[4] It was built, at a cost of $100 million, by developers A. Alfred Taubman, Sheldon Gordon, and E. Phillip Lyon.

The northeast corner of the mall, at the intersection of Beverly and La Cienega Boulevards, is the geographic center of the city's studio zone.

As of 2009[update], the western portion of the mall property contained a cluster of oil wells in an active drilling enclosure operated by Freeport-McMoRan (formally Plains Exploration & Production.

[11] In 1989, Terence Conran's Habitat, a high-end British furniture company, opened an anchor store on the mall's ground level.

[17][18] As part of renovations starting in 2016, the mall aims to bring restaurants back to the empty spaces on the street level.

[19] Starting in March 2016, the Center underwent a major renovation that aimed to add a food hall and several new street-level restaurants and a skylight.

[22] Macy's Men's Store closed around 2021, and the space is currently being converted to a Gold's Gym and a Lucky Strike Lanes bowling alley.