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BURBANK, CA-Retailer Bed, Bath & Beyond has signed on as an anchor tenant in the second phase of Crown Realty & Development’s $30-million renovation and repositioning of the Media City Center shopping mall. The retailer’s new location will be part of a second phase of redevelopment in which the mall’s lower floor will be reconfigured to create floor plans for stores that require larger formats than the current in-line shops, explains Robert Flaxman, president of Crown. He says his firm is working with Burbank city officials to begin the second-phase construction before September, a deadline that is a requirement of Bed, Bath & Beyond’s commitment to open at the Media City Center.”Right now, Crown Realty is working with the city to develop a solution that will bridge a funding gap that currently exists” for the second phase, Flaxman adds. Crown has also signed agreements for new tenants at the soon to be completed $7-million first phase of the redevelopment, a program that has added six new tenants over the past 12 months. Jaime Sohacheski, Crown’s chairman, adds that sales per sf have risen by 10% during that 12-month period. Other changes at the shopping venue will include the addition of monument signs for the mall adjacent to the I-5 Freeway, where the signs will be visible to more than 200,000 vehicles per day.Crown acquired the 1.2-million-sf Media City Center in early 2003. The first phase of renovations included an overhaul and enhancement of the mall’s Magnolia Boulevard entrance that faces the Downtown Village and is visible from San Fernando Boulevard. The program includes the addition of two custom restaurant anchors at he mall’s street level entrance.

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