The Irvine Co. has completed a $200 million capital improvement plan on the Irvine Spectrum shopping center in Orange County. The Macy's department store shuttered at the center in 2016, and the Irvine Co. took the opportunity to re-focus and position the retail destination for long-term success amid an evolving retail market. The $200 million renovation made way for 30 new retail boutiques and restaurants in four new buildings and outdoor spaces with landscaping and seating areas.

“This $200-million reinvestment was an opportunity for the Irvine Company to do what it does best as a long-term owner: master plan and think long-term,” Butch Knerr, president of retail properties at Irvine Co., tells GlobeSt.com. “The former Macy's space offered an opportunity for us to expand Irvine Spectrum Center's world-class shopping, dining and entertainment, and the new stores, amenities and outdoor spaces have received great reviews.”

Like many major retail owners that have executed significant capital improvement plans recently, the Irvine Co. wanted to reinforce the experiential aspect of the center. “Our center is often referred to as the “downtown of Orange County,” given it's prime location and easy access, and this reinvestment allowed us to—in addition to adding 135,000 square feet of new retail—continue creating an experience unlike any other retail environment in the region,” says Knerr. “The new soft seating furniture, additional fountains, more green space and shading, and other amenities, like the Luckey Climber created by Yale School of Architecture graduate Spencer Luckey, more parking and new restrooms further emphasize the opportunity to create community and increase social interaction as our guests enjoy these new additions.”