The first phase of the Paradise Hills Shopping Center remodel has been completed. The retail shopping center located at the northwest corner of 32nd Street & Shea Boulevard was purchased by Paradise Hills Shopping Center LTRL, LLC in the spring of 2013. Existing buildings were updated with new colors and tower elements, metal lattice, and an updated architectural design. Additional phases of the remodel will include a new parking lot, additional buildings and enhanced pedestrian connectivity in the center.
Paradise Hills Shopping Center LTRL, LLC is owned by an affiliate of Kornwasser Shopping Center Properties, LLC and Kennedy Wilson (NYSE:KW). Cameron Cooke/Lateral 10 has a minority economic interest in the managing member’s interest in Paradise Hills Shopping Center, LTRL.
A lease has been signed with YouFit Gym to occupy approximately 13,000 square feet and additional new leases are being negotiated.
“We are excited about YouFit, and we are pleased at the level of interest from retailers and restaurants looking to locate in the remodeled center”, said Gordon Keig, Senior Vice President of Kornwasser Shopping Center Properties. “We’ve really found a diamond in the rough”. The owner is also renewing leases with several of the existing tenants to improve the center’s stability and improve occupancy.