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Federal Realty Investment Trust

Construction on $80-million El Segundo shopping complex underway

Construction on $80-million El Segundo shopping complex underway

Work is underway on an $80-million shopping and dining complex in El Segundo that its owners hope will become a meeting place for South Bay families and workers.

The center, to be called the Point, is being built at the northeast corner of Sepulveda Boulevard and Rosecrans Avenue. It is being built by Federal Realty Investment Trust, which also owns the Plaza El Segundo shopping center next door.

The Point is intended to complement Plaza El Segundo, which houses large retailers such as Best Buy, Whole Foods Market and Dick's Sporting Goods. It also has some smaller stores and restaurants.

No tenants have been announced for the Point, but it is intended to have more...