Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agents, Brett Mero + Zac Ryburn, recently completed a lease transaction representing the landlord in a deal with Boba Time, on a 1,800 SQFT retail space. The unit is situated on the ground floor of several hundred-unit apartment complex at Plummer and Corbin in Northridge, near Cal State Northridge University. The newer, attractively designed mixed use development features A+ co-tenants, including The Stand (restaurant), Serious Cycling and Optometrics (optometry clinic).
Centers Business Management (CBM) leasing agents, Aaron Guido + Jason Ross, recently completed a lease transaction representing the landlord and tenant, California Children’s Academy, a daycare center, on a 2,000 SQFT street retail space. The property is situated on Long Beach Boulevard, between 16th Street and 17th Street, in prime Long Beach. The site is positioned across to the street from Colegio New City School and Long Beach Charter High School.
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 local cross fit gym, on a 1,800 SQFT retail space. The unit is situated in a mid-block strip center on Hollenbeck Avenue, just east of Arrow Hwy, in prime Covina.
Centers Business Management (CBM) leasing agent, Barry Bussiere, recently completed a lease transaction representing the landlord and tenant, 1 Stop Wireless, an expanding cell phone sales + service provider, on a 1,200 SQFT retail space. The unit is situated in 7-Eleven anchored corner strip center at the intersection of Lincoln and Denni in prime Cypress.
Centers Business Management (CBM) Valley Leasing Director, Dave O’Connell, recently completed a lease transaction representing the landlord in a deal with US Renal Care Dialysis Center on a 5,000 SQFT retail space. The unit is situated in large, a regional shopping center on Los Angeles Avenue, between First and Erringer, in prime Simi Valley. The heavily-trafficked center is anchored by Vallarta Supermarket and Simi Valley 10 Cinemas, both strong consumer draws.
Centers Business Management (CBM) property manager, Pamela Ozell, recently completed a lease transaction representing landlord and tenant, Boost Mobile, an expanding cell phone sales + service provider, on a 900 SQFT space. The unit is situated in sizeable community shopping center at the intersection of Rosecrans and Studebaker in prime Norwalk. The newer, well-maintained property features A+ co-tenants, including McDonalds, Starbucks, Sketchers, Little Caesars Pizza, and Rent-a-Center.
Recent CBM leasing transaction featured in the July 24, 2017 edition of the Los Angeles Business Journal…
CBM leasing agent, Jason Ehrenpreis, recently completed a new 5-year lease with Bassett Beauty Solutions, an expanding beauty supply retailer. The tenant is occuping a 1,040 SQFT unit in a shopping center at the intersection of Santa Monica + Crescent Heights in West Hollywood.
Northridge, CA – July 2017, Centers Business Management (CBM) completes new ground leasing transaction with expanding East Coast-based donut shop franchise.
CBM leasing agent + property manager, Eric Kalfa, recently completed a new 10-year ground lease with Dunkin Donuts (an East Coast based donut shop franchise currently pursuing massive West Coast expansion) in a freestanding retail building at the intersection of Reseda Boulevard and Vincennes Street in Northridge, CA. The Dunkin Donuts shop, leased by franchisees, Madison Food Management, will occupy a completely remodeled 2,900 SQFT store adjacent to the Cal State Northridge campus and the Valley Performing Arts Center. Additionally, the new location just celebrated its official grand opening!
Dunkin Donuts, a publicly traded company (NASDAQ: DNKN,) operates 11,000 stores worldwide, and 7,700 in the US. This East Coast-based chain began its California expansion in 2014 and has since open highly successful Southern California stores in Long Beach, Santa Monica, Hollywood and East LA’s Atwater Village. Dunkin plans to open 1,000 stores in California over the next decade, including 200+ in SoCal. And many of those locations will be launched with franchising partners, like Madison Food Management, a successful Los Angeles area fast food franchising enterprise.
“When I took over as property manager of the site, it was car stereo installation business, and clearly not the property’s highest and best use, ” says Encino leasing agent + property manager, Eric Kalfa. “When the car stereo tenant’s lease expired, I convinced the landlord to bring the site to market, which prompted multiple offers. Popeye’s [chicken], Coffee Bean & Tea Leaf, and Dunkin Donuts were all clamoring for the site and each submitted a strong offer,” Kalfa notes in reference to the property’s high demand, driven largely by its proximity to nearby Cal State Northridge University.
The landlord also had a unique stipulation in this deal, requesting the property be let on ground lease. “Negotiating and drafting ground leases is a complicated and tricky process. And not many leasing agents possess the knowledge and expertise to make this kind of deal happen,” Kalfa adds regarding the difficulty in structuring ground lease transactions.
“Dunkin Donuts has promised massive expansion, and we hope this, in addition to another site we leased to Dunkin at Glendale and Glenhurst in Atwater Village, are just the first of many deals wit the company and its franchisees,” Says CBM President, Rick Rivera. “And considering many of the shopping center and street retail sites CBM represents are an ideal fit for Dunkin, we’re confident that will happen,” Rivera notes in anticipation of completing future transactions with the expansion-minded Dunkin Donuts.
For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201 | firstname.lastname@example.org.
As most of you already know, this year’s ICSC Western Division Conferences will be held at the LA Convention Center in Downtown Los Angeles.
Bye-bye San Diego, it was TOO fun while it lasted! But alas, things change…
And this is a pretty big change… New city… New venue… New bars + party spots ;—)…
But one thing HAS NOT changed… Our outstanding location on the convention floor!
As convention hall floor plan above illustrates, we’re positioned on a prime end-cap at one the convention’s main entrances == > Booth 1003
The event doesn’t arrive until October 2nd, and there will be more updates to follow. But we just wanted to let you in on the good news!
Costa Mesa, CA – July 2017, Centers Business Management (CBM) completes new leasing transaction with expanding area fitness training studio.
CBM leasing agent, Jason Ehrenpreis, recently completed a new 8-year lease with Total Training fitness studio in a street retail property on busy Newport Boulevard in Costa Mesa, CA. Total Training is occupying a 3,006 SQFT space in an architecturally distinct building that also currently hosts Shoe City, a successful alethic shoe store chain.
Total Training is an Orange County, CA based fitness training business. Total Training’s signature product is “High-Intensity Interval Training” (H.I.I.T). This is a specialized, highly focused form of cross training. The company currently operates two fitness studios — their first in Laguna Hills, and their new location in Costa Mesa.
“This is a great location, with tons of visibility, right off the 55 Freeway in prime Costa Mesa,” says Jason Ehrenpreis of the property’s impeccable positioning. “And the co-tenancy with Shoe City, which is rapidly expanding in SoCal, is a perfect fit. Physical training + athletic shoes – It’s ‘can’t miss’ pairing!” Ehrenpreis adds extolling the virtues of the Total Training’s precision synergy with existing tenant, Shoe City.
“Gyms, fitness studios and personal training are all thriving retail uses currently. And we’re seeing more and more deals with tenant-type” says CBM President, Rick Rivera. “And the rising deal volume in the fitness trade is unsurprising considering that exercise and personal training is NOT something you can ‘buy online,’” Rivera adds noting retail real estate’s continued shift toward services oriented businesses.
For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201.