A nearly 75-year-old mall is headed for redevelopment after being sold to new owners. Retail landlord Macerich has sold the 2 million-square-foot Lakewood Center mall for $332.1 million to a joint venture of three developers and investors, CoStar reported. The move could end up transforming the nearly 150-acre property into a mixed-use development that would reimagine one of Southern California’s largest malls. The buyers are mixed-use-forward investment firm Pacific Retail Capital Partners; Lyon Living, which will handle housing and lifestyle portions of the future development; and Silverpeak, which will provide investment capital and strategic guidance. Lakewood Center, located in the […]
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