Malibu Country Mart

Malibu Country Mart

View of the Malibu Country Mart
Location Malibu, California
Address 3835 Cross Creek Road
3900 Cross Creek Road
23410 Civic Center Way
Malibu, CA 90265
Owner Koss Real Estate Investments
No. of stores and services 67
Total retail floor area Approx. 82,000 square feet (7,600 m2)
No. of floors 1-2
Website facebook.com/malibucountrymart
Families at the Malibu Country Mart
The Playground, Picnic, and Courtyard Areas

The Malibu Country Mart (also the Country Mart or MCM) is a large outdoor lifestyle center or "boutique mall" located in the heart of Malibu at the Civic Center of Malibu, California. The center features a popular public playground, outdoor dining and picnic area, unique sculptures and public art, multiple restaurant options, free Wi-Fi, and on-site parking.

Description

The Malibu Country Mart encompasses 6 acres (24,000 m2) of land in the heart of the Malibu Civic Center and comprises approximately 90,000 square feet (8,400 m2) of high-end retail, dining, and service providers. Its buildings are a mix of architectural styles, displaying Spanish, Mediterranean, modern, and rustic influences. Other features of the property include unique gardens and sculptures, outdoor dining and picnic areas, and a children's playground.[1]

Because of its high end retailers, the Malibu Country Mart has been a destination for the famous and the well-heeled who inhabit the beachfront property west of Los Angeles. The Malibu Civic Center area is the primary local gathering place, known for being frequented by locals and visitors, alike. Some reports suggest that the area has also become an increasingly popular venue for paparazzi.

Limited development and high demand continue to lead to rising real estate prices, and in turn lead to a market in which each successive generations of property buyers is typically wealthier than the one that preceded them. These demographic trends help to explain both a burgeoning market for luxury goods and a diminishing market for prosaic and practical homegoods. Some in Malibu are said to express concern that there will be a "multitude of places to buy a $200 t-shirt, but no place to buy a hammer or a nail."[2]

Location

The Malibu Country Mart is located one block off the Pacific Coast Highway in the heart of the Malibu Civic Center, minutes away from Pepperdine University, Malibu High School (MHS), and the Malibu Pier.

The property is approximately 20 minutes from West Los Angeles, the City of Santa Monica, the San Fernando Valley, and the Conejo Valley.

Ownership

The property was purchased in 1986 by Koss Companies, now known as Koss Real Estate Investments.[3]

Malibu Legacy Park Project

Directly adjacent to the Malibu Country Mart is a currently vacant, 20-acre (81,000 m2) plot of land formerly owned by billionaire media tycoon and Colony resident Jerry Perenchio and sold to the City of Malibu in 2005 with strict deed restrictions prohibiting any commercial use.[4][5]

Current plans for the site involve the development of a state-of-the-art park that is said to work as an "environmental cleaning machine", reducing pollution impacts in Malibu Creek, Malibu Lagoon, and the world-famous Surfrider Beach while simultaneously improving water quality, restoring a native riparian habitat, and preserving open space. The project will be linked by a "linear park" to the neighboring Surfrider Beach, Malibu Pier, Malibu Lagoon, and Malibu Bluffs Park.[6][7]

Between Cross Creek Road and Webb Way east to west, and between Civic Center Way and PCH north to south, it has been the site of the annual Labor Day Weekend Chili Cook-Off festival since 1982.[8]

Tenants

The Malibu Country Mart has 67 merchants encompassing a variety of upscale boutiques, restaurants, spa services, and art galleries. Many new tenants have signed leases at the Malibu Country Mart in recent years.

Retailers can expect to pay between $17 and $22 per square foot per month at the center, on average. Reportedly, James Perse earns some $3.5 million in yearly gross sales, upscale eatery Nobu earns $5.5 million per year, and women’s clothing and accessory boutique Madison earns $4 million a year.[9]

Retailers

Dining

References

  1. ↑ Malibu Country Mart - Official Website
  2. ↑ Malibu Complete – Upscale Shopping in Malibu
  3. ↑ "Malibu Country Mart Bought by Koss Companies". Los Angeles Times. Jan 26, 1986. Retrieved 2008-11-01.
  4. ↑ Malibu Complete – Malibu's Wealthy: A. Jerrold Perenchio
  5. ↑ "The 400 Richest Americans – #85 A Jerrold Perenchio". Forbes. September 21, 2006. Retrieved 2008-11-01.
  6. ↑ Annenberg Foundation – City of Malibu Announces $2 Million Matching Grant from the Annenberg Foundation – Largest-Ever Private Donation to Support the Legacy Park Project. December 10, 2007
  7. ↑ City of Malibu – Malibu Legacy Park Project
  8. ↑ Malibu Complete – Malibu Chili Cook-Off Land Purchase
  9. ↑ https://www.icsc.org/sct/sct_article.php?i=sct0508&s=6&d=1

External links

This article is issued from Wikipedia - version of the Monday, March 07, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.