It’s no secret retail is in the midst of a full-blown sea change…

The industry, as we know, is facing a dying paradigm. The internet has provided a faster, more efficient, and far cheaper outlet for a huge swath of retail sales. Thus, anything and everything that can be sold online has relocated from brick and mortar stores to snazzy new digs in cyberspace.

So, where does this shift leave shopping center landlords?

With the less than enviable task of repositioning and repurposing their properties.

Storm Properties, a partnership with retail real estate holdings in the Inland Empire, is a landlord currently facing this difficult challenge.

Specifically, Storm Properties has struggled to fill space formerly occupied by traditional retail tenants selling durable goods at their Glendora Marketplace shopping center.

The regional center, at Lone Hill Avenue and Gladstone Street in the city of Glendora, is anchored by The Home Depot, Sam’s Club, Kohl’s, Best Buy, AMC Theaters, and other national retailers. Yet despite the presence of these sterling co-tenants, Storm Properties has labored long to fill vacant pad space adjacent to the main buildings.

But with the signing of three new leases — ushering in Blaze Pizza, Fatburger and Saj Bakery — the center is 100% leased!

And Storm Properties attributes this success directly to the efforts of CBM leasing agent, Jason Ehrenpreis. Here’s a quote By Storm Properties President, Jay Ahluwalia, from a recent Associated Press (AP) article praising Mr. Ehrenpreis’ work:

“We’re excited to be 100% leased. In the last year, we have made significant capital improvements to the center, resulting in the tremendous amount of interest received from prospective tenants,” said Jay Ahluwalia, President of Storm Properties. “We want to thank Jason Ehrenpreis of Centers Business Management for acting as the leasing broker for Storm Properties,” Ahluwalia added

Mr. Ehrenpreis posted a banner year in 2018, achieving a new personal best in completed transaction volume. And he was recently part of the Annual ACRE SoCal Real Estate Forecast Panel.

Read the full AP article here…

 


Did you happen to browse last week’s edition of The Los Angeles Business Journal?

Is so, you may have noticed CBM was ranked Los Angeles County’s #1 Retail Property Management Firm in The Los Angeles Business Journal’s annual Book of Lists!

2018 proved a banner year! And as a result, we registered 8.8 million SQFT of retail shopping center space under management in Los Angles County. And 14 million SQFT total under management firm-wide.

With this exceptionally strong showing, we beat out some stiff competition — including CBRE, JLL, NewMark Merrill, Coreland Companies + more! — in the increasingly aggressive retail property management field to claim the top spot.

For more information CBM’s retail property management services, visit our services page at: cbm1.com/services.


MOVIN’ ON UP!

CBM leasing agent, David Guardado, celebrates moving into posh new digs – his very own private office – in our Encino location. Flanked by Dave O’Connell, CBM Valley Division Director + Rick Rivera, CBM President, David is clearly settling in nicely.

David joined CBM in 2011 and has since become one of our top-producing agents. Thus, it only seems fitting David should graduate from a cubicle to a private office :—)

Thanks for your continued exemplary efforts, David. And enjoy the new space!


18635 Soledad Canyon, Santa Clarity, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a leasing transaction presenting the landlord and tenant, a local nail salon, on a 1,097 SQFT retail space. The unit is located in a sprawling shopping center stretching along a full block of Soledad Canyon Road at the intersection of Shangri-La Drive in prime Santa Clarita. The newer construction property boasts excellent curb appeal and hosts 30+ tenants, including Union Bank, Kumon Tutoring, Domino’s Pizza, Jersey Mike’s Subs, and many more.


24372 Vanowen Street, West Hills, CA

Centers Business Management (CBM) leasing agent, David Levcovitch, recently completed a lease transaction representing the landlord and tenant, a local urgent care clinic, on an 800 SQFT retail space. The unit is in a corner strip center at the intersection of Vanowen and Valley Circle in prime West Hills. Situated amid a dense residential neighborhood, the center features a diverse mix of tenants, including Allstate Insurance, Farmers Insurance, dry cleaners, hair salon and more.


13320 Pinney Street, Pacoima, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agents, Zac Ryburn and Brett Mero, recently completed a lease transaction representing the landlord and tenant, a church, on a 7,500 SQFT freestanding retail building. The building is at the corner of Pinney Street and San Fernando Road, just west of the intersection of Van Nuys Boulevard in prime Pacoima.


9077 Whittier Boulevard, Pico Rivera, CA

Centers Business Management (CBM) leasing agent, Geoff Grossman, recently completed a lease transaction representing the landlord and tenant, AT&T Wireless, on a 1,600 SQFT retail space. The unit is in a recently completed strip center on Whittier Boulevard, just east of Rosemead Boulevard in prime Pico Rivera. Situated amid the area’s primary retail district, the Bank of the West Anchored Center is adjacent to several sprawling community shopping centers, including a Target-anchored center that also hosts Chipotle, Bank of America, Metro PCS, Jamba Juice, Menchies frozen yogurt and more.


1612 W. Sunset Boulevard, Los Angeles, 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, a dental clinic, on a 1,400 SQFT street retail space. The unit is on Sunset Boulevard just east of Logan Street, in the trendy Northeast Los Angeles neighborhood of Silver Lake. Situated across from a Walgreens and Lassens Natural Foods-anchored shopping center, the site is adjacent to H&R Block and Bank of America, amid a steadily gentrifying community.


140 W. Anaheim Street, Wilmington, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a leasing transaction, representing the landlord and tenant, Baskin Robins, on a 1,300 SQFT retail space. The unit is located in a sizable community shopping center at the signalized intersection of Anaheim and Avalon in prime Wilmington. In addition to El Super, the property features a diverse mix of notable co-tenants, including Rite Aid, Yoshinoya, Subway, Chase Bank, Wingstop, Cricket Wireless, Ace Check Cash Express, and more.


18635 Soledad Canyon, Santa Clarita, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a leasing transaction presenting the landlord and tenant, T-Mobile cell phone sales and service, on a 2,000 SQFT retail space. The unit is located in an expansive shopping center stretching along a full block of Soledad Canyon Road at the intersection of Shangri-La Drive in prime Santa Clarita. Boasting excellent curb appeal, the newer construction property hosts 30+ tenants, including Union Bank, Kumon Tutoring, Domino’s Pizza, Jersey Mike’s Subs, and many more.