Palm Springs Mall Set for Redevelopment
Orange County, Calif.–based Hopkins Real Estate Group, which closed escrow June 7 on the Palm Springs Mall, has big plans for the 315,000-square-foot center, which it acquired from Furst Commercial Real Estate for $34 million.
Company executives said they would reposition and re-merchandise the 26-acre property, which is on Tahquitz Canyon Way near the Palm Springs Convention Center and Palm Springs International Airport. The aging center has been overshadowed by newer, more modern centers such as the River at Rancho Mirage and the recently renovated Westfield Center in Palm Desert.
Hopkins officials said the mall’s location in the lower desert near the airport and convention center positioned it well for a renovation.
“The Palm Springs Mall provides an excellent example of how in-fill opportunities are surfacing in areas of California that have been overtaken by suburban residential growth,” said Chief Executive Officer Stephen C. Hopkins.
Gottschalks and Ross Dress for Less anchor the center, which is supported by about 40 tenants.
Hopkins specializes in developing and acquiring neighborhood and community shopping centers in urban in-fill and redevelopment areas, as well as mixed-use commercial projects. It was involved in renovations of the Whittwood Town Center in Whittier, Calif., and the South Bay Pavilion in Carson, Calif. Other projects include the Village at Redlands in Redlands, Calif.
—Robert McAllister
