the list ret ail centers

20 LOS ANGELES BUSINESS JOURNAL JUNE 25, 2012

executive summary

THE LIST ReTaIL CenTeRSIn Los Angeles County; ranked by gross leasable area

The 25 largest retail centers in Los Angeles County have more than 28.4 million square feet of

gross leasable area. There are 15 retail centers with at least 1 million square feet of space in the county.

Westfield Group, a Sydney, Aus-tralia, mall owner and operator, domi-nates the list with seven retail centers. The company’s largest local mall is Westfield Topanga, which has 1.6 mil-lion square feet of space.

Westfield sold its interest in the eastland Center in West Covina to Phoenix-based Cole Real estate last month. The 806,000-square-foot prop-erty was sold for $147 million. Origi-nally built in 1957, the property is fully leased.

Westfield announced in April announced that it would sell eight shopping centers in the United States for $1.1 billion, including eastland Center. Proceeds from the transactions will help pay down corporate debt and then be applied to higher-return rede-velopment opportunities in the United States, including the World Trade Center.

Overall, the 25 largest retail centers in the county have more than 3,800 stores and 133,000 parking spaces.

– David Nusbaum

nexT weekThe 50 Largest Office Leases in Los Angeles County

The largest retail center in Los Angeles County is Del Amo Fash-ion Center at 2.3 million square feet. The Torrance mall, owned by Simon Property Group Inc., has a 91 percent occupancy rate

according to the company’s latest annual report filed with the Securities exchange Commission.

Indianapolis-based Simon increased its ownership stake to 50 percent during the first quarter of 2012. It also announced plans to make $200 million in renovations that will include a first phase at the north end of the mall with a new food pavilion as many as three additional anchor ten-ants. Under a second phase, the south end of the mall could be converted to an outdoor design through removing the roof.

The renovations are expected to begin in 2013. It will be the second major renovation for the mall in the past decade. In 2006, prior owner Mills Corp. invested $300 million to add an outdoor lifestyle wing that includes a movie theater, restaurant and stores.

The current mall’s anchors include Macy’s, JC Penney, Sears, Mar-shalls, T.J. Maxx and Burlington Coat Factory. The total stores number more than 200.

Simon owns or has an interest in 338 retail properties in North Amer-ica and Asia with about 245 million square feet. The company employs about 5,500 people in the United States.

– David Nusbaum

the pacesetter the trends

0

2,000

4,000

6,000

8,000

10,000

12,000

-200

-100

0

100

200

300

400

500

600

6,109

3,503

2,027

1,959

1,647

Source: Jones Lang LaSalle

Location DollarsThird quarter average asking rents by submarket for Class A office property.

Westside

Downtown

Hollywood

Tri-Cities

Santa Clarita Valley

South Bay

San Fernando Valley

San Gabriel Valley

Wilshire Corridor

$0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0

(in thousands)

Space FillersVacancy rates for office properties by market segment.

Hollywood

Tri-Cities

Santa Clarita Valley

South Bay

Wilshire Corridor

San Fernando Valley

Westside

Downtown

San Gabriel Valley

0 5 10 15 20 25 30

Consumer Economy Annual U.S. retail sales are climbing.

Source: U.S Department of Commerce

0

1

2

3

4

$5

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Pocket Money Per-capita disposable income in California is increasing.

20

26

32

38

44

$50

Construction ZoneThe number of new homes and condos sold in L.A. County.

Source: Hanley Wood LLC

0

2,000

4,000

6,000

8,000

10,000

12,000

2001 2002 2003 2004 2005 2006 2007 2008 2009

Price PointsThe number of new homes sold in L.A. County during 2009 by price.

(in thousands)

0

300

600

900

1,200

1,500

0-$300 300-400 400-500 500-600 600-700 700-1000 1000+

(in trillions)

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

(in thousands)

Rank Retail Center¥ name

¥ address

Size¥ gross leasable area

(square feet)

¥ number of stores

Demographic¥ average household

income

(five mile radius)

Anchors Profile¥ year opened

¥ parking spaces

Contacts¥ general manager

¥ website

Owner/Developer¥ name

¥ headquarters

¥ phone

1Del Amo Fashion Center3 Del Amo Fashion CenterTorrance 90503

2,276,842212

$95,973 Burlington Coat Factory, JCPenney,Macy's, Marshalls, Sears, T.J. Maxx, AMCTheatre

197512,500

NAdelamofashioncenter.com

Simon Property GroupIndianapolis(317) 636-1600

2Lakewood Center500 Lakewood Center MallLakewood 90712

2,042,295270

67,641 Macy's, Target, Forever 21, Costco,JCPenney

19519,814

Doug Roscoeshoplakewoodcenter.com

Macerich Co.Santa Monica(310) 394-6000

3Westfield Topanga6600 Topanga Canyon Blvd.Canoga Park 91303

1,637,596278

90,360 Macy's, Nordstrom, Target, NiemanMarcus, Sears

19646,113

Chuck Martinezwestfield.com

Westfield LLCLos Angeles(310) 478-4456

4Northridge Fashion Center9301 Tampa Ave.Northridge 91324

1,510,884170

80,201 JCPenney, Macy's, Pacific Theaters, Sears 19717,000

Daniyel Gordonnorthridgefashion.com

General Growth Properties Inc.Chicago(312) 960-5000

5Glendale Galleria2148 Glendale GalleriaGlendale 91210

1,463,221250

68,965 JCPenney, Macy's, Nordstrom, Target 19766,200

Larry Martinglendalegalleria.com


6Westfield Santa Anita400 S. Baldwin Ave., Suite 321Arcadia 91007

1,311,264245

82,653 JCPenney, Macy's, Nordstrom, AMCTheatres

19746,800

David Burkewestfield.com


7Burbank Town Center201 E. Magnolia Blvd., Suite 151Burbank 91501

1,240,000140

74,989 Ikea, Macy's, Sears, Bed Bath & Beyond 19915,714

Mike Keurjianburbanktowncenter.com

Crown Realty & Development Inc.Irvine(949) 476-2200

8Los Cerritos Center239 Los Cerritos CenterCerritos 90703

1,143,613208

74,129 Macy's, Nordstrom, Sears, Forever 21 19716,708

Andy Cookshoploscerritos.com


9Westfield West Covina112 Plaza DriveWest Covina 91790

1,137,277206

68,953 JCPenney, Macy's, Sears 19756,041

Ramon Oseguerawestfield.com


10Puente Hills Mall1600 S. Azusa Ave., Suite 231City of Industry 91748

1,099,299140

82,891 AMC Theatres, Burlington Coat Factory,Macy's, Sears, Forever 21, Toys 'R' Us/Babies 'R' Us

19746,539

Ken Masonpuentehills-mall.com

Glimcher Realty TrustColumbus, Ohio(614) 621-9000

11Westfield Valencia Town Center24201 W. Valencia Blvd.Valencia 91355

1,065,583213

102,980 JCPenney, Macy's, Sears, EdwardsTheatres

19923,800

Raj Chandaniwestfield.com


12Westfield Culver City6000 Sepulveda Blvd.Culver City 90230

1,062,120171

77,453 JCPenney, Macy's, Target, Best Buy, H&M 19754,452

Don Zisswestfield.com


13South Bay Pavilion20700 Avalon Blvd.Carson 90746

1,017,04781

63,208 Ikea, JCPenney, Sears, Target 19734,881

Julie Cruzsouthbaypavilion.com

Vintage Real EstateLos Angeles310-979-9090

Notes: Information for this list provided by the Directory of Major Malls, with additional information obtained fromrepresentatives of the owners/developers. Retail centers are ranked by total gross leasable square footage.To the best of our knowledge, this information is accurate as of press time. While every effort is made to ensure theaccuracy and thoroughness of the list, omissions and typographical errors sometimes occur. Please send

corrections or additions on company letterhead to the Research Department, Los Angeles Business Journal, 5700Wilshire Blvd., Suite 170, Los Angeles 90036. ©2012 Los Angeles Business Journal. This list may not be reprintedin whole or in part without prior written permission from the editor. Reprints are available from the YGS Group,(800) 290-5460 ext. 100.

Researched by David Nusbaum

Largest Mall: Del Amo Fashion Center.

June 25, 2012 The LisT LOS AnGeLeS BuSIneSS JOuRnAL 21

Rank Retail Center¥ name

¥ address

Size¥ gross leasable area

(square feet)

¥ number of stores

Demographic¥ average household

income

(five mile radius)

Anchors Profile¥ year opened

¥ parking spaces

Contacts¥ general manager

¥ website

Owner/Developer¥ name

¥ headquarters

¥ phone

14Antelope Valley Mall1233 Rancho Vista Blvd.Palmdale 93551

1,001,000140

$69,624 Dillard's, Macy's, JCPenney, Sears,Forever 21

19905,500

NAav-mall.com

Forest City DevelopmentCleveland(216) 621-6060

15Long Beach Towne Center7575 Carson Blvd.Long Beach 90808

1,000,00080

61,221 Wal-Mart, Lowe's, Sam's Club 19984,400

NAlongbeachtownecenter.net

Vestar Development Co.Phoenix(602) 866-0900

16South Bay Galleria1815 Hawthorne Blvd.Redondo Beach 90278

959,247140

86,109 Nordstrom, Macy's, Kohl's 19855,500

Keith Geigersouthbaygalleria.com

Forest City Enterprises Inc.Cleveland(216) 621-6060

17Stonewood Center251 Stonewood St.Downey 90241

931,000165

59,539 JCPenney, Macy's, Sears, Kohl's 19584,663

NAshopstonewoodcenter.com


18Beverly Center8500 Beverly Blvd.Los Angeles 90048

884,000160

81,599 Bloomingdale's, Macy's 19823,000

Jeff Brownbeverlycenter.com

Taubman Co.Bloomfield Hills, Mich.(248) 258-6800

19Westfield Century City10250 Santa Monica Blvd.Los Angeles 90067

879,872153

100,532 Bloomingdale's, Macy's, Gelson's, AMCTheatres

19642,491

Phillip St. Pierrewestfield.com


20Fallbrook Center6633 Fallbrook Ave.West Hills 91307

856,38742

99,810 Kohl's, Sport Chalet, Target, Michael's,Laemmle Theatres

19665,300

Daniyel Gordongeneralgrowth.com


21Westfield Fashion Square14006 Riverside DriveSherman Oaks 91423

855,731143

87,048 Bloomingdale's, Macy's 19613,914

Molly Ungerwestfield.com


22Baldwin Hills Crenshaw Plaza3650 W. Martin Luther King Blvd.Los Angeles 90008

846,303143

57,192 Macy's, Sears, T.J. Maxx, Wal-Mart 19883,600

NAbaldwinhillscrenshawplaza.com

Primestor Development Inc.Beverly Hills(310) 652-1177

23Eastland Center112 Plaza DriveWest Covina 91790

806,33141

75,720 Target, Old Navy, Albertson's 19573,734

NAwestfield.com

Cole Real EstatePhoenix866-341-2653

24Plaza at Puente Hills17835-18271 Gale Ave.City of Industry 91748

781,22239

85,082 Home Depot, Office Depot, Sam's Club,Smart & Final, Toys R Us

19871,432

NAsciproperties.com

SCI PropertiesLos Angeles(310) 470-2600

25Shops at Montebello2134 Montebello Town Center DriveMontebello 90640

758,504160

NA Macy's, JCPenney, Forever 21 1985NA

NAshopsatmontebello.com

Simon Property GroupIndianapolis(317) 636-1600

Notes: Information for this list provided by the Directory of Major Malls, with additional information obtained fromrepresentatives of the owners/developers. Retail centers are ranked by total gross leasable square footage.To the best of our knowledge, this information is accurate as of press time. While every effort is made to ensure theaccuracy and thoroughness of the list, omissions and typographical errors sometimes occur. Please send

corrections or additions on company letterhead to the Research Department, Los Angeles Business Journal, 5700Wilshire Blvd., Suite 170, Los Angeles 90036. ©2012 Los Angeles Business Journal. This list may not be reprintedin whole or in part without prior written permission from the editor. Reprints are available from the YGS Group,(800) 290-5460 ext. 100.

Researched by David Nusbaum

Glendale Adventist Medical Center

GlendaleAdventist.comWhere the 2 & 134 freeways meet

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