North Hollywood, CA – February 2020, Centers Business Management (CBM) completed a leasing transaction with All For Health, Health For All in a large community shopping center in prime North Hollywood.
CBM retail specialist, Jason Ehrenpreis, recently completed a lease transaction, representing the landlord in a deal with All For Health, Health For All, a community healthcare provider, on a 1,500 SQFT retail space. The unit is situated in a community shopping center at the major signalized intersection of Vineland Avenue and Magnolia Boulevard in prime North Hollywood. In addition to the center’s Ralphs Grocery anchor, additional A+ national and regional tenants include Subway, Sprint Wireless, Auto Zone, Carl’s Jr, and El Pollo Loco.
All For Health, Health For All (AFH) is a Los Angeles County-based non-profit community healthcare provider. Registered as a Federally qualified health center, AFH is contracted partner of the Los Angeles Department of Health Services. AFH’s core mission is bringing quality healthcare to LA County’s under-served communities. Ordinally founded in 1990, as Broadway Family Medical Center, AFH has since opened seven locations in the three cities spread across Los Angeles County. AFH’s services include general family practice, pediatric care, mental health support, and adult daycare supervision.
“An increasing number of ‘Big Box’ retailers are closing their doors for good or transitioning to smaller format stores. And many soft and hard good retailers have abandoned brick and mortar locations altogether, now operating exclusively online,” says CBM’s Jason Ehrenpreis. “As retail continues to evolve, cultivating alternative uses is key to survival,” Ehrenpreis notes, adding “urgent care and ‘doc-in-a-box’ operators moving into retail properties are prime examples of this adaption.” California has also instated an individual mandate for health insurance [formerly part of Obama Care], as such: “All California residents are now required to maintain health insurance, which means demand for retail medical uses are poised to see strong growth,” Ehrenpreis also notes. In addition, the middle-income neighborhood where the property is situated is a “perfect fit for AFH,” says Ehrenpreis, in reference to the healthcare provider’s commitment to serving Los Angeles County’s economically diverse communities.
“Retail is necessarily changing,” says CBM President, Rick Rivera, adding “it’s a case of evolve or die.” And Rivera sees retail medical tenants as a key component of this evolution, but also notes: “While the use-types and operators may change, tenants still what to be in the ‘right location.’ In other words, prime real estate still holds significant value. And no matter how the retail landscape changes, that fact will remain a constant.”
For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201 | firstname.lastname@example.org.