La Habra Center May Get Face Lift
If Hughes Investments gets its way, La Habra shoppers may soon see the aging Fashion Square retail center there transformed into a new promotional center--minus, however, the upscale Bullock’s and Buffums department stores.
According to several industry sources, Hughes is “the lead interested party”--and the latest in a small parade of developers interested in lifting 19-year-old La Habra Fashion Square from its current rank of 54th of 61 Southern California shopping centers, according to 1986 sales figures released this year by the state Board of Equalization.
The 40-acre retail center at the corner of Imperial Highway and Beach Boulevard is anchored by the Buffums and Bullock’s department stores.
Officials at Newport Beach-based Hughes could not be reached for comment Wednesday.
But according to several outside sources, the developer is negotiating to buy the 14.4-acre center from its three owners--Buffums, Bullock’s and Buena Park-based City Freeholds, USA--for a reported price of $25 million to $30 million.
Hughes is said to be in deep negotiations with Bullock’s and Buffums over price and when the anchors would move.
Buffums officials could not be reached for comment. But the chain is reportedly willing to leave the La Habra mall by March.
Bullock’s officials wouldn’t comment. The chain, according to sources, is close to signing a contract to establish a new store at the Brea Mall and reportedly wants to close its La Habra site.
BREA MALL AT A GLANCE The regional enclosing shopping mall opened in 1977 at the intersection of State College Boulevard and Imperial Highway in Brea. It had 1986 sales of $178 million, ranking it third among Orange County malls. It disclosed details of a $120 million expansion Wednesday that will include a new JW Robinson’s department store and the expected addition of a Bullock’s store. Shopping center officials expect the expanded mall to have annual sales of $400 million by 1992.
Current Projected Square footage 909,000 1,400,000 Total stores 144 221 Anchor stores 4 6 Parking spaces 5,000 9,000
