LA VERNE, CA-A joint venture of Beverly Hills-based BIGUSA and Kimco Realty Corp. has unveiled anew Marshalls department store and plans a newStaples at the 226,872-square-foot LaVerne Towne Center, which the JV acquired in June 2010.BIG USA, which is a subsidiary of Israel-based BIG ShoppingCenters, points out that the two new anchors are part of arevitalization of the center, including significant capitalinvestment and a strengthened tenant roster.

With the addition of Marshalls, and Staples scheduled in early2012, the Towne Center “has become one of the trade area’s dominantshopping centers,” according to an announcement from BIG USA.Stanley McElroy Jr., president of the company,said in the announcement that the La Verne project “exemplifies BIGShopping Centers’ strategy of building strong partnerships withwell-respected REIT partners to acquire quality shopping centersthroughout the US.”

Marshalls, one of the nation’s largest off-price retailers, heldits grand opening at the Towne Center last week, drawing city andbusiness officials. Marshalls “will be surrounded by a strongretail mix, including Target and other convenient neighborhoodservices,” along with the new Staples, according to theannouncement.