Inside the $200M Upgrade to the Irvine Spectrum

The Irvine Co. has completed a $200 million capital improvement plan on the Irvine Spectrum shopping center in Orange County. The Macy’s department store shuttered at the center in 2016, and the Irvine Co. took the opportunity to re-focus and position the retail destination for long-term success amid an evolving retail market. The $200 million renovation made way for 30 new retail boutiques and restaurants in four new buildings and outdoor spaces with landscaping and seating areas.

“This $200-million reinvestment was an opportunity for the Irvine Company to do what it does best as a long-term owner: master plan and think long-term,” Butch Knerr, president of retail properties at Irvine Co., tells GlobeSt.com. “The former Macy’s space offered an opportunity for us to expand Irvine Spectrum Center’s world-class shopping, dining and entertainment, and the new stores, amenities and outdoor spaces have received great reviews.”

Like many major retail owners that have executed significant capital improvement plans recently, the Irvine Co. wanted to reinforce the experiential aspect of the center. “Our center is often referred to as the “downtown of Orange County,” given it’s prime location and easy access, and this reinvestment allowed us to—in addition to adding 135,000 square feet of new retail—continue creating an experience unlike any other retail environment in the region,” says Knerr. “The new soft seating furniture, additional fountains, more green space and shading, and other amenities, like the Luckey Climber created by Yale School of Architecture graduate Spencer Luckey, more parking and new restrooms further emphasize the opportunity to create community and increase social interaction as our guests enjoy these new additions.”

The new tenants will open at the center through 2019. The Irvine Co. has always held a forward-thinking tenanting strategy, and did not deviate from its format. The new tenants include The Denim Lab, Apple Irvine Spectrum, Drybar, BLKdot Coffee and Hello Kitty Café, to name a few. “Irvine Spectrum Center already is known for its leading retailers and restaurant options, but we additionally wanted to introduce new and renowned brands with local roots,” adds Knerr. “It was our intention to celebrate the artistic ingenuity found in companies that represented Southern California lifestyle. We’re grateful to partner and work together to provide customers with merchants that have local roots.” Some of the new leases included lease expansions, like H&M, which significantly expanded its footprint at the center. “We are proud that in today’s retail environment, H&M chose to nearly quadruple their square footage and open a new flagship store, while Apple nearly tripled their square footage with their new location at the center,” adds Knerr.

The Irvine Co. unveiled the renovation last week, and has already seen a fervent response from locals and regular shoppers. “Longtime shoppers and first-time visitors were eager to check out this expansion, especially since Irvine Spectrum Center is at the forefront of the Orange County retail landscape,” says Knerr. “We’ve received positive and wonderful feedback ranging from how the merchandise offering meets their needs and children loving the unique climbing structure, to diners finding an elevated variety of great food options. We are extremely pleased to give our 18 million visitors more reasons to return and those who are visiting Irvine Spectrum Center for the first time multiple reasons to return.”