SouthBay Pavilion Set for Renovation
The SouthBay Pavilion in Carson, Calif., joins the list of aging shopping malls due for a date with a bulldozer. Newport Beach, Calif.–based Hopkins Real Estate Group paid $34 million to a private ownership group for the 30-year-old center, which is located near the intersection of Interstates 405 and 110.
Hopkins plans to invest up to $20 million to renovate the center and bring in additional tenants, said Laurence J. Weese, a partner in the firm.
“We want to improve the apparel offerings along with other areas,” he said.
The mall—which houses Sears, J.C. Penney and Ikea and a number of independent clothing and footwear retailers— has had its share of struggles over the years. The 937,000-square-foot center already went through a repositioning effort 10 years ago, when its owners re-branded the property formerly known as the Carson Mall.
The new owner said it is looking at additional tenants—including fitness clubs, restaurants and movie theaters—to attract more long-term leases. The mall is just north of Long Beach and about 10 miles south of downtown Los Angeles. The center competes in part with the 3 millionsquare- foot Del Amo Fashion Center in Torrance, Calif., which is about five miles west.
Hopkins is also converting the 900,000- square-foot enclosed Whittwood Mall in Whittier, Calif., into an outdoor shopping center. The company, in a joint venture with Lennar Partners, paid $49 million for the property, which is anchored by Sears, J.C. Penney and Mervyn’s. Plans call for the addition of a Target store and a residential element of 180 town homes.
Hopkins expects construction on the Carson project to take place soon in upcoming months.
