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Century City Center Redeveloper in Dealmaking Mode. (Retail).


Major changes are afoot at the Century City Shopping Center, which has undergone several metamorphoses since it opened in 1964.

The biggest news is that the long vacant Dive! restaurant, an eatery started by movie moguls Steven Spielberg and Jeffrey Katzenberg and whose interior looked like a submarine, has a new occupant.

Gulfstream Restaurant, a new concept being launched by Restaurants, will open sometime this fall. Gulfstream is a casual seafood dinner restaurant with over sized menus printed on brown grocery bag paper and selection of seafood and comfort food. So far there is only on other Gulfstream Restaurant in the chain, located in Newport Beach.

Another newcomer to the Century City mall is Louis Vuitton, which is moving into a store near Macy's department store. Construction on the store will begin in February and an opening is scheduled for late spring.

Other changes are afoot at the mall, bough in 1999 by Urban Retail Properties Co. of Chicago.

Michael Levin, Urban Retail's executive vice president, said the center would be renovated by adding 70,000 square feet and finding more upscale tenants like Louis Vuitton.

The mall's owner is in lease negotiations with Gelson's Market to occupy a new building fronting Santa Monica Boulevard at the northeast corner of the center. The center could then be reconfigured to add more stores. "If Gelson's goes ahead with the move, we will convert that southwest corner into a more traditional mall. The layout back there is a little awkward," Levin said.

The Crate & Barrel store might expand into a super store. Williams-Sonoma is also considering moving to the mall.

COPYRIGHT 2002 CBJ, L.P.
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Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Urban Retail Properties Co.
Comment:Century City Center Redeveloper in Dealmaking Mode. (Retail).(Urban Retail Properties Co.)
Author:Belgum, Deborah
Publication:Los Angeles Business Journal
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 14, 2002
Words:268
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