Fresh off a Super Bowl title, the Los Angeles Rams are now busy tackling plans for a new education in an old mall.
The NFL franchise is in negotiations to purchase the wooded area of the closed Hills Promenade mall to build an educational center on the 34-acre site, which is owned by Unibail-Rodamco-Westfield, the Los Angeles Times reported for the first time. The deal may only bring in more than $150 million, according to the LA Times.
Eastdil Secured represents Unibail-Rodamco-Westfield in the sale, the resources told Commercial Observer.
Westfield, which bought Promenade in 1998 for $33. 8 million, submitted plans to build apartments, two hotels, 244,000 square feet of advertising area, 600,000 square feet of area and an entertainment center on assets in October 2016, The Real Deal reported at the time. . . The Los Angeles City Council then approved the proposal in December 2020.
The Rams, who won the Super Bowl with a 23-20 victory over the Cincinnati Bengals on Feb. 13 at their SoFi Stadium, trained at California Lutheran University in Thousand Oaks, California, with summer education camps. Rams owner Stan Kroenke moved the franchise to LA from St. Louis in 2016. The team had played in the past in LA until it moved to St. Louis. Louis in 1995.
The Rams did not respond to a request for comment. Westfield and Eastdil Secured declined to comment.
Andrew Coen can be reached at acoen@commercialobserver. com.
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