Real estate operators to create a state-of-the-art Premium Outlet center in Carson in LA County.
Macerich and Simon will co-develop and jointly lease LA's newest outlet, created to open with 400,000 square feet, followed by an additional 166,000 square feet in its second phase. Los Angeles Premium Outlets will be placed in Carson in LA County and take advantage of its positioning west of the I-5 corridor and south of the I-10 Freeway. Site work for the uniquely located, elevated shopping destination with parking below is expected to start immediately, with an opening scheduled for fall 2021.
Destined to attract the most affluent local residents and international tourists, Los Angeles Premium Outlets will have 2,500 linear feet of frontage on the high-traffic I-405 Freeway, with 300,000 cars passing each day. Additionally, 215,000 cars pass the site daily on the I-110 Freeway. The high-profile scheme will also benefit from the region's high density of 2.5 million residents within 10 miles and its location just 11 miles from LAX, the nation's second-busiest airport serving 81 million passengers yearly. In addition, Los Angeles Premium Outlets will be just a short drive from City of Champions Stadium, the future home of the Rams, Chargers, and world-class entertainment opportunities.
Said Ed Coppola, President of Macerich, and David Simon, CEO, and Chairman of Simon declared: "We are very pleased to partner in the development of this one-of-a-kind outlet project on great, well-positioned real estate to serve one of the nation's most attractive markets. We look forward to creating the ultimate outlet destination of choice for both local residents and international visitors to Los Angeles."
11 SEPTEMBER 2018, USA