Lakewood Redevelopment Vision Book

Page 1

T H E

F U T U R E

O F

L A K E WO O D CENTER

1


EVOLVING REVIVING

&

Successfully redeveloping and repositioning high-performing retail properties in outstanding markets to deliver even more value is a proven Macerich strength. We focus on making the most of our properties with exciting new uses, top-quality design and just-right amenities that build on powerful, longstanding community connections. Lakewood Center has been integral to the unique community of Lakewood since the 1950’s. The once shining centerpiece that served as the de facto downtown has lost its luster. BUT WE’RE GOING BACK TO OUR ROOTS. THE TIME IS NOW AT LAKEWOOD CENTER TO EVOLVE AND ELEVATE INTO A VIBRANT, MIXED-USE DESTINATION. A SMART REVITALIZATION OF THIS EXCEPTIONAL REAL ESTATE.

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3


A NEW CHAPTER IN AN ADAPTIVE STORY Attractive for its affordability, welcoming attitudes, and proximity to the best of life in Southern California, the city of Lakewood is part of an ever-changing suburban Los Angeles. Lakewood’s story is about diversification, growth, and a closeknit, family-oriented community that is proud of where they live. Now a diverse mix of aspirational trendsetters and artsy hipsters, these residents are ready for a new go-to destination. AND LAKEWOOD CENTER IS POISED FOR CHANGE TO MEET THESE DEMANDS OF ITS THRIVING COMMUNITY AND THE 21 MILLION VISITORS THAT CURRENTLY VISIT EACH YEAR.

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5


6


SMALL TOWN CHARM IN SUBURBAN LA Lakewood Center reflects the community it serves – diverse, creative, and optimistic Unparalleled offerings with 11 major anchors and big-box retail

A high-volume restaurant mix with 30+ dining options

Highly accessible to Long Beach bike path Three nearby airports LAX, SNA, and LGB servicing 77 million passengers Over 10 colleges, universities, and technical schools within 15 miles

7


Inglewood 90305

90301

90304

SURPASSING MAJOR MARKETS

9 90047 90044

11

Westmo

Lennox 90303

West At

Hawthorne

10

9

90250 90249

Lawndale 90266

Alondra Park 90260

Lakewood Center currently has 1.4 million people within the trade

90247

Gardena

90506

area - a density of 9,088 people per square mile. This suburban density surpasses major MSA’s, including Oklahoma City, Raleigh, and Memphis, which cover a substantially larger geography with density that does not go over 660 people per square mile.

90254

<1%

1%

2%

3%

90248

rmosa Beach

405

90503 Torrance

LAKEWOOD PENETRATION 0%

90504

90278

4%

5%

6%

7%

90501

90277

90502 110

We

INCOME >$120K

TOTAL TRADE AREA

Palos Verdes Estates

90505

Rolling Hills Estates

Lomita

90717

90274

Rolling Hills

8

Rancho Palos Verdes 90275

90710


Walnut Park South Gate

90003

Cudahy

90240

10 90002

ont

90280

Willowbrook 90262

90061

605

90603 90604

90242 19

10

La Habra Heights

90605

Downey

Lynwood

90059

thens

90241

710

Santa Fe Springs

Norwalk

La Mirada

90222

West Compton

Compton

90650

East Compton

90638

90723

90221

90670

90706

a

Paramount

90220

Bellflower 90701

90805

90747 90746

90712

LAKEWOOD 90713 CENTER MALL Lakewood

Carson 90810

19

est Carson 710

90806

90703

92833

Buena Park

Artesia

9

91 90623 90715

Hawaiian Gardens

90807

90745

90621

Cerritos

91

8

90631

90716

90808

La Palma

92801

90620

Cypress 90630

92804 90680

90755

605

Signal Hill

Los Alamitos

Stanton

90720

90815

1

9

92841

90744

90813

Long Beach 710

90802

90804

92845

90814

92844

405

928

90803 1

90740

Seal Beach

92683

Westminster 92655

9

Midway City


Westmont

Lennox

605

West Athens

Hawthorne

10

Willowbrook

wndale

West Compton

Alondra Park

Downey

Lynwood

Compton

Norwalk

19

10

East Compton

Gardena

Paramount

Bellflower Cerritos

91

Artesia

h

405

Torrance

LAKEWOOD CENTER MALL Lakewood

Carson

Hawaiian Gardens

110 19

West Carson Lomita

Rolling Hills Estates

Rolling Hills

710

Signal Hill 1

Long Beach 710

10

605

1

Seal Beach

Los Alamito


&

La Mirada

DENSE DESIRABLE Buena Park

Set in densely populated neighborhoods of trim and tidy, increasingly valuable homes, the new Lakewood Center will make the most of its enviable, at-the-heart-of-everything location.

91

5 minutes

10 minutes

15 minutes

2021 Population

30,135

249,983

662,806

Households

10,525

80,823

206,987

$119,404

$99,010

$99,354

40.6

36.4

35.6

LAKEWOOD CENTER DRIVE TIMES

La Palma Cypress

Average Household Income Median Age

os

Stanton

DRIVE TIMES 5 Minutes

10 Minutes

15 Minutes

405

Westminster 11

Midway City


REIMAGINED AUTHENTIC

&

Lakewood is slated to become a true town center. The best of so many things – high-performing, large-format shopping, consolidation of strong national brands, great places to live, green spaces to gather, fun entertainment concepts, and a restaurant for every discerning palette. TODAY, WHEN HAVING EVERYTHING YOU WANT CLOSE AT HAND IS MORE IMPORTANT THAN EVER, LAKEWOOD CENTER IS SET TO BECOME A LIVELY HUB – THE GATHERING PLACE FOR THE COMMUNITY.

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OUR VISION FOR THE FUTURE Shaping the future of retail real estate at Lakewood Center means maximizing its generous acreage to provide a modern home for retail, as well as multi-family residences, and green outdoor gathering spaces. This transformational redevelopment starts with right-sizing and fully renovating the retail core that runs from Target to JCPenney as a new highenergy hub. In this diverse and desirable community where there is never enough housing to meet demand, multi-family residences answer local needs and deliver a built-in source of traffic and engagement for retailers.

MORE DENSITY. MORE GREEN GATHERING SPACES. MORE DINING AND ENTERTAINMENT. MORE REASONS TO VISIT. ALL THESE INTEGRATED INTO ONE DESTINATION - MEANS MORE REASONS TO BE AT LAKEWOOD CENTER.

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BE PART OF THIS

REMARKABLE VISION.

15


RED LOBSTER CHIPOTLE MEXICAN GRILL

IHOP

AVAILABLE

FIVE GUYS BURGERS AND FRIES 2,661 SF

T-MOBILE

AMERICA'S BEST CONTACTS & EYEGLASSES

VERIZON WIRELESS

DXL MEN'S APPAREL

MATHNASIUM AVAILABLE 6,510 SF LUNA GRILL

THE VITAMIN SHOPPE

SEAN'S JEWELERS

JENNY CRAIG WEIGHT LOSS CENTRE

AVAILABLE 2,360 SF

TOGO'S 1,461 SF WELLS FARGO

FLAME BROILER, THE - THE RICE BOWL KING

AVAILABLE

STARBUCKS COFFEE JIMMY JOHN'S

CANDLEWOOD SMILES DENTISTRY

UNIFY FINANCIAL FEDERAL CREDIT UNION

MEN'S WEARHOUSE

AVAILABLE 7,469 SF

BEVMO!

CHILI'S GRILL & BAR

CHICK-FIL-A

OUTBACK STEAKHOUSE

JAMBA JUICE

4833

GRAYWOOD

4633

4629

4625

4637

4447

4443

4645A

4931

4995 4993

5001

5305

CANDLEWOOD STREET

4720

AVAILABLE

5000B 524

5245

5252 5250

SUPER MEX

BLACK ANGUS STEAKHOUSE

4680 AVAILABLE 2,008 SF

LAKEWOOD BLVD

7 DAV E’S CHICKEHOT N

4700

AVAILABLE

GEORGES GREEK CAFE

EL TORITO

4895

4771

4630 RAISING CANE'S

5242

4711

EXISTING TRAFFIC SIGNAL

SERVICE STORE DEPT

4404

MIMI'S CAFE

5252A

AT&T

4437

4433

CANDLEWOOD STREET

EXISTING TRAFFIC SIGNAL

4435

4431

4429

4419

4425

4421

5310

4427

4333

4329

4327

5316

MOUNTAIN VIEW TIRES

ROUND TABLE PIZZA

5233

4678

AVAILABLE 4681 5,083 SF

5229

4679 DOLLAR TREE

AVAILABLE

5201

AVAILABLE

CLARK AVENUE

WILD WINGS

12,000 SF

BEST BUY

E XI T/ SE RV ICE AREA

E XI T/ SE RV ICE AREA

4700D

4704D

BURLINGTON

396'-10"

EXISTING

CHANNEL

EXISTING

DRAINAGE

24 HOUR FITNESS SUPER SPORT

WHITEWOOD STREET

FACULTY AVENUE

BLACKTHORNE STREET DRAINAGE

HAZELBROOK STREET

4325 STONEFIRE GRILL

ALBERTSONS

CLARK AVENUE

4705

BANK OF AMERICA

MASSAGE ENVY SPA

APPLEBEE'S

4949

AVAILABLE

4935

AVAILABLE

4611

PEPPERWOOD STREET

LAKEWOOD BOULEVARD

HOME DEPOT

CHANNEL

CURRENT

16

PROPOSED


THE VISION IS THE NEW DESTINATION Vibrant activity, including shopping, dining, residents walking, and gathering throughout the day, is our exciting vision for this next chapter of the center. Planned in a multiple phase approach, this redevelopment will offer purposeful changes to draw more of the hometown crowd for frequent visits.

PHASE I

Strategically consolidate the better, national brands to the Target and JCPenney wing.

PHASE II

Interior remodel of the Target to JCPenney wing.

PHASE III

Reposition the Costco wing to offer entertainment, food and beverage, and an outdoor green space for events and activations.

PHASE IV

Addition of onsite multi-family residences.

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MACERICH (NYSE: MAC) ONE OF THE NATION’S LEADING OWNERS, OPERATORS & DEVELOPERS OF MAJOR RETAIL PROPERTIES IN ATTRACTIVE U.S. MARKETS. INCLUDING CALIFORNIA, THE PACIFIC NORTHWEST, ARIZONA, CHICAGO AND THE METRO NEW YORK TO WASHINGTON, D.C. CORRIDOR.


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