Macerich (MAC),and Simon Property (SPG) announced the formation of a 50/50 joint venture to create Los Angeles Premium Outlets. Macerich and Simon will co-develop and jointly lease LA's newest outlet, designed to open with 400,000 square feet, followed by an additional 166,000 square feet in its second phase. Los Angeles Premium Outlets will be located in Carson in LA County and take advantage of its positioning west of the I-5 corridor and south of the I-10 Freeway. Site work for the elevated shopping destination with parking below is expected to begin immediately, with an opening planned for fall 2021. Destined to attract the most affluent local residents and international tourists, Los Angeles Premium Outlets will have 2,500 lineal feet of frontage on the high-traffic I-405 Freeway, with 300,000 cars passing each day. Additionally, 215,000 cars pass the site daily on the I-110 Freeway. The project will also benefit from the region's high density of 2.5M residents within 10 miles and its location just 11 miles from LAX, the nation's second-busiest airport serving 81M passengers annually. In addition, Los Angeles Premium Outlets will be just a short drive from City of Champions Stadium, the future home of the Rams and Chargers.
