CBM’s Retail Shopping Center Management & Leasing Blog

Retail Real Estate News & Trends in Southern California
 

Centers Business Management (CBM) leasing agent, Aaron Guido, recently completed a lease transaction representing landlord and tenant, Live Your Life Fitness, on a 1,650 SQFT retail space. The unit is in Rite Aid anchored community center with excellent curb appeal at the intersection of 2nd Street and Ravena Drive on Naples Island in the extremely affluent Belmont Shores region of Long Beach. The area features a mix of service and restaurant oriented retail amid a densely populated residential area.


Centers Business Management (CBM) leasing agent, Jason Ehrenpreis, recently completed a lease transaction representing the landlord in a deal with Blaze Pizza on a 2,100 SQFT retail space. The unit is in large Home Depot + Sam’s Club anchored community strip center at the intersection of Lone Hill and Gladstone in prime Glendora. The well-patronized center’s additional A+ co-tenants Coco’s restaurant + bakery, Wendy’s drive-thru, Game Stop, Verizon and more.


Centers Business Management (CBM) leasing agent, David Levcovitch, recently completed a lease transaction representing landlord and tenant, a local fitness studio, on a 7,200 SQFT retail space. The unit is in an expansive mid-block community center on Balboa Boulevard in prime Granada Hills. The center features a diverse tenant mix, including Subway, Starbucks, Massage Envy, UPS Store and many more. Additionally, a busy McDonalds Drive-Thru is positioned on a pad space fronting the property.


Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a lease transaction representing landlord and tenant, Everest Burgers, on a 3,200 SQFT retail space. The unit is in a busy community center with excellent curb appeal that begins at Shangri-La Drive and stretches along Soledad Canyon for the equivalent of several city blocks in prime Santa Clarita. The center’s A+ co-tenants include IHOP and UFC Gym among many others.


Centers Business Management (CBM) leasing agent, Barry Bussiere, recently completed a lease transaction representing landlord and tenant, Puebla Tacos, on a 1,112 SQFT retail space. The unit is in a 7-Eleven anchored strip center at the heavily-trafficked intersection of Lake and Orange Grove in prime Pasadena. The center’s additional co-tenants include Cricket Wireless, Little Caesar’s Pizza and more. The property is positioned across Orange Grove from a well-patronized Walgreens Drugstore. The additional corners feature a Goodwill and 76 gas station.


Centers Business Management (CBM) leasing agent, Aaron Guido, recently completed a lease transaction representing landlord and tenant, Neighbors Plus Insurance, on a 900 SQFT retail space. The unit is in neighborhood center at the intersection of Del Amo and Palos Verde in prime Lakewood. The busy center’s co-tenants include Subway, massage therapist, optometrists, pet grooming and more. A heavily trafficked 7-Eleven is positioned across Del Amo, next to another well-patronized corner shopping center. The property is situated amid a densely populated residential neighborhood.


Montclair, CA – October 2017, Centers Business Management (CBM) completes sales transaction with Team HB & Son, LLC on single tenant retail property.

CBM retail specialist, Jason Ehrenpreis, recently completed a sales transaction, representing the seller, Westwood Financial Corporation (WFC), in the sale of a 5,293 SQFT freestanding retail building in prime Montclair, CA. The site is situated at the intersection of Holt Boulevard and Central Avenue amid a thriving retail district. Former a WSS (formerly known as Warehouse Shoe Sale), the property sold for a reported $1,850,000.

The buyer, HB and Son, LLC purchased the property to accommodate the company’s expanding retail clothing and shoe enterprise, a well-established area business with several highly successful locations. The company plans to expand further in the San Gabriel Valley and Inland Empire.

The seller, Westwood Financial Corporation, is a West Los Angeles-based real estate investment firm. The company focuses on grocery-anchored shopping centers, and maintains a portfolio of 115 retail properties, totaling more than 10 million SQFT, in 26 markets across the country.

“$1,850,000 for a 5,293 SQFT building averages out to roughly $350 per foot,” retail specialist, Jason Ehrenpreis, says of the high dollar sale, “Which is an exceptionally high price per square foot for a vacant single tenant property in this market. In fact, it’s nearly double any current comps,” Ehrenpreis adds. “And the former tenant, WSS, relocated to a new center just down the street in a unit that’s nearly three times larger,” Ehrenpreis notes, indicating the former tenant’s departure, motivated by a need for additional space, is a clear sign of Montclair’s steadily strengthening retail market, a growing trend seen in surrounding areas as well.

“It’s no secret commercial real estate sales and leasing took a huge dip throughout the Inland Empire amidst the Great Recession,” says CBM President, Rick Rivera. “But recent sales, Jason’s being a prime example, are unmistakable evidence that this region has not only rebounded, but is again attracting active property investors,” Rivera adds in praise of the Inland Empires continued improvement in the retail property sector.

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

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Centers Business Management (CBM) leasing agents, Jason Ehrenpreis and Jason Ross, recently completed a lease transaction representing landlord and tenant, Metro PCS (cell phones sales and service), on a 1,044 SQFT retail space. The unit is in 7-Eleven anchored corner strip center at the intersection of PCH and Wilmington in prime Wilmington. The busy intersection boasts a variety of successful retailers, including Jack-in-the-Box, Pizza Hut, AmPm gas station, and more.


Centers Business Management (CBM) leasing agent, Jason Ehrenpreis, recently completed a lease transaction representing landlord and tenant, a local Poke restaurant, on a 1,440 SQFT retail space. The unit is in a sizable community center that features several A+ co-tenants, including Sams Club, Home Depot, Home Goods, Kohl’s, Verizon Wireless, and more. The property is situated on busy Lone Hill Avenue in the heart of Glendora’s primary retail trade area.


Centers Business Management (CBM) leasing agents, Geoff Grossman and Jason Ehrenpreis, recently completed a lease transaction representing the landlord and tenant, a local Poke restaurant, on a 1,235 SQFT retail space. The unit is in a well-maintained mid-block strip center anchored by Buddy’s Flooring Outlet. The property’s situated on busy Mountain Avenue in prime Upland.