Hopkins Mulls Mixed-Use Retail Center

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IRVINE, CA-Hopkins Real Estate Group, which is under way with a number of repositionings and redevelopments of Southern California shopping centers, is considering a similar strategy for the Orange County-based company’s newly acquired Palm Springs Mall. Hopkins, which acquired the 315,000-sf asset recently from Furst Commercial Real Estate for $34 million, plans to renovate the landmark retail property and “is looking at several mixed-use options,” says Stephen Hopkins, president and CEO of the company.

Situated on 26 acres on Tahquitz Canyon Way at Farrell Drive, the mall is close to the Palm Springs Convention Center, Palm Springs International Airport and Downtown Palm Springs.”The centralized location in Palm Springs allows us to upgrade the center and cater to the community that has grown up around it” Hopkins says. He adds that the property represents one of the latest examples of how “in-fill opportunities are surfacing in areas of California that have been overtaken by suburban residential growth.”