Caruso Affiliated Holdings recently acquired the center, which was built in 1964 and renovated in 1981, from Carlyle Realty Holdings. The property, on Lincoln Boulevard between Mindanao Way and Fiji Way, is on a long-term ground lease held by Los Angeles County. Caruso describes the location as one of the most demographically desirable areas in the city and among the most underserved markets.
The shopping center is anchored by a Ralphs that the grocery chain plans to convert to its upscale Ralphs Fresh Fare supermarket. Among other tenants are Bank of America and Pier 1 Imports. Caruso expects to begin renovations in the second quarter and complete them by the end of the year. The Caruso renovation team will include its own in-house design group, along with Perkowitz & Ruth architects and Richard Sawyer design.
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