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Net Lease Retail

It’s been a while since we’ve taken a look at the progress in Rick Caruso’s reimagination of the old downtown retail section of Pacific Palisades.

I saw some new illustrations of the retail area in Urbanize LA yesterday and thought it would be a good time for an update on this project that’s expected to be complete in late 2017. The new space was designed by Elkus Manfredi Architects

Much of Caruso’s fame comes from The Grove and the Americana at Brand so Palisades Village will also look like reinvention of small town main streets.

It hasn’t been announced how much addition net lease retail space will be available in the new downtown, but what is known is that there will be substantially more parking for that retail due to a new two story underground parking garage under the new park plus surface street parking that will see a change from parallel to diagonal. Plans for a new specialty grocery are in place plus there will also be a five screen movie theater to replace the long closed (38 years) Bay Theater.

The new retail shops and restaurants will be arranged around a pedestrian friendly Swarthmore Ave with wider sidewalks and traffic reduced to one lane.

As always, if you’re interested in some of the NNN-Properties, net leased, triple net retail space, feel free to contact me, Scott Harris, 310-473-4789 and we’ll see what we can do to get you in the queue.