CBM’s Retail Shopping Center Management & Leasing Blog

Retail Real Estate News & Trends in Southern California
 

18639 ½ Ventura Boulevard, Tarzana, CA

Centers Business Management (CBM) leasing agent, Brett Mero, recently completed a lease transaction representing the landlord and tenant, a local hair salon, on a 1,700 SQFT retail space. The unit is in a shop space on busy Ventura Boulevard between Reseda Boulevard and Yolanda Avenue in prime Tarzana. Several newer retail centers surround the site and host a variety of A+ tenants, including Starbucks, Chipotle, European Waxing Center, TJ Maxx, Mac cosmetics, and more.


701 N. Lake Avenue, Pasadena, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a lease transaction representing the landlord and tenant, Goodwill, on a 1,700 SQFT retail space. The unit is in a remodeled corner retail center at the intersection of Lake and Orange Grove in prime Pasadena. Situated on a thriving retail intersection, adjacent corner tenants include 7-Eleven, 76 Gas Station, and Walgreens drugstore.


11703 Moorpark Street, Studio City, CA

Centers Business Management (CBM) leasing agent, Brett Mero, recently completed a lease transaction representing the landlord and tenant, a local martial arts studio, on a 926 SQFT retail space. The unit is in a corner neighborhood strip center at the signalized intersection of Moorpark and Colfax in prime Studio City. In addition to featuring a diverse mix of service and restaurant tenants, the site is also situated adjacent to a mini-mart, an Edible Arrangements location, and a sizable church.


7300 Topanga Canyon Boulevard, CA

Centers Business Management (CBM) leasing agent, David Levcovitch, recently completed a lease transaction representing the landlord and tenant, a local Peruvian restaurant, on an 880 SQFT retail space. The unit is in a corner neighborhood strip center at the intersection of Topanga Canyon Boulevard and Wyandotte Street in prime Canoga Park. Situated along a thriving retail corridor, the center boasts a diverse mix of service and restaurant tenants, including Yoshinoya and Subway. Additionally, the property is next to a busy Jack-In-The-Box drive-thru location.


1133 S. Vermont Avenue, Los Angeles, CA

Centers Business Management (CBM) leasing agent, Matt Saker, recently completed a lease transaction representing the landlord and tenant, a local ice cream shop, on an 880 SQFT retail space. The unit is in a 2-story mid-block retail shopping on Vermont Avenue just south of Olympic Boulevard, near the Pico Union neighborhood of central Los Angeles. A bustling retail center, the property features a diverse mix of service and restaurant tenants.


1364 E. 7th Street, Long Beach, CA

Centers Business Management (CBM) property manager, Pamela Ozell, recently completed a lease transaction representing the landlord and tenant, a local coin laundry, on 3,250 SQFT retail space. The unit is situated on a hard corner pad of a shopping center at the intersection of 7th Street and Nebraska Avenue in prime Long Beach. Anchored by a high-volume sales Grocery Outlet, the property is located amid a dense residential neighborhood, which generates a steady consumer draw.


8314 Pearblossom Hwy, Littlerock, 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, DJ’s Burgers, a local fast food establishment, on a 2,000 SQFT drive-thru restaurant. The restaurant shares the building with Burger King and is positioned behind a Mobile gas station on Pearblossom Hwy in the desert community of Littlerock.


1790 Garvey Avenue, Monterey Park, CA

Centers Business Management (CBM) leasing agents, Aaron Guido + Daniel Barriga, recently completed a lease transaction representing the landlord and tenant, Allstate Insurance, on a 670 SQFT retail space. The unit is in a newer, well maintained retail shopping at the intersection of Garvey Avenue and Casuda Canyon Drive in prime Monterey Park. Boasting excellent curb appeal, the center’s diverse tenant mix includes Mathnasium, a hair salon, message medi-spa, Asian restaurant, and a martial arts studio.


CBM Completes Lease with Round Table Pizza in Redondo Beach CVS Anchored Shopping Center

Los Angeles, CA – October 2018, Centers Business Management (CBM) completes new leasing transaction with pizza restaurant franchisee in remodeled Redondo Beach retail center.

CBM Valley Division Director, Dave O’Connell, and leasing agent, Zac Ryburn, recently completed a lease transaction, representing the landlord in a deal with Round Table Pizza on 1,400 SQFT unit in Riviera Pacific Shopping Center. The property is situated on heavily trafficked Pacific Coast Hwy, a thriving retail corridor just southeast of Palos Verdes Boulevard, in the heart of Redondo Beach. In addition to its CVS anchor, the center’s notable co-tenants include Corner Bakery Café, Subway, Supercuts, Handel’s Cakes, a popular area Thai restaurant, Thai Yum, Marithmetic tutoring, and more.

Round Table Pizza is a popular pizza parlor chain operating in the Western United States. Founded in Menlo Park, CA in the late 1950s, Round Table now hosts 500+ mostly franchisee-owned locations. The sites are spread out over seven states, including Alaska, Arizona, California, Hawaii, Nevada, Oregon, and Washington. Store formats include the traditional sit-down dining experience; the more recent Clubhouse setting, which incorporates an arcade and children’s entertainment features; Wings Brew, designed as a sport bar which serves a variety of chicken wings; and their latest configuration, the quick-serve take-out shop, which includes a dining area offering limited customer seating. This smaller, take-out shop format is the type now occupying Riviera Pacific Shopping Center. Additionally, Round Table is currently focused on expanding their smaller format store-base and actively seeking sites throughout Southern California.
A deal nearly a year in the making “almost didn’t happen,” says CBM leasing agent Zac Ryburn: “At the 11th hour, the franchisee initially approved for the location ran into some financial complications and was forced to back out.” Ryburn, and his partner, Dave O’Connell, worked closely with Round Table’s corporate management, and Round Table was able to quickly install an alternative franchisee and worked tirelessly to shepherd the replacement tenant through the qualifying and approval process. “I can’t praise Round Table’s corporate leadership enough for their persistence in getting this deal done,” adds Ryburn complimenting Round Table’s swift and decisive action to rescue the transaction from impending disaster.

Securing parking approval from the city also proved a challenge at the center. “Round Table had planned to have a slightly larger dining area than the previous tenant, and hoped to add 5-6 four-top tables,” Ryburn notes, “but the center was originally constructed in 1964, and as is typical of properties from that era, the center is technically under-parked.” But using a 2016 parking study, Ryburn was able to work with the franchisee and the City of Redondo to circumvent this obstacle. “I counted the parking spaces technically allotted to each tenant, and based on the 2016 parking study data, we determined that even with increased seating, the space would actually be under its parking allotment,” relates Ryburn. “This allowed Round Table to rearrange the unit’s (very limited) dining area layout and accommodate the additional seating in their initial plans,” Ryburn adds.

“This lease marks the third deal we’ve completed at this location in the last several months,” says Valley Division Director, Dave O’Connell. “Though by no means a new property, the site boasts exceptional curb appeal thanks to extensive remodeling. And that, combined with a highly desirable location, has attracted several outstanding tenants to the center,” O’Connell adds in reference to Birds Unlimited, the national bird feed and pet supply chain, and the martial arts studio he and Ryburn installed in the center earlier this year. “Fortunately, neither of the prior deals were quite as complicated or as long in coming as Round Table,” notes with a hint of exasperation at the 12-month odyssey he and Ryburn endured in completing this protracted transaction.

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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2207 S. San Fernando Road, Los Angeles, CA

Centers Business Management (CBM) leasing agent, Matt Saker, recently completed a lease transaction representing the landlord in a deal with a local barbeque restaurant, on a 1,670 SQFT retail space. The unit is in a 7-Eleven anchored neighborhood shopping center positioned on an island pad bounded San Fernando Road, Verdugo Road, Cypress Avenue, and Cazador Street in prime Northeast Los Angeles. Just south of Glassell Park, the property is situated amid one of greater Los Angeles most quickly gentrifying and highly desirable neighborhoods.