Business

Rams owner Stan Kroenke purchases defunct Promenade mall in Woodland Hills for $150 million

By Darleene Powells

May 6, 2022 / 1:13 PM PDT / KCAL News

Rams owner Stan Kroenke buys Woodland Hills mall for $150 million

Rams owner Stan Kroenke purchased the defunct Promenade mall in Woodland Hills for $150 million, fueling speculation he could move his team there and build a year-round practice facility on the property.

The Promenade mall was sold in March for $150 million, but Los Angeles City Councilman Bob Blumenfield confirmed this week to the Los Angeles Daily News that the buyer was Kroenke, the owner of the Super Bowl champion Rams.

A view of the Promenade Mall in Woodland Hills showing the AMC theaters to the righkt and the rest of the mall going off to the left. In the foreground is a new restaurant under construction. Boris Yaro/Los Angeles Times via Getty Images

It's unclear what Kroenke plans to do with the 34-acre property, which is next to the Westfield Topanga & Village along Topanga Canyon Boulevard. According to the Daily News, the Los Angeles City Council in 2020 had come up with a plan to redevelop the property as an entertainment, sports, dining, and residential center.

The Rams are currently headquartered in Agoura Hills and practice during the season at Cal Lutheran in Thousand Oaks.