By Eric Furth
Staff Writer
The Point, a new shopping center built to complement the El Segundo Plaza, is set to open this summer at the intersection of Sepulveda Boulevard and Rosecrans Avenue.
The Point will feature a multitude of retailers and restaurants. Construction is headed by the New York-based construction company Federal Realty Investment Trust.
“The El Segundo City Council is proud to have such a welcome new addition to its city in the form of The Point,” El Segundo mayor Suzanne Fuentes said. “We want for it to become another place in El Segundo where anyone can go and have a good time.”
Some of the stores which are being added to the El Segundo shopping center will include William Sonoma, J. Crew, SoulCycle, and Pottery Barn. Other possible tenants are currently making bids to claim spaces.
“This is one of the largest projects we’ve ever taken on,” Federal Realty Investment Trust Vice President Jeff Kreshek said. “Progress is coming along nicely, and we can’t wait to unveil the final product.”
The Point will occupy 115,000 square feet and will include several complexes that can be used for possible apartments or office spaces. The project has cost $80 million thus far.
“We have the utmost faith in The Point. We know that it will be a fantastic new area where anyone can go to,” El Segundo City Council member Dave Atkinson said, “We’ve looked towards other shopping centers in the Los Angeles area for inspiration, and have planned accordingly. ”
The main plaza, spanning 45,000 square feet, will include fire pits, fountains, multiple benches, tables, and palm trees. The entire shopping center will occupy the 115,000-square foot lot, which has gone unused for several years.
“The South Bay was missing a place where one could dine, shop, and socialize while also having a place for people to work or live. ” Bob Baker of BMW Realty Advisors said. “It’s a fairly unique combination, as far as shopping centers in the area go.”
The main goal of The Point is to create a space where any and all groups of people can socialize and relax, trying to edge away from becoming a stereotypical mall.
“Compared to our previous project, the El Segundo Plaza, The Point is something almost completely different,” Kreshek said, “But that just opens up all the more possibilities.”
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