Struggling to fill vacancies in your shopping center?

Then it’s probably a good idea to know the most active tenants in your marketplace.

But how do you access that kind of data? LoopNet tells you what is for lease, but not who is leasing what. CoStar offers that type of data, but they charge EXORBITANT rates for access privileges. And tack on additional fees for every added feature.

So if you’re like most independent retail property landlords, such tools out of your reach.

Well Here’s Some Good News!

CBM completed nearly 400 deals last year in Los Angeles and Orange County, a pace we’ve maintained over the last half decade. Our 2015 completed transaction list offers a clear image of the most active Los Angeles and Orange County retail tenants.

Here’s breakdown of CBM’s completed leasing transactions organized by tenant type and usage…

Total Restaurants & Food Users: 54

restaurant

Restaurant and food users were by far our most active individual retail tenant category. Here’s a further breakdown by type and usage:

Restaurants By Type

  • Mexican (14)
  • Asian (11)
  • Cafés, Bakeries & Donut Shops (7)
  • Ice Cream, Frozen Yogurt & Candy Shops (7)
  • Takeout Pizza (5)
  • Juice Smoothies & Boba (3)

Credit Restaurant Tenants

  • Waba Grill (6)
  • The Stand
  • Subway
  • Little Caesar’s Pizza
  • Domino’s Pizza
  • Baskin & Robbins
  • Wienerschintzel
  • Starbucks
  • Dunkin Donuts

Total Retail Office Users: 75

Technically there are more retail office tenants than restaurant and food use tenants. Retail office tenants, however, represent a broad and diverse range of businesses. Here’s a further break down by business type:

Total General Office Space: 19

davita_dialysis-large

Total Medical Offices: 17

  • Dental (2)
  • Acupuncture (1)
  • Pharmacy (1)
  • Physical Therapy (1)
  • Medical Billing (1)
  • Hospice Care (1)
  • Speech Therapy (1)
  • In-Home Health Care (1)

Credit Tenants

  • Concentra Health (1)
  • Allied Health (1)
  • Community Health Alliance (1)
  • DaVita Dialysis Center (1)
  • Total Insurance: 15
  • State Farm (3)
  • Farmers (1)
  • Adriana’s (1)

Total Auto Title Loans: 8

TitleMax-Savannah-GA-3-Title-Loans
  • Title Max (6)
  • Fast Auto (2)

Total Tax Prep Offices: 6

  • Liberty Tax (1)
  • H&R Block (1)
  • Jackson Hewitt (1)

Total Banks: 5

  • Wells Fargo (1)

MISC Retail Office Tenants: 11

  • Staffing & Employment Agencies (5)
  • Real Estate & Mortgage (2)
  • Law Offices (3)
  • Construction Office (1)

Personal Services

Total Hair Salons, Barber Shops, Nail Salons & Eyebrow Threading: 22

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Hair and nail salons are the largest personal service tenant. Here’s a further breakdown by service type:

  • Hair Salons (16)
  • Barber Shops (6)
  • Nail Salons (8)
  • Total Eyebrow Threading (6)

Total Massage: 9

Massage is the second largest personal service tenant. Here’s a further breakdown by massage type:

  • General massage (8)
  • Foot massage (1)

Coin Laundry: 6

A row of industrial washing machines in a public laundromat.

Coin laundries are the third largest personal service tenant.

Check Cashing, Payday Loans & Pawn Brokers: 5

Financial services are the fourth largest personal services tenant.

Dry Cleaners: 4

Dry cleaners are the fifth largest personal service tenant (tied with dance, yoga and martial arts studios).

Dance, Yoga & Martial Arts Studios: 4

Dance, yoga and martial arts studios were tied with dry cleaners as the fifth largest personal service tenant.

Tutoring: 2

Tutoring was the sixth largest personal service tenant type. Here’s a further breakdown by provider type:

  • Kumon Learning Center (1)
  • Mathnasium (1)

Retail Sales

Total Cell Phone Sales & Service: 27

Cricket-Store

Cell Phone Sales and Service tenants are the largest retail sales tenant. Here’s a further breakdown by provider:

  • Cricket (14)
  • Metro PCS
  • (7)Sprint (3)
  • T-Mobile (3)
  • Verizon (1)

Total Tobacco Shop & Vape/E-Cig Sales: 9

Tobacco and Vape + E-Cig shops are the second largest category in retail sales. Here’s a further breakdown by store type:

  • Tobacco Shops (6)
  • Vape & E-Cigs (3)

Mattress Stores: 6

Mattress store are the third largest retail sales tenant.

Total Convenience Stores & Mini Markets: 5

7-eleven-store_640_1

Convenience stores are the forth largest retail sales tenant (tied with clothing stores). Here’s a further breakdown by retailer:

  • 7-Eleven (1)

Total Clothing: 5

Clothing stores are tied with convenience stores as the forth largest retail sales tenant.

Total Thrift & Discount Stores: 3

Discount stores are the fifth largest retail tenant. Here’s a further breakdown be retailer:

  • Salvation Army (1)

Video games: 3

Video games sales were the fifth largest retail sales tenant. Here’s a further breakdown by retailer:

  • Game Stop (1)

CBM’s Retail Leasing Team Has a Finger on the Pulse of Los Angeles and Orange County Retail Markets.

If you really want to fill your vacancies quickly and efficiently, with tenants ideally suited your property, hiring a competent leasing broker is critical.

And as the list above shows, CBM’s leasing team gets a LOT of deals done. And our leasing agents have strong relationships with the most active SoCal retail tenants. In short, our leasing team has their fingers on the pulse of the marketplace.

Hire CBM to Lease Your Shopping Center

To find out more about CBM’s leasing or hire CBM to lease your property, visit our Services page for more details and contact info.


By LA Times, Thursday, November 12, 2015

Haggen bankruptcy is a buying opportunity for Smart & Final, other grocers

The misfortunes of Haggen Inc. spell opportunity for several rival grocers.

Remnants of the Northwest chain, which underwent an ill-fated expansion this year, will be parceled out by a bankruptcy judge to bidders in the next few days.

The 18-store Haggen operation had bought and begun rebranding 146 Albertsons, Vons, Pavilions and Safeway locations, which regulators had ordered sold as part of the merger between Safeway and Albertsons. After failing to entice shoppers, the company filed for bankruptcy protection in September and closed all but 37 stores in Washington and Oregon.

Several supermarket chains have put in bids on the stores in California, Arizona and Nevada. They include high-end grocer Gelson’s, for eight stores, and Sprouts, for four locations, according to court documents. Even Albertsons has bid on 36 stores.

Not all Haggen shops have bidders, and some may eventually end up subdivided into smaller storefronts for other businesses.

Haggen’s retreat represents a prime chance for other grocers to expand in Southern California’s ultra-competitive supermarket industry, analysts said.

View Original Article…


By Bisnow, Thursday, November 12, 2015

Report: How California’s Business Climate Cost it 9,000 Businesses

A new study claims as many as 9,000 California businesses likely moved or expanded outside of the state in the past seven years.

Companies moved elsewhere (particularly Texas) to capitalize on cost savings and improve their prospects for growth. The total number is based on 1,510 California companies that moved or expanded operations outside of the state from 2008 to 2014, citing expert opinion that for every one public move there are at least five that aren’t public knowledge. Numbers in the report from Spectrum Location Solutions, a site-selection company based in Irvine, are based on public information about those 1,510 moves.

The study did not count when companies opened in a new location to take advantage of new markets, but rather focused on those moves made based on California’s business environment. Toyota, for example, will relocate its North American headquarters from Torrance to a consolidated site in Plano, TX.

The report quotes statistics showing California had 170 large facilities open in 2014, putting it 12th in the nation. Texas had 689 large facilities open that year. After Texas, companies were likely to move to Nevada, Arizona, Colorado, Washington and Oregon. Beyond those states, other top relocation sites were in the Southeast. Los Angeles County had the most companies that moved or expanded elsewhere, followed by Orange, Santa Clara, San Francisco, San Diego and Alameda counties.

View Original Article…


By CNBC, Friday, October 30, 2015

Investor Burkle’s Fresh & Easy grocery chain files for bankruptcy

Oct 30 (Reuters) – Fresh & Easy filed its second bankruptcy in two years on Friday after billionaire Ron Burkle was unable to turn around the West Coast grocery chain, which is in the process of closing down.

Burkle’s Yucaipa Cos investment firm agreed to acquire more than 150 Fresh & Easy stores out of the chain’s 2013 bankruptcy.

British grocer Tesco Plc launched Fresh & Easy in 2006 with many industry analysts expecting the deep-pocketed company to challenge the dominance of Wal-Mart Stores Inc . However, the poorly timed move centered on the U.S. Southwest just as the region’s overheated housing market was slumping.

Tesco provided Yucaipa with $120 million to help fund the acquisition.

Fresh & Easy’s website on Friday was topped with a banner proclaiming “Everything must go!” and “All Stores Closing!”

The El Segundo, California-based company said in papers filed in U.S. Bankruptcy Court in Wilmington, Delaware, that it had between $100 million and $500 million in liabilities, and less than $50 million in assets.

Yucaipa also owned a stake in the Northeast supermarket chain Great Atlantic & Pacific Tea Co Inc, better known as A&P, which filed for bankruptcy in July.

Fresh & Easy’s closure coincides with the recent bankruptcy of rival grocer Haggen Holdings, which fumbled an ambitious expansion into the U.S. Southwest.

Haggen agreed in January to acquire 146 supermarkets from the much-larger Albertsons chain, which was required to divest the stores to merge with Safeway. At the time, Haggen had only 18 stores in its Pacific Northwest stronghold.

Haggen is selling stores in southern California and Nevada with initial bids from Smart & Final and regional upscale supermarket chain Gelson’s.

View original article… 


By LA Times, Tuesday, November 3, 2015

Whole Foods opening downtown at 8th and Grand, with Roy Choi’s Chego

First of all, it’s big. The new Whole Foods market opening Wednesday in downtown Los Angeles is a bright and sprawling 41,000 square feet, with a cavernous 170-spot parking garage underneath the Eighth & Grand apartment complex.

At a preview Monday night, Whole Foods honchos revealed their first store in downtown Los Angeles. And this one is not the same-old, same-old.

It includes a restaurant and bar called the Eight Bar, with 220 seats both inside and out, trendy tall communal tables and a menu that will change four times a year with the seasons. Behind the bar is a lineup of 36 beverages on tap, including local craft beer, kombucha and root beer. Wines by the glass include five higher-end choices dispensed via the Coravin system of wine preservation.

But the big news is Roy Choi. The Kogi founder’s restaurant Chego will be part of the prepared foods area. Choi said he’s excited about bringing his rice bowl concept to a new market.

“It’s the first time Whole Foods has reached out to a small local business like ours,” Choi said. “Everything will be organic and priced pretty much the same as at the Chinatown Chego. It’s a totally fresh take on the build-your-own concept.”

View original artcile…


By Globe St. Friday, April 24, 2015

Net Lease Properties: Evidence of a Shift in Quality

It is no secret cap rates for net lease properties, and investment real estate in general, have compressed dramatically in the last few years. This trend is especially pronounced for properties with investment grade tenants and long lease terms which are trading at all time low cap rates.

With voracious demand, however, comes the question of supply. The inventory for high quality net lease properties is falling. While development is picking up, it has yet to have a notable impact on supply. Moreover, properties with shorter lease terms, and overall lower quality, are now being brought to the market to exploit the low cap rate environment.

This trend has a two implications. First, it means going forward buyers focusing exclusively on high quality net lease properties will have to pay a larger premium. Second, it means those searching for yield must shift their focus to riskier assets. Nonetheless, the market is changing and buyer and sellers alike need to adjust their strategies to maximize returns.

View original article…


dunkin donuts long beachBy Press-Telegram, Tuesday, December 10, 2014

New Long Beach Dunkin’ Donuts draws a crowd

LONG BEACH>> Dunkin’ Donuts return to California continued this morning as dozens awoke before dawn to line up outside the chain’s new store to either taste an old favorite or find out what all the fuss is about.

“They go back all the way to my early childhood,” said Glenn Ferdinand, 49, of Long Beach. “My mom worked at Dunkin’ Donuts when I was a kid. Dunkin’ Donuts is part of my life.”

Ferdinand grew up in the Dorchester neighborhood of Boston, and dressed for the occasion of the new store’s opening in a pullover Red Sox jacket.

“This is the first stop when I travel home. This is the first stop for me,” he said while he waited for a large “regular” cup of coffee and a “honey-dipped” doughnut, which is known on this side of the country as a glazed doughnut.

Long Beach’s new Dunkin’ Donuts opened at 5 this morning near the 7th Street-Pacific Coast Highway intersection. Another shop also was scheduled to open today in Whittier.

In Long Beach, the doughnut chain’s opening attracted a steady stream of drive-thru and walk-in customers. Some of those who stood in line said they arrived about an hour before the store’s 5 a.m. opening trying to become one of the first 100 customers who claimed an orange bag of “doughnut swag” that included a coffee cup and voucher for a free cup of caffeinated brew.

View original article…


from SCTWeek, Friday, June 13, 2014

Creativity key to leasing difficult space, panel says

shopping center

Landlords Need to Get Creative to Lease Hard-to-Fill Spaces

The need of many retailers for smaller stores has left some landlords with some awkwardly shaped spots to fill, but owners are rising to the challenge, panelists noted at an SCTLive event in Boston this week, titled “Solutions for Hard-to-Fill Spaces.” Empty big boxes and department stores in particular remain a problem. Panelists recommended recruiting nontraditional users, such as glow-in-the-dark golfing concept GlowGolf, which is taking over anchor spaces and empty big boxes around the U.S., or a children’s swim-oriented concept, like AquaTots Swim Schools or GoldFish Swim School. Such uses may not pay as much rent as the previous tenants, but they can help drive a shopping center’s connection to the community, said Lesley Dokos, who handles retail leasing and development at the Boston office of Edens. “If you’ve got a spot that’s been vacant for years, go out into the community and figure out how to turn the lights on,” she said, pointing to an Edens property in West Hartford, Conn., that teamed up with local parents to put a teen-friendly hangout inside a long-vacant space.

Other panelists were Kenneth Fries, vice president of leasing at Dedham, Mass.–based RK Centers; Douglass E. Karp, executive vice president at Newton, Mass.–based New England Development; and Patrick J. Paladino, Jr., senior vice president of retail at Colliers International’s Boston office.

Local retailers are another good solution, though finding and nurturing good mom-and-pops may require more work than publicly owned landlords are willing to expend. Moreover, dealing with the inevitable failures that result from experimenting with new concepts and ideas can spook Wall Street investors and institutional lenders, said Paladino. “Sometimes for owners it’s better to have a vacancy than a loss,” he said. When bringing mom-and-pops into retail centers, it is important to provide short-term leases, Paladino suggested. “We do short-term leases, because we don’t want to set anybody up for failure.” It also helps to give first-time retailers a short-form lease so as not to intimidate them with 700 pages of fine print, he said.

Panelists agreed that emergency-care medical centers and medical tenants dealing with cosmetics are good solutions, but call centers and pop-up shops are not. Call centers are taking up less real estate than some had predicted in recent years, and they require extra security but do not draw traffic to a shopping center, panelists said. It is virtually impossible, they said, to attract a pop-up shop to a troubled space, as those tenants always want maximum visibility in prime space.


By Globe St, Tuesday, May 20, 2014

Don’t Overthink It:  Do the Retail Deal

LAS VEGAS—Marcus & Millichap took a major spotlight Monday night at RECon here with the 2014 rendition of its annual Retail Trends report, and like much of the talk at the conference as a whole, the tone was decidedly optimistic.  The panel consisted of Rahul Sehgal, CIO of Inland Private Capital Corp.; Fernando De Leon, managing partner of Leon Capital Group; Michael Phillips, principal, president and CEO of Phillips Edison & Co.; and Ted Frumkin, SVP of business development for Sprouts Farmers Market. On hand as well were Marcus & Millichap senior VP Hessam Nadji and VP Bill Rose, who heads the firm’s national retail group and served as moderator. (Marcus & Millichap is a GlobeSt.com Thought Leader.)

Unlike the hesitation that defined the opening months of the recovery, it’s time again to trust your instincts with the confidence that is returning to the market. “We’re seeing more capital and more cap-rate compression,” said Nadji. “Don’t overthink it. Trust your instincts. It’s a good time to buy and sell.”

The panelists essentially agreed that, in terms of geography, density is a key consideration. But they also warned not to shun locales based on current density alone. Many formerly struggling markets are getting on their feet, and “potential” is a watchword in the new economy. Markets favored by some of the panelists included Texas, Oklahoma and Kansas (Frumkin), and Phoenix and Florida (Sehgal, who also embraced the Texas markets).

Read more…


By Globe St, Monday, May 19, 2014

Large Box Shifts to Smaller Formats

shopping center

Retail Big Boxes Go Small Format

LAS VEGAS—With all the talk about e-commerce and the shifts it has caused in the marketplace, GlobeSt.com recently chatted with Gary Smith, SVP of asset management at Passco Cos., on the subject to get his thoughts.

GlobeSt.com: How is e-commerce creating significant shifts in the retail marketplace and how are you seeing brick-and-mortar retailers respond to stay competitive?

Gary Smith: E-commerce is changing the way we shop. Some large box retailers are beginning to shift to smaller formats, essentially utilizing their brick-and-mortar stores as showcases for their products. Retailers are aware that consumers are using their stores to inspect merchandise, and then utilizing the internet to compare prices.

GlobeSt.com: Can you drill down more on these smaller formats? Are they cutting inventory or showroom space?

Smith: With the smaller formats, retailers are not cutting down on their showroom space but instead, are reducing the amount of inventory they keep on hand. Successful brick-and mortar retailers have embraced technology, instead of trying to combat it.

Read more…