OXNARD, CA -- Transformation of a dated former outlet mall in
Oxnard, CA into an architecturally-distinctive, family-oriented entertainment and shopping
gathering venue offers its first glimpse Oct. 15 when phase one of "The Palms"
is scheduled to be unveiled by Silagi Development and Management, Inc. of Thousand Oaks,
CA. "The Palms will be the most attractive center of its kind in Ventura
County, right there with the Promenade in Westlake Village.
It is aimed at meeting the
needs of a wide range of families as reflected in the mounting residential growth in the
Oxnard area," said Moshe Silagi, principal of Silagi Development and Management.
"In fact, in order to achieve the desired level of quality at The Palms, we are
spending substantially more than the $2.5 million originally earmarked for the property's
re-construction," Silagi revealed.
Covering 14 acres
strategically located with extensive Interstate 101 frontage between Rose and Rice Avenue
where the Oxnard Factory Outlet once stood, "The Palms" will present an entirely
fresh look to replace the former tin roof/barn motif.
The major facelift being
afforded the property is marked by tile roofs and new Mediterranean-styled facades,
tropical landscaping expressed by stands of over 80 palm trees, an entertainment plaza,
and a focal point, six-story clock tower. Johnson, Mueller of Oxnard is the project
architect.
"This is one of the
largest re-construction projects of its kind ever undertaken in Oxnard and responds to the
city's new demographics. The Palms will become a place where families can come together to
be entertained and do some shopping in a town center environment," said Joe Lopez of
Westcord Commercial Real Estate Services of Westlake Village, CA. Lopez and Tony
Principe, executive vice president of Westcord, are exclusive marketing agents for The
Palms.
Phase one of "The
Palms" features re-construction of two buildings totaling 100,000 sq. ft. Phase
two, to begin immediately following completion of the initial phase, will provide another
40,000 sq. ft. of newly-configured space that will transform a former food court into an
open air, glass enclosed rotunda where bands will perform on weekends, and
amusements for youngsters will be provided, said Lopez. Numerous fountains and
striking sculptures will adorn the center.
The final phase will
consist of demolition of some food court space for creation of another 30,000 sq. ft. of
retail and restaurant space for a total project of 170,000 sq. ft.
Underscoring what he said
was their "strong belief in the project's prime Oxnard location and its prospects for
long-term success," Silagi reported that Sit 'N Sleep, Soft Tub, electronic supplier
Marvac, Carpets Direct, and TLC Uniforms remain as tenants at "The Palms".
He added that several leases are currently out for signature for a restaurant (3000 sq.
ft.), a day spa (2000 sq. ft.), and a vitamin and herb store (2100 sq. ft.), among
others. He noted that the familiar "water tank" which makes the project
visible for miles, is being evaluated as a signature signage element. "As it
progresses, the center will provide weekend entertainment for adults on Saturday evenings,
and Saturday or Sunday daytime for children," Silagi emphasized.
Lopez noted that space
available at "The Palms" totals 104,308 sq. ft., ranging from buildings of 6868
to 57,740 sq. ft. He emphasized that the project's demographics are
"outstanding", with nearly a quarter of a million people within a five-mile
radius and an average daily traffic count of 160,000 cars passing along I-101.
He added that a 320-room
Hilton Hotel is underway just east of "The Palms", 320 apartment units have been
approved nearby, and that an Outback restaurant and 60,000 sq. ft. Gold's Gym are underway
on an adjacent parcel.
Westcord, which traces its
origins in the region to 1969, is a full-service regional company that ranks among the Los
Angeles area's top 25 commercial real estate firms, with offices in Westlake Village, CA,
and Van Nuys, CA |
