As Macy's closes down, Irvine Spectrum Center will be getting some big updates.

Private real estate investor and master planner, Irvine Co., recently announced a $150 million reinvestment in Irvine Spectrum Center, which is a high profile shopping center in Southern California. Irvine Co. is planning on building 20 new stores in two new buildings that will be on the current Macy's site. Macy's recently accounted they will be closing 40 stores across the nation, including the store at Irvine Spectrum Center. The closure of Macy's gives Irvine Co. the opportunity to rebalance the Irvine Spectrum Center with new retail stores, helping to solidify the shopping center's reputation as a premier dining, shopping, and entertainment destination. In addition to the new stores, Irvine Co. will be upgrading the landscaping in the shopping center itself, adding shade areas and seating, improving the shopping center, and provide new amenities. According to Irvine Co., the center houses the number one comedy club in the country – Improve Comedy Club. The comedy club was recently expanded and relocated in the Center. One of the highest grossing movie theaters in the country also calls Irvine Spectrum Center home, with 21 screens and 6,400 seats. Between 2014 and 2015, more than $40 million have been invested in the Irvine Spectrum Center by Irvine Co., adding around 57,000 square feet of space to its restaurants and retail stores. The center also completed a retrofit of the Giant Wheel, improvements to the “ring road,” and enhancements to the parking garage. For more information about what the expansion and update to the Irvine Spectrum Center will mean for the hospitality industry in Southern California, contact Parkwest General Contractors.