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Article: SUCCESSION OF OWNERS? PROPOSED SALE OF MEDIA CITY CENTER MAY JUST BE THE START.(Business)
- Article from:
- Daily News (Los Angeles, CA)
- Article date:
- November 15, 2002
CopyrightCOPYRIGHT 2002 Daily News. 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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Byline: Susan Abram Staff Writer
BURBANK - Media City Center could be in for a sudden string of new owners, real estate experts said Thursday.
San-Diego based Pan Pacific Retail Properties announced plans last week to acquire Center Trust, owners of the Media City Center and 32 other properties in four West Coast states. The $600 million acquisition is not expected to be completed until shareholders vote on an agreement early next year, Pan Pacific officials said.
The deal will bring 5.1 million square feet of space to Pan Pacific's portfolio, with Media City Center and the Baldwin Hills Plaza as the cornerstones. The 11-year-old Media City ...