Shopping Center Business

MAY 2017

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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HHLA 250 • SHOPPING CENTER BUSINESS • May 2017 W ith a $30 million renovation plan, Laurus Corporation is looking to revamp The Prom- enade at Howard Hughes Center in the heart of West Los Angeles. With its new name — HHLA — and a new set of ten- ants, the company is looking to make the property a destination for dining and fam- ily-friendly entertainment. "We're taking an asset that is well po- sitioned and modernizing it to become more relevant to what consumers are looking for today," says Austin Khan, chief investment officer of Laurus Corpo- ration, which acquired the asset in 2015. "The goal is to make HHLA the preemi- nent destination for dining and entertain- ment in Westchester." Renovations on the property will in- clude the reconfiguration of a space for- merly occupied by Nordstrom to include smaller-concept dining and retail space. The center's physical layout is also set to undergo change, with the addition of more indoor-outdoor connections, great- er pedestrian access and an expanded cen- ter courtyard to include community-gath- ering space. "We're doing some physical renova- tions to really open up the center court- yard to improve visibility into the center and pedestrian access," says Khan. "We're planning to add a crosswalk that connects the center to the Howard Hughes office buildings across the street. We also have the opportunity to transform functionally obsolescent retail box space into vibrant restaurant, cafe and entertainment space for a variety of tenants." The expanded courtyard adjacent to the center's Cinemark Theater is set to be- come "the heart" of the rebranded HHLA development. "In the center courtyard, we're going to have an outdoor screen- ing area for movies and a fire pit that will be a great gathering space for the center," continues Khan. Enhanced landscaping and updated interior design will also be implemented as part of the renovations, spearheaded by architecture firm JERDE. Construction at the site began earlier this year, and is expected for completion by 2018. The existing Cinemark Theater, all ground level businesses and the park- ing garage will remain open throughout the renovation process. In addition to the Laurus Corporation's investment, the neighborhood will soon be home to 1.3 million square feet of new office space and 3,200 new apartments, bringing additional foot traffic for the center. "We're really excited, this is a center that I think is going to be a huge draw for the surrounding community," says Khan. SCB Upgrading The Experience The renovation and rebranding of The Promenade at Howard Hughes Center by the Laurus Corporation brings a family-friendly dining and entertainment destination to West Los Angeles. Katie Sloan HHLA — formerly known as The Promenade at Howard Hughes Center — will bring a family-friendly dining and entertainment destination to to West Los Angeles.

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