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Kroenke’s Buying Spree Continues in Malibu

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Stan Kroenke, who in addition to owning the Los Angeles Rams, the Denver Nuggets, Colorado Avalanche, Colorado Rapids and U.K. soccer team Arsenal, seems to like to collect shopping centers.

In the last two years the billionaire developer purchased The Promenade Mall and The Village in Warner Center, as well as the Anthem property for practice fields for the Rams.

His shopping spree has continued in Malibu, where Kroenke is a resident.

Just this month he purchased Malibu Village  on Cross Creek Road. Malibu Village current tenants include Sephora, Fred Segal, Wells Fargo, Lululemon, Marmalade Cafe and Broad Street Oyster Co.

Kroenke paid $81.5 million, or $1,600 per square foot, for the center. He purchased it from Jamestown, an Atlanta-based real estate investment firm, who sold it for about $40 million less than they purchased it for 10 years ago.

Kroenke also owns Malibu Colony Plaza, where Ralphs is the major tenant.

He is married to Wal-Mart heiress Ann Walton, whose sister Paige Laurie, owns the Trancas Country Mart in Malibu.

Since opening So-Fi Stadium in Inglewood in 2020, home to the Rams, Kroenke has spent over $700 million buying real estate across Los Angeles.

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