The Americana at Brand center in Glendale is a large, outdoor shopping community consisting of over 75 retail shops and 300 condos and apartments. It opened to the public in 2008. One would think this would not have been the best time to open up a retail center. However, apparently in the midst of the recession, the center is doing quite well, and the developer is seeking to expand onto two adjacent properties.
According to an article in the Los Angeles Times, "Developer wants to expand Americana at Brand shopping center," the developer of Americana at Brand -- Rick Caruso -- has sent a letter to the City of Glendale's redevelopment agency indicating his interest in acquiring the Golden Key Hotel and a vacant retail building at the southern edge of Americana. While Mr. Caruso would like to sit down and work out a deal privately, he has indicated that the redevelopment agency's use of eminent domain may be necessary.
On the two parcels, Mr. Caruso seeks to add 140,000 square feet of retail space for three additional tenants. He believes the expansion could generate $800,000 per year in new tax revenue, along with creating new jobs.
Brad Kuhn, Chair of Nossaman's Eminent Domain & Valuation Group, guides property owners, developers, businesses, utilities, and public agencies through complex real estate development and infrastructure projects – ...Full Bio | All Posts | Email | 949.833.7800
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