Former NASA plant and movie studio in Southern California to become major shopping center and entertainment district
Dallas, November 7, 2016 – Dallas-based Falcon Construction Advisors has completed Phase I and II of Promenade at Downey, the high profile redevelopment project in Downey, California, being developed by Alberta Development Partners and Pacific Coast Capital Partners. The 656,000-square foot shopping center and entertainment district was previously the site of a movie studio and a NASA plant that produced and tested many of the 20th century’s greatest aviation, missile and space endeavors such as the Apollo Space Program and the Space Shuttle.
“The Promenade at Downey will pay tribute to its history throughout the property and will provide shoppers with a diverse selection of retail and entertainment tenants – from HomeGoods to Cinemark – that will truly transform this area into an entertainment district,” said David Hurst, President of Falcon Construction Advisors – a division of Falcon Realty Advisors, a national commercial real estate firm specializing exclusively in representation of retail, restaurant and entertainment tenants.
The Promenade at Downey’s entertainment court will offer educational reading stations with themed elements associated with the space program and an interpretive walk honoring space missions, while the Cinemark NextGen theater will feature panels commemorating Downey Studios, which produced movies such as “Iron Man,” “Spider Man” and “Catch Me If You Can” on the site.
“A cornerstone of Falcon’s business is creating a positive impact on the communities we serve, and the Promenade at Downey will not only broaden the area’s access to quality retail options, but is expected to generate more than $4.5 million of revenue to the city annually and create more than 5,000 new jobs once completed,” added Hurst.
With Phase I and II complete, nearly three dozen best-in-class retailers have officially opened their doors, including Walmart, TJ Maxx, HomeGoods, Ulta, Famous Footwear, Dress Barn, Carter’s, Oshkosh, Five Guys, Chipotle, Mod Pizza, California Fish Grill, Benihana, 24 Hour Fitness, Floor & Décor, Cinemark and Lazy Dog. Located southeast of downtown Los Angeles, the Promenade at Downey will also be home to a host of local, regional and national tenants such as Ruby’s Diner, Bar Louie, Skechers, AT&T and Gaucho Grill.
“At Falcon we consistently wear many hats – architects, general contractors, construction managers to developers – allowing us to provide a unique perspective for each of our projects and our role with the Promenade at Downey has been no exception,” said Tim Hughes, President of Falcon Realty Advisors.
Falcon Construction Advisors provides its clients with comprehensive services including construction management, program management, design services, concept development and interior finish outs for both local and national clients across the country. Falcon Construction Advisors provides more than 50 years of diverse, in-depth experience in both Real Estate Construction and Development.
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About Falcon Realty Advisors:
Falcon Realty Advisors is a privately owned commercial real estate company based in North Texas and operating throughout the U.S. that works exclusively with retail, restaurant and entertainment tenants in real estate strategy, construction and development. Since 2001, Falcon has been marrying the big picture with the bottom line through a model of conscious business to enhance the quality of life in the communities we serve. For more information, please visit www.falconcompanies.com.