Santa Monica-based Macerich Co. and retail developer and operator Simon Property Group Inc. announced they will join to build an outlet mall in Carson.
The 50/50 joint venture between Macerich, a real estate investment trust, and Indianapolis, Ind.-based Simon will co-develop and co-lease the shopping center dubbed the Los Angeles Premium Outlets, according to the companies. The retail center will initially encompass 400,000 square feet and add an additional 166,000 square feet in its second phase. Macerich did not immediately return calls for comment in time for publication.
Site work for the shopping destination is expected to begin immediately, with an opening planned for fall 2021, the companies said.
"Our city is thrilled that this exciting project is moving forward, led by Macerich and Simon, two of the country's biggest and best names in retail real estate," Carson Mayor Albert Robles said in a statement.
Manufacturing, retail and trade reporter Shwanika Narayan can be reached at email@example.com or 323-556-8351. Follow her on Twitter @shwanika.
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