Kroenke Snaps Up Malibu Shopping Center for $82M

In addition to his array of pro sports teams, Stan Kroenke also collects shopping malls in Southern California, based on the billionaire developer’s latest purchase. 

Kroenke, owner of the Los Angeles Rams, the Denver Nuggets and U.K. soccer club Arsenal, has bought Malibu Village, a 51,000-square-foot shopping center in Malibu, for $81.5 million, or about $1,600 per square foot, according to a source familiar with the matter. 

Doug Harmon, Kevin Donner and Ben Lushing picked up the assignment while they were at Cushman & Wakefield, though the team has since moved to Newmark. The brokers declined to comment, and Kroenke could not be reached for comment. 

Jamestown, the Atlanta-based real estate investment firm best known for owning One Times Square in New York City, sold the property for about $40 million less than what it bought it for almost 10 years ago, records show. Jamestown did not respond to a request for comment.

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