Anaheim, CA – August 2019, Centers Business Management (CBM) completed a new leasing transaction with Southwestern National Bank in a mid-block strip center on Busy Ball Road in prime Anaheim

CBM leasing agent, Matt Saker, recently completed a lease transaction, representing the landlord in a deal with Southwestern National Bank. The Huston, Texas-based Southwestern National Bank will occupy a 4,900 SQFT space formerly inhabited by the Bank of California. Situated in a sizable, mid-block strip center, the property is home to a dozen prospering restaurant and service-oriented retail tenants. Located just east of the major signalized intersection at Beach Boulevard, the property straddles the borders between a thriving retail trade area and a densely populated residential community.

Founded in 1997 in Houston, Texas, Southwestern National Bank is a minority-owned business. Launched by a group of Asian Americans, Southwestern was established primarily to serve minority banking consumers. While the Anaheim site marks Southwestern’s first location outside of Texas – the bank currently boasts six retail outlets spread across the state – the flourishing financial services operation aims to open additional locations in the southwestern and northeastern regions of the United States.

A seamless transaction, the deal “came together easily,” thanks largely due to “Southeastern taking over a former Bank of California branch,” says CBM leasing agent, Matt Saker. “There’s a vault in place and the interior is already built-out to serve as a bank,” Saker notes. Saker also credits the roots of this deal to a broader shift in the banking world: “Many national retail banks just aren’t expanding,” creating a void that has opened opportunities for emerging banks, like Southwestern. “Well-established banks are relying more on online banking and other services, which in turn is reducing their retail presence,” Saker notes. This transition has seen a growing number of smaller, often regional banks expanding into prior national bank locations. Former bank sites can also be “repurposed and leased to a variety of other retail users,” Saker says, adding “and I’ve assisted a number of landlords with releasing these types of vacancies.”

“While retail is in a serious state of flux, it’s by no means disappearing. And this deal is a prime example!” says CBM President, Rick Rivera. “Space initially designed and constructed for a particular use isn’t obsolete if the original tenant vacates,” Rivera notes, adding “repurposing is an eternal mainstay of retail real estate.”

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

###


The 2019 ICSC Western Division Conference — scheduled for September 16-18 — is less than a week away!

CBM is once again exhibiting at the convention. But this year, we’re changing things up a bit… Rather than our usual location, which has typically been facing the conventional hall doors, this year our island booth is fronting onto Retailer Row.

Over the past coupled of years, the convention’s concentration has shifted inward, focusing attention on the internal concourse that bisects the convention hall floor. AKA Retailer Row. And in an effort to capitalize on this increased activity, we’ve relocated our booth to this burgeoning new hot spot!

Planning To Attend The Convention?

By all means, drop by booth #1127 and say hi! The floor plan below shows exactly where you can find us (click on the image to enlarge).

CBM’s industry-leading retail leasing + property management team will be onsite to meet and greet all comers.

We hope to see you there!

[Click to Enlarge]


5334 Torrance Boulevard, Torrance, CA

Centers Business Management (CBM) leasing agent, Aaron Guido, recently completed a lease transaction representing the landlord and tenant, Rejuvenation Services, Inc, on a 2,240 SQFT office space. The unit is in a mid-block, 3-story office building on Torrance Boulevard, just west of Palos Verde Boulevard. Directly across from the building is a sprawling, newly constructed Providence Medical Center location stretching a full block along Torrance Boulevard.


9600 Bolsa Avenue, Westminster, CA

Centers Business Management (CBM) leasing agent, Michael Nitti, recently completed a lease transaction representing the tenant, a local Asian hot pot restaurant, on a 1,999 SQFT retail space. The unit is in a sprawling multi-building, 2-story shopping center that stretches a full block along Bolsa Avenue, between Bushard and Pagoda in prime Westminster. In addition to the Wells Fargo anchor tenant, the center hosts scores of restaurant and service-based businesses.


18547 Western Avenue, Torrance, CA

Centers Business Management (CBM) leasing agent, Aaron Guido, recently completed a lease transaction representing the landlord and tenant, 7 Leaves Cafe, a local café establishment on a 1,675 SQFT retail space. The unit is situated in a corner strip center at the intersection of Western Avenue and 186th Street. A well-maintained property with excellent curb appeal, the newer center’s co-tenants include State Farm Insurance, Select Personnel Services, and a dental clinic, along with ramen, sushi, and several Japanese restaurants.


702 N. Lake Avenue, Pasadena, CA

Centers Business Management (CBM) leasing agent, Barry Bussiere, recently completed a lease transaction representing the landlord and tenant, Cricket Wireless, on a 2,000 SQFT retail space. The unit is in a neighborhood shopping center at the intersection of Lake and Orange Grove in prime Pasadena. Situated on a bustling retail intersection, the 7-Eleven anchored center is situated across for Walgreens and Goodwill.


14560 Nordhoff Street, Panorama City, CA

Centers Business Management (CBM) property manager, Tina Flor, recently completed a lease transaction representing the landlord and tenant in a deal with a local Mexican restaurant, on a 1,190 SQFT retail space. The unit is in a community center at the signalized intersection of Nordhoff and Van Ness in prime Panorama City. A bustling, sizable, well-patronized community shopping center, the property’s notable co-tenants include Walmart Neighborhood, O’Reilly Auto Parts, Cricket Wireless, Metro PCS, Yogurt, Pizza Hut, Waba Grill, Wing Stop, Fast Auto Loan, Liberty Tax, and Freeway Insurance.


8445 Sunland Avenue, Sun Valley, CA

Centers Business Management (CBM) property manager, Tina Flor, recently completed a lease transaction representing the landlord and tenant, a local coin laundry, on a 1,500 retail space. The unit is in a mid-block neighborhood shopping center on Sunland Avenue, just north of the 5 freeway in prime Sun Valley. In addition to the 7-Eleven anchor, the busy center’s co-tenants include a Salvadorian restaurant, hair salon, and vape shop.


14136 Brookhurst Street, Garden Grove, CA

Centers Business Management (CBM) leasing agents, Geoff Grossman + Michael Nitti, recently completed a lease transaction representing the landlord and tenant, Allstate Insurance, on a 1,022 SQFT retail space. The unit is in a sizable, 2-story shopping center at Brookhurst Street + 15th Street in prime Garden Grove. Uniquely located, the property is situated along a busy retail corridor, featuring countless A+ retailers, and immediately adjacent to a densely populated residential neighborhood.


654 Redondo Avenue, Long 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 and tenant, Cricket Wireless, on an 825 SQFT retail unit. The property is at the intersection of Redondo Avenue and 6th Street in prime Long Beach. In addition to Smart & Final and Petco Unleashed, which is positioned on the center’s hard corner, the property’s notable co-tenants include Subway, Waba Grill, Royal Cleaners, and more.