COMMERCIAL REAL ESTATE : Shop Until You Drop Is Still Possible as New Centers Sprout
Though the growth is not as frenzied as a few years back, the Orange County shopping paradise continues to blossom.
The Imperial Promenade Shopping Center in Anaheim has its grand opening Saturday, bringing in the old standbys of clowns, music, DJs and a Batmobile replica to mark the event. The 45,221-square-foot center is at Imperial Highway and La Palma Avenue.
Not too far away, Diversified Shopping Centers has started construction on the 94,600-square-foot Bryant Ranch Center in Yorba Linda. Ralphs supermarket is the major tenant in the $12.2-million project, at La Palma Avenue and Via Lomas De Yorba East.
At the other end of the county, QBM Development Corp. is building an 86,000-square-foot center in Lake Forest. The $17-million project, at Muirlands Boulevard and Lake Forest Drive, will have a Pep Boys, Staples and Blockbuster Video.
Some companies based here are setting their sights on projects outside the county. BLM Victorville, a Huntington Beach developer, has started construction on a 112,000-square-foot center in Victorville--that town on the way to Las Vegas. The anchor will be a Super 1 Foods store. BLM bought the 7.4-acre site for $2.2 million.
Finally, Santa Anita Realty Enterprises Inc., which just moved from Orange to Newport Beach, has launched a $35-million expansion of Santa Anita Fashion Park in Arcadia. The project will include a Nordstrom, 20 new shops and a food court.
