Vestar Development Co

Irvine-based Sares-Regis Group has obtained approval from the Pico Rivera City Council for a 160-acre industrial and retail development at a former Northrop Grumman aerospace facility at the southwest corner of Washington and Rosemead boulevards. City officials expect Sares-Regis to begin demolishing existing buildings at the site in the spring and begin construction by late summer, said Ann Negendank, Pico Rivera assistant city manager.

Irvine-based Sares-Regis Group has obtained approval from the Pico Rivera City Council for a 160-acre industrial and retail development at a former Northrop Grumman aerospace facility at the southwest corner of Washington and Rosemead boulevards. City officials expect Sares-Regis to begin demolishing existing buildings at the site in the spring and begin construction by late summer, said Ann Negendank, Pico Rivera assistant city manager.

An Arizona development company has agreed to buy a roughly 103-acre site from Lockheed Martin Corp. that city planners consider the cornerstone of the planned Media District North, officials said Friday. Vestar Development Co. of Phoenix has agreed to purchase the parcel, which has been controversial because of neighbors' concerns over contamination, and a sale may be finalized by the end of the month, city and Lockheed officials said.

More than two years after Phoenix-based Vestar Development Co. announced plans for a major retail and office complex north of Burbank's burgeoning Media City, no construction has begun and the deal now faces several major question marks. Although the president of Vestar says plans for the project are moving forward, a spokeswoman for the landowner, Lockheed Martin Corp., says Vestar has canceled its contract to buy the land, leaving Lockheed free to negotiate with others.

More than two years after Phoenix-based Vestar Development Co. announced plans for a major retail and office complex north of Burbank's burgeoning Media City, no construction has begun and the deal now faces several major question marks. Although the president of Vestar says plans for the project are moving forward, a spokeswoman for the landowner, Lockheed Martin Corp., says Vestar has canceled its contract to buy the land, leaving Lockheed free to negotiate with others.

Many cities wouldn't hesitate at the deal offered by developers here last week: a simple zone change to allow a dozen or so retail superstores to ring up millions of dollars in sales tax each year. If that were not enough, the new stores would be built on the site of the old Lockheed plant, now closed. But in Burbank, the reaction so far is tepid. "We are not as desperate as some cities," said City Manager Robert R. Ovrom.

Vestar Development Co. announced that Glendale Fashion Center will reopen in early summer 2000. The retail center had been red tagged after the Northridge earthquake in 1994. Vestar acquired the site and is building a 264,000-square-foot $70-million center. Vestar is also rebuilding the adjacent parking structure owned by the city of Glendale and leased to Vestar using $6.8 million in federal funds from the Federal Emergency Management Agency.

Wal-Mart Stores Inc. plans to open an outlet in the Pico Rivera Towne Center in August 2002. The site of the 650,000-square-foot shopping center at Washington and Rosemead boulevards is a portion of the former Northrop Grumman aerospace plant. Phoenix-based Vestar Development Co. owns the Pico Rivera property in addition to retail centers in nearby Norwalk and Paramount. The 55-acre Pico Rivera shopping center also includes Lowe's Home Improvement, Marshall's, Ross and Staples.

Lockheed Martin has selected Los Angeles-based developer Zelman Cos. to create a retail-office complex on a 103-acre Burbank site next to the Golden State Freeway, company officials said. Zelman won out over at least two rival developers, including Phoenix-based Vestar Development Co., which announced plans to develop the site more than two years ago but allowed a December deadline for completing escrow to pass without finishing the deal. At that time, Bethesda, Md.

Plans for a new movie theater and shopping center at Junipero Serra Road and Camino Capistrano will be unveiled Monday at a City Hall public workshop. Phoenix-based Vestar Development Co. will discuss its project proposal for the 29-acre site, a vacant lot where the city's annual rodeo used to take place. The developer's plans call for a community retail center, including a 136,000-square-foot store, similar to a Wal-Mart or Target, and a stadium-type movie theater.

Many cities wouldn't hesitate at the deal offered by developers here last week: a simple zone change to allow a dozen or so retail superstores to ring up millions of dollars in sales tax each year. If that were not enough, the new stores would be built on the site of the old Lockheed plant, now closed. But in Burbank, the reaction so far is tepid. "We are not as desperate as some cities," said City Manager Robert R. Ovrom.

An Arizona development company has agreed to buy a roughly 103-acre site from Lockheed Martin Corp. that city planners consider the cornerstone of the planned Media District North, officials said Friday. Vestar Development Co. of Phoenix has agreed to purchase the parcel, which has been controversial because of neighbors' concerns over contamination, and a sale may be finalized by the end of the month, city and Lockheed officials said.

Camarillo may be home to another mall near the freeway when a 45-acre parcel is sold by one developer to another in coming months. Vestar Development Co. is buying a site at the foot of Camarillo Airport, at the corner of Las Posas Avenue and Ventura Boulevard, from Prime Retail Inc. A 300,000-square-foot retail center will be built next to the existing Edwards Theatres complex, which is adjacent to the rival Camarillo Premium Outlets.

The Glendale City Council on Tuesday chose Donahue Schriber, the developer of the Glendale Galleria, to spearhead the Town Center, the city's largest retail development in 15 years. Acting as directors of the Glendale Redevelopment Agency, the council voted 4 to 0 to negotiate exclusively with the Newport Beach company to hammer out a development agreement for the project, which could cost more than $100 million.