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Runway Playa Vista Set for Revisioning, Car-Free Transformation Planned
San Jose-based DJM Capital Partners, Inc. forged an agreement with Invesco Real Estate to reimagine Runway Playa Vista, the 14-acre, mixed-use development on Los Angeles’ Westside. The new configuration, which is is expected to be completed early next year, will make Millennium Drive car-free.
Invesco, which purchased the property in 2016, has entrusted DJM with property management, development, construction, leasing, marketing, programming and branding for Runway Playa Vista. The DJM team includes Stenn Parton, who will oversee the project, along with Kloe Colacarro and Chad Cress.
Parton says, “We are very excited to bring our unique vision for engaging retail environments to Runway.”
The $9.1-million redevelopment will result in a transformation from a “vehicle-dominated” environment, to a “pedestrian-dominated” landscape with extensive outdoor seating and common area amenities. The property at 12775 Millennium Dr. is comprised of more than 220,000 square feet of retail space that’s anchored by Whole Foods Market and Cinemark Theaters.
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