1886 ½ S. Pacific Coast Hwy, Redondo Beach, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agent, Zac Ryburn, recently completed a lease transaction representing the landlord in a deal with Wild Birds Unlimited, a local bird feed and supply store, on a 2,025 SQFT retail space. The unit is in a large community shopping center at the intersection of Pacific Coast Hwy and Prospect Avenue in prime Redondo Beach. The newer, well-maintained center is anchored by CVS and features a diverse co-tenant mix, including Subway, Corner Bakery, Supercuts, and more. Additionally, a well-patronized ARCO gas station is positioned on a pad space at the property’s hard corner.

Los Angeles, CA – April 2018, Centers Business Management (CBM) completes new leasing transactions with expanding pet supply retailer, Centinela Feed & Pet Supplies on Beach Boulevard in prime Huntington Beach.

CBM leasing agents, Aaron Guido, representing the landlord, and Jason Ehrenpreis, representing the tenant, recently completed a new 10-year lease with Centinela Feed & Pet Supplies on busy Beach Boulevard in the heart of Huntington Beach. Centinela Feed will be occupying an 8,100+ SQFT space in a sizable neighborhood center just south of Main Street. The well-located center is situated immediately adjacent to the Elan apartment complex, a newly constructed 6-story, mixed-use development. The impressive structure features 274 apartment residences positioned above ground floor retail, home to a variety of notable tenants, including Scottrade (securities brokerage), Floyd’s Barber Shop, Creamistry (artisanal ice cream maker), and more.

Centinela Feed & Pet Supplies began on Centinela Avenue in what is now the West Los Angeles community of Mar Vista, in the 1930s. The parents of current owners, Chris and Dwight Nakagawa, purchased the store in 1974, and business has remained family owned ever since. When Chris Nakagawa formally took over the business in 1987, Centinela began slowly expanding, opening its second store in 1989. Centinela currently operates 16 stores in total, with two more locations slated for launch this year. Looking toward the future, Centinela intends to secure a third site before the close of 2018, and aim to open three additional locations in 2019.

“Though an end-cap space fronting onto busy Beach Boulevard, the unit is quite large, not mention an odd layout,” says CBM leasing agent, Aaron Guido, adding “the landlord had elevated expectations for the center,” speaking to the property owners hopes to secure an aggressive rental rate and qualified credit tenant. These two factors ensured leasing the unit would be a challenge. Centinela, however, proved an ideal tenant. “Centinela was willing to take the entire space, despite the excess square footage” Guido notes, adding “They agreed upon a highly competitive lease rate on a ten-year deal, balanced with tenant improvement dollars and rent abatement.”

By “Exercising ample creative vision, Centinela saw a path to making use of the space, and was willing to accept the unusual layout,” asserts CBM leasing agent, Jason Ehrenpreis, Centinela’s exclusive representative broker. “Additional storage for stock, along with entertaining the possibility of offering grooming, kennel boarding, and other pet-care related services are all options Centinela considered in their decision to lease the space,” Ehrenpreis reports. Ehrenpreis also notes: “This is Centinela 2nd deal in OC in the last few months,” underscoring the retailer’s continued efforts to “expand their Orange County presence.” And the center’s exceptional Beach Boulevard visibility and prominent positioning next the mixed-use Elan development renders it an ideal location for Centinela’s hopes to further raise its OC profile.

“This deal is proof there’s a tenant for EVERY space!” proclaims CBM President, Rick Rivera. “Whether we’re talking about landlords or tenants, everyone wants what they want,” Rivera observes, concluding “And it’s our job as brokers to bridge the gap, and craft a mutually beneficial compromise, which we clearly achieved in this case.” Though many retail-based businesses have been afflicted by rising eCommerce sales, Rivera notes: “Pet supply has rebounded thanks to astute customer care and in-store offering pet-related service offerings,” in reference to Centinela’s continued stability and robust plans for future growth.

For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201 | rickr@cbm1.com.