Discount retailers Marshalls and Home Goods could be opening new stores in Porter Ranch.
Side-by-side retail space, in the Porter Ranch Town Center shopping center, at 11460 Porter Ranch Dr., is where the stores are looking to open, the Porter Ranch Neighborhood Council’s Planning and Land Use Committee announced at its board meeting earlier this week.
The location in question was formerly home to a Toys “R” Us and Babies “R Us.
Reps for CalBay Development, LLC, the real estate firm that in late-2019 acquired the Porter Ranch Town Center Toys “R” Us and Babies “R Us building, on Thursday, told What Now Los Angeles (WNLA) in an email those plans aren’t entirely “accurate” and “there are a lot of moving pieces here.”
A site plan for the space from late-2019, shown below, indicates that a portion of the building had a “pending lease” for a “national brand soft goods.”
The property sits as its own fee parcel within the 560,000-square-foot Porter Ranch Town Center which is anchored by Walmart, Ralphs, CVS, and Best Buy.
In fall 2019, the site was occupied by Spirit Halloween on a short-term lease while Calbay went to work on leasing and permitting to “reopen the box with one or more national brand retail tenants.”
“It’s extremely rare to find an opportunity to acquire a vacant retail box in the dominant power center in such a strong trade area of the San Fernando Valley,” Ryan Shea, managing partner of Calbay, said in a prepared statement at the time of the acquisition.
“Porter Ranch Town Center benefits from direct on/off ramp access from the CA-118 freeway and direct adjacency to major economic drivers such as Kaiser Permanente, UCLA Health, and the newly developed Vineyards at Porter Ranch. It was truly a unique opportunity to acquire a well-located value-add retail deal in a market with little to no vacancy.”
Marshalls and Home Goods on Thursday did not respond to a request for comment by WNLA.
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