Los Angeles Rams owner Stan Kroenke already has a state-of-the-art stadium and a mini-city in the works. Now he’s plotting out a secondary development centered on team facilities.
Kroenke Group purchased a building next to a plot of land he already owns for around $175 million, according to the Los Angeles Times. He is reportedly eyeing a new Rams practice facility, with fields, team offices, and headquarters surrounded by a commerce area.
The group has spent roughly $325 million on property in Los Angeles’ Warner Center area between this latest purchase and a neighboring shopping center it snapped up earlier this year.
- The property, previously occupied by health insurer Anthem Inc., holds a 13-story building on a 25-acre site.
- In addition to a training facility for the Rams, a new $1 billion development could add retail, housing, restaurants, and hotels.
SoFi So Good
The Warner Center site is a 27-mile drive from the Rams’ SoFi Stadium, where the Kroenke Group has one of the world’s largest stadium “mini-city” projects under construction.
The $5 billion venue, also home to the NFL’s Los Angeles Chargers, opened in September 2020 and hosted February’s Super Bowl LVI, which the Rams won.
A 300-acre development in Hollywood Park surrounding the stadium is set to open next year. The colossal project will include 890,000 square feet of retail space, plus offices, housing, and a park.
The retail area is already 65% leased.
