Lakewood, Calif. — A joint venture between Pacific Retail Capital Partners, Lyon Living and Silverpeak has acquired Lakewood Center, a 2 million-square-foot super-regional shopping center located about 23 miles southeast of Los Angeles. The joint venture plans to redevelop the property to feature elevated retail and dining options, integrated residential living opportunities, wellness amenities, green spaces and entertainment offerings. The timeline and additional design elements will be disclosed as the project progresses.
Lakewood Center originally opened in 1952 and spans nearly 150 acres. According to Wikipedia, the center is ranked among the largest shopping malls by gross leasable area (GLA) in the United States. Costco, Target, Macy’s and Best Buy anchor the center. Other tenants include Burlington, H&M, Foot Locker, Hollister, Stonefire Grill, California Pizza Kitchen and Starlight Cinema.