12050-54 West Street, Garden Grove, CA

Centers Business Management (CBM) leasing agent, David Levcovitch, recently completed a lease transaction representing the landlord and tenant, a local coffee shop, on a 2,200 SQFT retail space. The property is on West Street, just east of Chapman in prime Garden Grove. The busy mid-block center features a diverse tenant mix, including mini-market, Zumba dance studio, nail salon, thrift store and more.


CBM is proud to announce Dave O’Connell, Jason Ehrenpreis, and David Levcovitch have earned 2017 CoStar Power Broker Awards.

Thanks to the superlative efforts of these outstanding agents, in addition to the hard work by the rest of our industry-leading retail leasing team, CBM as a whole completed 288 leasing transactions in 2017.

This exceptionally high transaction volume scored CBM yet another firm-wide CoStar Power Broker Award. This latest win marks our 9th consecutive Power Broker Award.

For more details, read CoStar’s 2017 Power Broker Awards recap…


CBM’s own Geoff Grossman penned an article featured in the latest edition of Shopping Center Business – a leading retail real estate trade publication.

In the article, entitled “All Hail The Rise Of The Strip Center,” Mr. Grossman offers his insights on coming trends in the net lease arena. And opines on why now is the best time in history to own strip center retail real estate!

Check out the full article in April issue of Shopping Center Business


Los Angeles, CA – April 2018, Centers Business Management (CBM) takes over management of four retail storefronts on Abbot Kinney Boulevard, near Venice Boulevard, in the prime West Los Angeles community of Venice Beach.

003-5311393-smallCBM recently took charge of property management on a four-unit storefront parcel at 1504-1508 Abbot Kinney Boulevard, one block north of Venice Boulevard, in the heart of Venice Beach. This eclectic neighborhood, a fabulously Bohemian community, is one of West Los Angeles’ most culturally distinctive regions. Home to the famed “Muscle Beach” and ever-popular Venice boardwalk, a long-time favorite tourist destination, Venice now also hosts the headquarters of popular social media app, Snap (formerly Snapchat). Thus, in addition to its tourist appeal, the neighborhood has also evolved into a bedroom community serving the area tech-boom, which has lately seen Venice dubbed “Silicon Beach.”

Abbot Kinney Boulevard serves as the community’s primary retail trade hub, home to countless fashionable boutique retailers, hip cafes, and trendy eateries. The storefronts CBM is now managing hosts four high-end retail outlets, including Aesop, a custom bath, body and skin care product manufacturer; Fiorentini + Baker, an artisan shoemaker that crafts shoes from repurposed vintage goods; Made in Earth, handcrafted jewelry fashioned from crystals and other natural materials; and Satine, a BoHo women’s clothing boutique.

006-5310191-small“Abbot Kinney is unique, in the true sense of the word… The funky-hippie-locals, the new money Snapchat crowd, out-of-town tourists, and everyday Angelenos all coverage on Abbot Kinney,” says Pamela Ozell, senior property manager now overseeing the parcel. “And retail, especially high-end boutiques and upscale cafes, are BOOMING in the midst of this eclectic melting pot! And those are the type of businesses in the parcel I’m now managing,” Ozell adds in reference to Venice’s continuing transformation into an upscale retail hotspot and popular leisure destination.

004-5310193-small“Many of the older, character buildings and shops, which the parcel we now manage represent, have been demolished and replaced with far more contemporary-styled structures,” notes Rick Rivera, CBM President. “But regardless of whether sites host character buildings or modern construction, area rents and property values have SKYROCKETED! Which is a huge boon to landlords and real estate investors alike,” Rivera adds underscoring Venice’s growing appeal among savvy real estate investors.

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


Centers Business Management (CBM) leasing agent, Jason Ehrenpreis, recently completed a lease transaction representing landlord and tenant, a local Boba cafe, on 1,977 SQFT retail space. The end-cap unit is in an exterior food court adjacent to an Edwards Cinemas theater on Mountain Avenue at the 10 Freeway in prime Ontario.


Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a lease transaction representing the landlord and tenant, Warehouse Shoe Sale, on a 7,217 SQFT retail property. The freestanding building as at the intersection of York Boulevard and Avenue 63 in prime Highland Park. The property, situated in the quickly gentrifying and in-demand NELA area, is positioned between a busy Rite Aid drug store and a 99 Cents Only Store, and across from drive-thru Jack-the-Box and Starbucks locations.


Centers Business Management (CBM) property manager, Tina Flor, recently completed a lease transaction representing the landlord and tenant, Little Caesar’s Pizza, on a 1,140 SQFT retail space. The property is on Saviers Road, just south of Bryce Canyon Avenue, in prime Oxnard. The newer, well-maintained neighborhood center features a diverse tenant mix, including Fred Loya Insurance, mini market, nail salon, and more.


Last fall, international toy merchandising giant, Toys ‘R Us, filed for bankruptcy under Chapter 11 protection. The move was intended to give the struggling business “greater flexibility” in dealing with it’s $5 billion in long-term debt.

Then last month, the company announced the intention to close 184 stores, paring down its 700+ locations across the United States. This step was a further effort to clear the financially ailing retailer’s balance sheet in hopes of attracting a would-be investor to bail out the company.

Unfortunately, the bid failed. As a result, Toys ‘R Us has announced plans to close all US-based stores.

The company’s faltering sales are largely attributed to increased competition from eCommerce outlets, chiefly, Amazon. In addition to a strong push among discount retailers, such as Target and Walmart, to capture a larger portion of the toys sales market. An effort that has proven successful, much to the chagrin of Toys ‘R Us.

Toys ‘R Us has offered no immediate timeline for store closures. And no outline for where the process will begin or how it will progress regionally.

The silver lining…

In CoStar’s recent State of The Retail Market presentation, the firm’s economists noted the majority of Toys ‘R Us stores boasts a strong “location score.”

This is a proprietary scoring metric that factors income demographics, the financial health of adjacent retailers, and overall commercial property values to determine a location’s “investment quality.”

And according to CoStar’s data, Toys ‘R Us anchored or occupied shopping centers demonstrate consistently high investment quality.

This indicates that despite the fact that Toys ‘R Us happens to be vacating a center, the property is none-the-less an ideal site for replacement credit tenant.

In other words, a bevy of prime real estate ripe for willing takers is about to open up!

And this is good for…

Landlords:

Yes, many an aggrieved landlord is about to lose a major credit tenant currently occupying a LOT of space in their center. That said, however, there is a sizable pool of strong replacement tenants waiting in the wings.

Tenants:

The shortage of A+ space has been one of the biggest roadblocks to many expanding tenants. Meanwhile, the locations the majority of Toys ‘R Us stores currently occupy are exactly the type of sites most credit tenants salivate over. And more than a few of these locations are about to become available.

Brokers:

There many big deals looming on the horizon ; —)

Thus, despite Toys ‘R Us’ clear misfortune, the situation is by no means a net loss.


Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agent, David Guardado, recently completed a lease transaction representing the landlord and tenant, a local beauty salon, on a 2,243 SQFT retail space. The unit is in a corner neighborhood center at the signalized intersection of Magnolia and Whitsett in prime Valley Village. The center is situated across the street from a Rite Aid drug store and on the corner opposite from a Pizza Hut + Wing Street drive-thru.