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PICO RIVERA, CA-Vestar Development Co. says Wal-Mart Stores Inc. has signed a deal to open a new store at the 650,000-sf shopping center that Vestar is building here on the site of the former Northrop Grumman aerospace plant.

The new Wal-Mart will open next summer, a spokesperson for Phoenix-based Vestar says. The 55-acre shopping center is rising at the corner of Rosemead and Washington boulevards.

Several other large retail chains have previously signed up for space at the 650,000-sf retail complex. They include Lowe’s Home Improvement, Staples, and clothing retailers Ross and Marshall’s.

The new shopping center is considered a key to reinvigorating Pico Rivera’s local economy. The old Northrop Grumman plant employed more than 1,000 people and generated millions in annual tax revenue before it was shuttered a few years ago.

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