. In 2002, the mall was sold to Capital and Counties USA.
A renovation completed in 2004 has given the main building a Zen feel. It included a koi pond, bamboo landscapes, and plush furniture. Other renovation include the remodeling of the food court seating area, and the addition of more, food court options. On March 5, 2011 JCPenney opened up in the former Mervyn's location on the east side of the mall.