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Developer Secures $23 Million for Redevelopment of Crossroads Plaza in Pico Rivera

July 16, 2021

BY BRIAN HEWS

Following the announcement of Burlington Coat Factory moving into the old Home Depot building at the Crossroads Plaza Shopping Center, Crossroads Plaza LP, and its developer, TRF Pacific LLC, have secured a $23 million dollar loan to renovate the site.

A press release stated,  “Loan proceeds will be used to redevelop and renovate portions of the center and develop an additional 12,000 square feet of proposed shop space.”

Located at 9050-9200 Whittier Blvd., the Crossroads Plaza Shopping Center is a 10.4-acre site in Pico Rivera. Originally built in 1988, Crossroads Shopping Center is undergoing redevelopment. The center is shadow-anchored by Superior Grocery, an independent grocery store chain based in Southern California.

Burlington Moves In

The 100,000 square-foot eyesore at 9200 Whittier in Pico Rivera is going to be looking good in a few months. After the Home Depot closed in 2018, the lot sat unused and ugly, but no more.

Burlington Coat Factory, which sells all kinds of jackets, but also other items much like a Ross Store, is moving in.

The city told HMG-CN that the company already has been issued permits for minor interior work, including electrical and plumbing and HVAC.

Chase bank will follow, relocating its branch from the northside of Whittier Boulevard, officials said.

“This is great news,” City Manager Steve Carmona told HMG-CN. “Our home depot has been vacant for years, and we lost a significant amount of sales tax due to Home Depot relocating. Our Council and staff have been very active in attempts to secure national tenants at this site. Burlington and Chase Bank have now been confirmed, and others will be announced shortly. In addition to more tenants, the Center will get a much-needed facelift. One more exciting development is the owner (TRF) is funding a consultant to study the creation of a Business Improvement District for Whittier Blvd. If it is determined to be viable, you will see an even more dramatic change along this corridor. The City Council has placed this corridor as one of its priorities in its Corridor Revitalization program.”

Home Depot typically represents one of the largest tax producers in any city, and that was the case for Pico Rivera.

And all city officials labeled the lot difficult to look at. Mayor Elias said, “Look at the site, it is surrounded by a green fence on a major thoroughfare, the visuals are not very good. Our City Team did a great job in bringing Burlington in, the store will be a great sales tax generator.”

Marco Zapien, Pico Rivera Chamber of Commerce President, said the new Burlington store will be a great anchor and bring in smaller businesses to the city.

“The lot is on Whittier Blvd., it’s a huge space.” he said, “now it’s going to have a large retailer, good for the city.”

 

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