first 50 years, the $225 million Cerritos Towne Center would generate $585 million in tax revenue and 4,500 jobs. Indeed, the national accounts division of ADP moved its regional headquarters into the Cerritos Towne Center and were the first occupants of the office sector. In 1990, Phase I of the Towne Center project welcomed the 8-story Sheraton Cerritos Hotel, which remains the only transient occupancy building in the city. In January 1993, the Cerritos Center for the Performing Arts opened its doors to the public and remains one of the most acclaimed venues for its size. Northern division Retail and restaurants were reserved for the northern quadrants. The city of Cerritos hired the Vestar Development Company of Scottsdale, Arizona to develop the commercial sector along the lines of Newport Beach's Fashion Island. However, further market research revealed that the upscale retail market was in a slump and would compete negatively with the Los Cerritos Center across town. City leaders decided that a more midscale big-box center would succeed and complement shopping in Cerritos. To much fanfare, Smith's Food King and one of the first Walmart stores in the Los Angeles area ushered in the commercial phase of the Towne Center project on August 26, 1994. Today, the Cerritos Towne Center brings in a gross retail sales total in excess of $200 million a year. See also Cerritos, California Cerritos Auto Square Cerritos Center for the Performing Arts Cerritos High School Cerritos Millennium Library Pat Nixon Park Cerritos Veterans Memorial Los Cerritos Center References Eftychiou, A., & Cenovich, M. (2006). Cerritos at 50: celebrating our past and our future. Virginia Beach, VA: The Donning Company Publishers. External links City of Cerritos web site Cerritos Shopping web site Vestar's profile of the Cerritos Towne Center Cerritos Center for the Performing Arts web site Cerritos, California Shopping malls in the South Bay, Los Angeles Power centers (retail) in the United States