Photo by tommao wang on Unsplash
Westside Pavilion Bought by UCLA Instead of Google
December 28, 2023
Just about half a decade ago, Hudson Pacific Properties initiated the new year with high-flying plans to morph the then-closed Westside Pavilion shopping mall into a sprawling office complex spanning over 580,000 square feet exclusively for Google. Fast forward to the present day, it seems those initial plans are on the verge of a major shift as the University of California, Los Angeles has suddenly acquired control of the Westside Pavilion property.
An environmental notice revealed that the University of California, Los Angeles (UCLA) is set to buy the iconic Westside Pavilion from Hudson Pacific Properties and Macerich. The transaction, shrouded in mystery with no disclosed financial specifics, includes both halves of the mall located at 10800-10830 W. Pico Blvd. and 10850 W. Pico Blvd. The former part has been refurbished into office spaces, whereas the latter remains relatively unchanged.
UCLA’s vision for this colossal site remains unknown. A sense of anticipation prevails, as the notice stated that no further development decision would be made until UCLA complies with CEQA and an overarching site development plan gets the green light.
One element conspicuously omitted from the acquisition is the West End, the previous Westside Pavilion’s Macy’s outlet, which has been transformed into an independent 240,000-square-foot office complex by GPI Cos. Moreover, a parking structure that was once an integral part of the mall has been demolished and is undergoing a metamorphosis into a mixed-use apartment complex, also led by GPI.
Despite the uncertainty surrounding the Westside Pavilion site, Google continues to retain its significant footprint in the Los Angeles area. Both Google and YouTube have made the historic Hughes Aircraft facilities in Playa Vista their workplace — which includes the massive 300,000-square-foot Spruce Goose hangar. Google also possesses 12 acres of adjacent property, with future plans for this vacant land under wraps, for now.
This acquisition of the Westside Pavilion marks a significant milestone for UCLA, which has been on an acquisition spree lately. Two of the primary highlights include its purchase of the historic Trust Building in Downtown Los Angeles to set up a satellite campus and the acquisition of the ex-campus of Marymount California University in Rancho Palos Verdes.
Recent News
Media Giants Depend on Sports As Content Shortages Rise
As Hollywood emerges from last year’s strikes, major media companies are turning to live sports to attract audiences and advertisers. This trend was evident during this year’s Upfront presentations, where media giants showcased their upcoming content and advertising opportunities.
New Trader Joe’s Opens in SF After 10 Years
San Francisco’s Hayes Valley neighborhood welcomed a highly anticipated new addition on May 17, 2024, with the grand opening of a Trader Joe’s at 555 Fulton St., on the corner of Laguna Street. This event marks the end of a decade-long wait for residents who have been eagerly looking forward to a new grocery store in their area.
China’s Property Market Boost: Stocks Surge, Copper Hits Highs
The Chinese government unveiled a comprehensive support package that has sent ripples through financial markets. This initiative includes a slew of measures aimed at stimulating housing demand and addressing the excess inventory burdening developers. The immediate impact was a significant rally in Chinese stocks and a surge in commodity prices, notably copper, which hit record highs.
Mercedes-Benz Workers in Alabama Reject Union
In a pivotal moment for autoworkers in the southern United States, employees at a Mercedes-Benz plant in Alabama have voted against joining the United Auto Workers (UAW) union. The outcome, with 56% of workers voting against unionization and 44% in favor, comes as a significant setback for the UAW’s efforts to expand its influence in the region.