Redwood West Buys The Pike Outlets | Real Estate News
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Redwood West Buys The Pike Outlets | Real Estate News
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Two major real estate firms, Redwood West and Panattoni, just poured $50 million into The Pike Outlets in Long Beach — a massive 400,000-square-foot retail hub originally built in 2003 for $130 million. Redwood West will manage daily operations, leasing and marketing, while aiming to inject another $20 million to transform the outlet into a vibrant community hub with events and local connections. Already 91% leased and drawing 7 million visitors annually, the center features big names like Cinemark, H&M, and P.F. Chang’s. Despite some mall sales hitting rock bottom, Southern California’s retail market remains attractive to investors — especially properties with strong fundamentals and lower prices.
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