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8/11/16
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Construction has started on Five Lagunas, a project that includes the rebranding and renovation of the Laguna Hills Mall in Laguna Hills. The center’s rebranding to Five Lagunas pays homage to the five towns situated in close proximity – Laguna Beach, Laguna Canyon, Laguna Hills, Laguna Niguel and Laguna Woods.
The current owner, Merlone Geier Partners, acquired the mall from Simon Property Group in May 2013. Laguna Hills Mall was originally built in 1973 and then renovated in 1994.
Plans for the 68-acre site include 300k sf of newly built-out retail space, 45k sf of retail pad construction and extensive interior and exterior renovations, which will upgrade and modernize the shopping center. Tentatively scheduled for completion in summer of 2018, the 846.9k sf lifestyle center will be completely transformed to include an improved shopping, dining and entertainment experience. Five Lagunas will remain open to the public during construction.
C.W. Driver Companies is the general contractor for this project. C.W. Driver’s scope of work for the project includes a partial demolition of roughly 400k sf of existing structures and another 500k sf of site demolition and interior and exterior renovations. The new construction will increase the project’s total square footage by 8.8k sf.
The current anchor tenants, JCPenney, Macy’s and Nordstrom Rack will remain open, in addition to a handful of restaurants; however, the façades of JCPenney and Macy’s will be upgraded. The renovation will open up the indoor mall to the outdoors, with the addition of a one-acre park, near JCPenney, which will include a water feature in the area adjacent to Macy’s. A luxury movie theater overlooking the park is expected to add to the on-site entertainment, enhancing the overall shopping experience.
The improved development will draw in new retail, dining and entertainment tenants in order to appeal to new consumer needs. Merlone Geier plans to lease space to a unique mix of up to 40 new tenants.
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