The owners of Torrance’s Del Amo Fashion Center, prodded by city officials who have seen sales tax revenues slide in recent years, said Tuesday they will spend $200 million to upgrade the dowdy mall.
Indianapolis-based Simon Property Group, the nation’s largest real estate company, owns 25 percent of the mall and is its managing partner. The shopping center, one of the largest in the country, boasts almost 2.3 million square feet of retail space.
Simon Property, which owns 393 retail centers around the world, has committed to revamping 14 of the malls it owns and Del Amo is at the top of the list, Mayor Frank Scotto said.
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