Sep 17, 2007

Costco will reshape Lakewood CenterBy Karen RobesPressTelegram.com

Lakewood – In what may become a growing business paradigm for regional shopping centers across the nation, Costco announced Monday its plans to take over the former Macy’s retail space at Lakewood Center.

When the 159,000-square-foot wholesale store with gas station opens in fall 2008, the Costco in Lakewood will be the first in Southern California to be attached to a shopping mall.

“I think it’s going to create a retail powerhouse here that will be unparalleled” in the Los Angeles area, said Skip Kuhn, vice president of development at Macerich Co., which owns Lakewood Center.

Officials at Macerich and Seattle-based Costco are in the process of wrapping up negotiations for a 20- to 25-year lease and could begin demolition at the site as early as April or May.

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