BEVERLY HILLS : Planet Hollywood, Nike Megastore to Take Over Plaza Site

Planet Hollywood and Nike Inc. will become Beverly Hills neighbors, according to plans by the movie-themed restaurant and the sports retailer to open adjacent businesses on Wilshire Boulevard.

The Wilshire Rodeo Plaza site at 9560 Wilshire Blvd. is the former location of Gump’s department store and the onetime West Coast headquarters of Drexel Burnham Lambert.

Nike announced Wednesday it signed a lease for a 28,000-square-foot megastore. Called Nike Town, the store is scheduled to open next year, company officials said.

The Planet Hollywood chain, known for its movie memorabilia and celebrity owners, is scheduled to open this summer. The two-story, 18,000-square-foot restaurant will also serve as the company’s West Coast headquarters.

Renovation of the plaza to accommodate the new tenants includes no plans for expansion.

The Planet Hollywood chain is partly owned by actors Arnold Schwarzenegger, Sylvester Stallone and Bruce Willis.