Welcome back to the Sunstone Way!
Here come the “new look” Angels! I can’t wait.
But we’ll all wait until spring 2027, when sports and real estate mogul Stan Kroenke’s purchase of the Los Angeles Angels (I bet it will be the Anaheim Angels soon) is expected to become official. Kroenke and his team have vowed not to talk about Big A stadium renovations and redevelopment of the surrounding 150 acres until the sale is complete. And the baseball team’s reconstruction likely will wait until then, too.
The City of Anaheim isn’t waiting. Pardon the hyperbole, but they are ready to soar on Angels’ wings!
Who’s Kroenke?
As of 2026, Kroenke is the largest private landowner in the U.S., owning more than 2.7 million acres across the American West and Canada. Working cattle ranches are a big part of his holdings. Real estate developments across the country add to the portfolio. Along with his wife, Ann Walton Kroenke, the couple’s net worth is $38.4 billion, according to Forbes and the Orange County Business Journal.
In addition to the real estate, Kroenke Sports & Entertainment has a portfolio including the Denver Nuggets (NBA champions in 2023), the Colorado Avalanche (Stanley Cup champions in 2022), the Colorado Rapids (MLS champions in 2010), and the Arsenal Football Club (current champions of the Premier League).
Oh, he also owns the Los Angeles Rams, 2022 Super Bowl champion and a favorite to return to the Big Game this season. Kroenke moved the Rams back to Los Angeles by promising, then building, SoFi Stadium. That includes redeveloping the surrounding 300 acres that once was home to the Hollywood Park horse racing complex.
Economic Engine
It’s that SoFi development that has me – and many others – so excited about Anaheim’s future. SoFi and the nearby YouTube Theater are instantly recognizable architectural marvels. Initial plans for the area’s buildout include 900,000 square feet of retail, 800,000 square feet of office space, up to 2,500 new residential units, a luxury hotel and lots of open space (https://en.wikipedia.org/wiki/SoFi_Stadium).
So far, the Shops At Hollywood Park features 390,000 square feet of retail and restaurants, more than 500 housing units have been opened, work has begun on a film studio and Olympic broadcast facility, a People Mover transit project has started construction… You get the picture.
All that construction has created thousands of jobs. The new businesses will create more jobs, and the many events will likely generate traffic for those businesses and others nearby.
In other words, SoFi looks like economic development on steroids for Inglewood, where it is located. It also is an example of P3 (Public-Private Partnership) development, with local, county, and state governments all lending a hand.
Momentum for Anaheim
The city of Anaheim owns the Big A stadium and the surrounding land. Officials have tried multiple times to redevelop the area, including the most recent failed effort with Angels owner Arte Moreno.
While that has stalled, two multi-billion-dollar developments, both entertainment related, are going full steam ahead. Near the Big A, Anaheim Ducks owner the Samueli family is spending $4 billion to develop OCVibe, a 100-acre mixed-use district with 230,000 square feet of retail, a 5,000-seat concert hall, 2,200 apartment units, 20 acres of public space and more. Another $1 billion also has been earmarked to improve and upgrade the city-owned Honda Center arena, home to the Ducks hockey team and many other entertainment events.
Anaheim is known worldwide for being home to Disneyland, and the Walt Disney Company is moving ahead with its multi-billion-dollar DisneylandForward expansion. Disney promised to spend at least $1.9 billion in the first 10 years to win city approval for the project.
Add Kroenke and the Angels, and Anaheim economic development looks to be at warp speed.
Stepping Up
Stan Kroenke has shown over and over again that he is an innovator, an entrepreneur and a risk taker. His history is one of improving the communities he works in by creating economic engines.
He doesn’t do all this by himself. He relies on his talented teams at his multiple companies, and he relies on his partners – public and private – to work together to make something good happen.
I’m pleased to say that Sunstone Cities is preparing a project with City of Anaheim leaders as well. You’ll hear more about it as the fourth quarter of the year begins.
Partnering with the community for the benefit of those who are part of the community – that’s the Sunstone Way! Thank you to Stan Kroenke for acting like a Sunstone.
And don’t forget to be a Sunstone too.
John Keisler
CEO & Managing Partner
Sunstone
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Sunstone Investment Group, headquartered in Southern California, is the holding company for the Sunstone family of entities, including: Sunstone Investment Management Services, responsible for administrative services; Sunstone Advisors, an SEC-registered investment adviser, which oversees Sunstone Venture Partners LLC, a private capital fund manager; Sunstone Cities, a government economic development consulting firm; and Sunstone Community Fund, a charitable organization that supports entrepreneurship. Sunstone is dedicated to enriching lives through investment, entrepreneurship, and community.
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