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Article: Development maturing with continued growth of retail. (Spotlight On Porter Ranch).(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 19, 2002
- Author:
CopyrightCOPYRIGHT 2002 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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To get a sense of the enormity of Porter Ranch, consider that the 3 million square feet of commercial space developed there in the past five years represents half of what has been entitled.
The focal point of the community, a nearly 30-year project of Shapell Industries Inc. and Liberty Building Inc., is the five-year-old Town Center, the area's central dining and retail spot.
"Before, residents would have to drive at least three miles to the Northridge Fashion Center for shopping and restaurants," said Gregory Whitney, a senior associate at CB Richard Ellis.
The 520,000-square-foot Town Center is fully leased, with rents averaging $3.50 per ...