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Preview: Stranded at Mall?

Outside the mall, homeless people loiter in the parking lot and trash collects at the curb. Inside, shoppers are scarce, a natural consequence given that most of the storefronts are vacant. Welcome to the Promenade, one of three properties in Westfield Corp.’s massive Woodland Hills shopping complex. Just three weeks ago, the developer unveiled the $350 million outdoor Village at Topanga mall, designed as a connector between the company’s two indoor malls, the Westfield Topanga and the Promenade. The contrast between the fanfare for the grand opening of the Village and the situation at the Promenade is not lost on Yossi Kviatkovsky, owner of the Rack, a sports bar and restaurant at the Promenade. The Rack is suing Westfield for alleged breach of contract. “I might as well have signed a lease on Ventura Boulevard as a stand-alone. Why do I need to pay the rents?” Kviatkovsky told the Business Journal. “I’ve had to market and reinvent myself in order to survive. What I am now is an independent establishment in a dilapidated mall having to be my own draw for my own customers.” Read the complete story in the Oct. 5 edition of the San Fernando Valley Business Journal.

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