Shopping Centers : Commerce Revitalization Project Gets Under Way
Construction has begun on Washington Square, a $4-million, 30,000-square-foot shopping center on the northeast corner of Atlantic and Washington boulevards in the City of Commerce, the site of the former Scavo’s Restaurant. The two-story facility is part of the city’s Atlantic-Washington Revitalization Project.
Washington Square’s developer is Regency Western Developers of Los Angeles, which is also the general contractor and is handling leasing. The architect is Mayer Lasley & Wilkinson of Irvine. Completion is scheduled for November.
The city in assembling a 2.5-acre site for development just south of Washington Square and along Atlantic Boulevard, is implementing its Commercial Revitalization Program of rebates, grants and low-interest loans to eligible property owners to encourage renovation and remodeling.
Construction is under way on Village Square Shops, a $2.25-million, 15,000-square-foot, two-story specialty retail complex at the intersection of Holt and Garey avenues in Covina, directly across from the new 263-room Granada Royale Hometel and at the main entry to the 450,000-square-foot Village Oaks Office Park. It is the only retail facility serving those developments.
Tenant occupancy is scheduled for July. The architect is McClellan Cruz Gaylord & Associates, the developer is Holt Avenue Partnership and the general contractor is A. J. Padelford & Sons, Artesia. The construction lender is Lloyds Bank California and the leasing agent is Gibbons Corp., Covina.
New Retail Center
Completion is scheduled this summer on the $2.5-million, 18,500-square-foot Mission Gorge Center on 2.8 acres on Mission Gorge Road just east of Zion Avenue in San Diego. The developer is Frankfurt Group USA, a California partnership with Gerald W. Bostick and Wilderick Fuchs as general partners; the architect is John Potocki & Associates and Grubb & Ellis is the leasing agent.
Two Centers Purchased
MaceRich Co., Santa Monica, and Northwestern Mutual Life Insurance Co. have purchased two Northern California shopping centers from Unicorp American Corp. in a transaction valued at $53 million. They are the 715,000-square-foot Broadway Shopping Center in Walnut Creek and the 640,000-square-foot Country Club Centre in Arden-Arcade, a Sacramento suburb. MaceRich will lease and manage both.
A $400,000 renovation and construction project is planned for the Mayfair/Arden Center on the northwest corner of Yosemite Drive and Eagle Rock Boulevard, Eagle Rock. G B W Properties is coordinating the renovation and will build two structures to increase the center’s size from 63,000 to 67,500 square feet. Bell, Evans & Yamamoto of San Diego is the architect and Sun Cal of Tarzana is the general contractor. Completion is scheduled later this year.