Triple Five Group Ltd., the Canada-based company that owns the Mall of America, is in negotiations to buy the Rocketdyne site in the San Fernando Valley’s Warner Center neighborhood, CoStar reports.
The 47-acre property was once home to a factory that manufactured rocket engines, and, according to CoStar, it’s “one of the largest redevelopment sites in Los Angeles.” It could reportedly fetch about $150 million.
It has been on the market on the market for a while now. The property was even floated by Los Angeles City Councilmember Bob Blumenfield, who represents the area, as a possible future site for Amazon’s second headquarters.
At one point, in 2014, there were plans to turn the former facility into an enormous eco-friendly, high-rise community with nearly 4,000 apartments and condos, a hotel, and more than 1 million square feet of offices.