Luxury outdoor mall Victoria Gardens sold for more than $500 million [Los Angeles Times (CA)]
Shake Shack, Inc. Class A (SHAK)
Last shake shack, inc. class a earnings: 2/24 04:05 pm
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Source: Los Angeles Times
The center, built in 2004 on former agricultural land at a cost of $285 million, is one of the largest regional malls in Southern California, with more than 30 buildings on 12 blocks, interspersed with parks, gardens and fountains. It also has a public library and cultural center. The new ownership is a venture led by Newport Beach real estate company Redwood West and Irvine developer Panattoni, in partnership with Prime Finance and Prism Places. Victoria Gardens gets nearly 15 million visitors annually and generates more than $1,100 per square foot in retail sales, placing it among top-grossing open-air shopping centers in the nation, Redwood West said. It has about 160 retailers including Apple, Lululemon, Chanel, Gorjana, Sephora, Nike, Zara, AMC Theatres, Shake Shack and Macy's. “We see tremendous opportunity with Victoria Gardens,” John Pomer, a managing partner at Redwood West, said in a statement. “It is a one-of-a-kind, highly productive asset with deep roots in the r
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