2040 Glenoaks Boulevard, San Fernando, CA

Centers Business Management (CBM) leasing agents, Jason Ehrenpreis and Geoff Grossman, recently completed a lease transaction representing the landlord and tenant, a local Chinese restaurant, on a 1,000 SQFT retail space. The unit is in Smart and Final + Walgreens anchored community shopping center at the major signalized intersection of Glenoaks and Hubbard in prime San Fernando. In addition to the high-profile anchor tenants, the center also hosts T-Mobile, CosmoProfs beauty supply, and Oportun financial services.


Los Angeles, CA – March 2018, Centers Business Management (CBM) completes a new leasing transaction with an expanding Latin fusion restaurant in a prime West Los Angeles retail strip center

CBM leasing specialist/property manager, Roselene White, recently completed a lease transaction, representing the landlord in a deal with Latin Fusion Kitchen. An expanding area restaurant, Latin Fusion Kitchen will occupy a 1,165 SQFT unit in an exceptionally well-located corner retail shopping center. The property is situated at the major signalized intersection of 3rd Street and La Cienega Boulevard in a highly desirable section of Los Angeles, bordered by Beverly Hills and West Hollywood. Most notably, the property is directly across for the newly remodeled Beverly Center. A prominent Los Angeles landmark, the Westfield owned retail complex recently completed a $500 million-dollar renovation project Additionally, the property is adjacent to the renowned Cedar Sinai Medical Center. And positioned at the mouth of the celebrated 3rd Street retail corridor, home to countless illustrious upscale boutique clothing and jewelry shops and trendy eateries.

Latin Fusion Kitchen’s first store is in the high-profile Hollywood + Highland complex, on legendary Hollywood Boulevard, one of Los Angeles’ top tourist destinations. Serving up an “American” take on “classic Latin cuisine,” Latin Fusion Kitchen offers a diverse menu of popular Hispanic foods. The thriving eatery commands outstanding reviews on Yelp, Tripadvisor, Menupages, and Grubhub. And also earned a “Top 10 Latin Fusion Restaurants” designation from Yelp, currently the web’s leading restaurant review site.

“We faced a number of tricky challenges in leasing this space,” says CBM property manager, Roselene White. “Obviously, a restaurant is the highest and best use for this site. But with eight food uses already in place (in an 11-unit strip center and only approx. 30 parking stalls), parking was a HUGE concern for most prospective tenants,” White notes, adding “And the landlord was intent upon a shorter-term lease, which excluded most credit tenants.” According to White, creditworthy tenants typically only entertain 10-year minimum lease terms. Further complicating matters was the impending expiration of the prior restaurant tenant’s grandfathered code enforcement exceptions: “We only had 90-day window to obtain all necessary business licenses and operators permits,” White says in reference to updated code requirements that take effect after a restaurant space has been closed or not in operation for more than three months. And lastly, there was the issue of the landlord’s expectations for netting a high dollar rental rate. “With the Beverly Connection (another retail complex on the opposite corner of 3rd Street + La Cienega Boulevard) commanding as much as $25 per foot for some units, the landlord had quite high ($$$) expectation.”

Fortunately, Latin Fusion Kitchen checked all the boxes and then some! “While the center offers a diverse variety of cuisine – ranging from Fat Burger and Subway’s traditional fast food fare, to the more ethnically unique Mediterranean, sushi and pizza options – Hispanic food was the one selection we were missing!” White notes gleefully. Latin Fusion Kitchen, well-represented by their astute and capable tenant-rep broker, presented as a competent operator, was comfortable with the parking limitations, willing to accept a shorter-term lease, and capable of paying a completive rental rate. The final result being a win for both the landlord and the tenant.

“Food uses continue to be the most productive retail segment. But this deal illustrates all the hallmark challenges in getting a restaurant deal done: parking, use-type, and rental rate,” says CBM President, Rick Rivera. “Even if code requirements don’t limit parking, prospective tenants often look at a food-heavy site and say ‘this center is under-parked.’” And that perspective scares off many quality operators,” notes Rivera. But, as Rivera further points out: “The reality is multiple restaurants can work [in a smaller center] regardless of parking. And 3rd + La Cienega is a PRIME example. The tenant Latin Fusion Kitchen is replacing a thriving business in that space for over 25 years!”

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

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1551 W. 7th Street, Los Angeles, CA

Centers Business Management (CBM) leasing agents, Jason Ehrenpreis and Geoff Grossman, recently completed a lease transaction representing the landlord in a deal with a local donut shop on a 1,000 SQFT retail space. The unit is in a corner strip center at the intersection of 7th Street and Union Avenue just south of the Downtown Los Angeles’ central hub. Situated amid one of the city Los Angeles’ most densely packed areas, more 1.2 million residents live with a 5-mile radius of the busy neighborhood center. The center’s A+ co-tenants included Little Caesar’s Pizza and Metro PCS cell phone sales + service.


12038 West Street, Garden Grove, CA

Centers Business Management (CBM) leasing agent, David Levcovitch, recently completed a lease transaction representing the landlord and tenant, an independent cell phone seller, on a 1,100 SQFT retail space. The unit is in a mid-block strip center just east of the major signalized intersection of West Street and Chapman Avenue in prime Garden Grove. Situated on the edge of a densely populated residential neighborhood, the thriving center features a diverse mix of food and service tenants.


1364-1372 E. 7th Street, Long Beach, CA

Centers Business Management (CBM) property manager, Pamela Ozell, recently completed a lease presenting the landlord and tenant, a Sparklean coin laundry, on 3,250 SQFT retail space. The unit is in a Grocery Outlet anchored neighborhood strip center at the intersection of 7th Street and Nebraska Avenue in prime Long Beach. Situated amid a densely populated residential community, the well-patronized center, formerly anchored by a high-volume sales Fresh And Easy grocery store, boasts a diverse mix of retail and service tenants.


Redondo Beach, CA – March 2019, Centers Business Management (CBM) completes a new leasing transaction with Chick-A-Fila in a former Burger King Drive-Thru location on busy Artesia Boulevard in prime Redondo Beach.

CBM leasing agent, Kelly Harrison, recently completed a ground lease transaction, representing the landlord in a deal Chick-Fil-A fast food restaurant. Situated on a seven-acre parcel, the site is currently occupied by a Burger King drive-thru location. The well-located property is on the major signalized intersection of Artesia Boulevard and Aviation Way in prime Redondo Beach, a thriving South Bay area retail hub. In addition to the physical restaurant, the sizable lot will also host a large parking area. Stationed along a bustling retail corridor, adjacent businesses sharing the intersection include a pre-school, School of Rock (children’s music school) franchise location, and a Pep Boys automotive supply store.

Chick-Fil-A was founded in 1946 in College Park, George, when the company is still headquartered. The thriving restaurant chain operates 2,200 locations nationwide, which includes over 100 stores throughout greater California. With plans to open additional locations across the US and Canada, Chick-Fil-A is currently in heavy expansion mode. In fact, the fast-food giant has publicly stated its aim to become the 3rd largest restaurant chain by 2020.

“The deal involved buying out [the lease on] an existing Burger King [drive-thru location],” says CBM leasing agent, Kelly Harrison. With heavy restaurant saturation and land for suitable sites scarce in Southern California “repurposing existing restaurant sites” is often the best, if not only option, Harrison adds. Harrison also notes the “lengthy and costly entitlement process, paired with the high construction costs” present further barriers to restaurant development deals. As such, there is no start date for principle construction or stated plans for the new location’s grand opening date.

“Restaurants continue to be the most active retail segment. But this deal demonstrates two of the biggest challenges food-users, even well-capitalized, creditworthy organizations face: Land scarcity and high development costs,” says CBM President, Rick Rivera. “A+ sites are few and far between, which is why investors swarm every new opportunity like blood-thirsty sharks,” Rivera remarks on the circumstances that continue to inflate land prices. Rivera also points out, “Chick-Fil-A is making an enormous investment in this project,” adding “they’re on the hook for the Burger King lease-buyout, entitlement fees, architectural and construction expenditures, and carrying costs. And that’s all before they earn a single dime on the deal.” The reason you only see “top-tier credit tenants on Main + Main intersections” is that, as Rivera states, such enterprises require “deep pockets.”

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

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We’re pleased + proud to announce CBM retail specialists Dave O’Connell, Jason Ehrenpreis + David Levcovitch are 2018 CoStar Power Broker Award winners!

Additionally, CBM also earned a 2018 CoStar Power Broker award for the firm-wide efforts of our industry-leading retail leasing team. This makes our 10th consecutive win! And we owe it all to our top-tier leasing agents.

For additional details, please visit CoStar’s Power Broker awards site.


20943 Roscoe Boulevard, Canoga Park, CA

Centers Business Management (CBM) leasing agent, Jason Ehrenpreis, recently completed a lease transaction representing the landlord in a deal with People Ready Staffing Agency on a 1,900 SQFT retail space. The unit is in a mid-block corner strip center, just north of a major signalized intersection at Roscoe + De Soto in prime Canoga Park. Situated adjacent to a bustling retail intersection, the site neighbors a multitude of A+ national and regional tenants, including Dollar Tree (discount store), Carl’s Jr, Jack-In-The-Box, Jiffy Lube, Popeye’s Chicken, 67 Gas Station, CVS and more.


14929 Hawthorne Boulevard, Lawndale, CA

Centers Business Management (CBM) leasing agent, Matt Saker, recently completed a lease transaction representing the landlord in a deal with local boxing gym on a 4,050 SQFT retail space. The unit is in 7-Eleven anchored corner strip center at the signalized intersection of Hawthorne Boulevard and Rosecrans Avenue in prime Lawndale. Situated along a bustling retail corridor, the property is positioned across Hawthorne Boulevard from a sprawling Big Saver Food grocery store-anchored community shopping center.


11201-11223 National Boulevard, Los Angeles, CA

Centers Business Management (CBM) leasing agents, Geoff Grossman and Jason Ehrenpreis, recently completed a lease transaction representing the landlord in a deal with Wells Fargo on 1,000 SQFT retail space for an ATM banking center. The unit is in a corner strip center at the intersection of National and Sepulveda in prime West LA. Situated at an off ramp from the 10 freeway, just south of the 405 + 10 freeway interchange, the well-located site is adjacent to a high-volume sales Ross Dress For Less (discount store) and a Vons + CVS anchored community shopping center.