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CERRITOS : Towne Center Offers Grand Opening Events

August 25, 1994|JOHN CANALIS

Cerritos Towne Center's new 40-store retail complex is throwing a three-day grand opening this weekend featuring music and free food samples.

The shopping center, anchored by a Wal-Mart store and Smith's Food & Drug Center, will provide about 900 jobs when all 40 businesses are open in October, and should provide the city with about $3.5 million in revenue in its first year, officials said.

The city is expected to collect $1.8 million in lease payments and $1.7 million in sales taxes from the center's developers in the coming year, said city spokeswoman Michele Wastal.

Phoenix-based Vestar Development built the center on 40 acres of city land at Bloomfield Avenue and Towne Center Drive. The retail stores are part of a 125-acre complex that includes a business park, hotel and the Cerritos Performing Arts Center.

The grand opening events are scheduled from 10 a.m. to 9:30 p.m. Friday through Sunday.

A total of 25 stores, including Wal-Mart and Smith's, have already opened.

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