CBM’s Retail Shopping Center Management & Leasing Blog

Retail Real Estate News & Trends in Southern California
 

24372 Vanowen Street, West Hills, CA

Centers Business Management (CBM) leasing agent, David Levcovitch, recently completed a lease transaction representing the landlord and tenant, a local urgent care clinic, on an 800 SQFT retail space. The unit is in a corner strip center at the intersection of Vanowen and Valley Circle in prime West Hills. Situated amid a dense residential neighborhood, the center features a diverse mix of tenants, including Allstate Insurance, Farmers Insurance, dry cleaners, hair salon and more.


13320 Pinney Street, Pacoima, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agents, Zac Ryburn and Brett Mero, recently completed a lease transaction representing the landlord and tenant, a church, on a 7,500 SQFT freestanding retail building. The building is at the corner of Pinney Street and San Fernando Road, just west of the intersection of Van Nuys Boulevard in prime Pacoima.


9077 Whittier Boulevard, Pico Rivera, CA

Centers Business Management (CBM) leasing agent, Geoff Grossman, recently completed a lease transaction representing the landlord and tenant, AT&T Wireless, on a 1,600 SQFT retail space. The unit is in a recently completed strip center on Whittier Boulevard, just east of Rosemead Boulevard in prime Pico Rivera. Situated amid the area’s primary retail district, the Bank of the West Anchored Center is adjacent to several sprawling community shopping centers, including a Target-anchored center that also hosts Chipotle, Bank of America, Metro PCS, Jamba Juice, Menchies frozen yogurt and more.


The entire CBM organization gathered at Guido’s, a lux Italian restaurant on the Los Angeles’ Westside, for our annual holiday party this past Thursday.

What a scene! The team thoroughly enjoying fine dining, a few choice cocktails, and merriment galore! But the group also reflected on the value of our shared experience. And celebrated the collective that makes up CBM’s sum total.

In this review, each attendee took a moment to share a bit about themselves. Their background, what brought them to CBM, how long they’ve been with the firm, and what they’ve appreciated about their tenure here.

And amid many hilarious tales, heartfelt remembrances, and warm regards, a theme emerged. CBM isn’t just a company. Management isn’t just a gang of taskmasters. And our team aren’t just a bunch of employees. We are a family. And collectively, we continually help and support one another. Looking out, lending a hand, and lifting each other up at every turn.

So, with another year in the books, we bid a fond farewell to 2018, and look toward 2019 with great anticipation!


1612 W. Sunset Boulevard, Los Angeles, 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, a dental clinic, on a 1,400 SQFT street retail space. The unit is on Sunset Boulevard just east of Logan Street, in the trendy Northeast Los Angeles neighborhood of Silver Lake. Situated across from a Walgreens and Lassens Natural Foods-anchored shopping center, the site is adjacent to H&R Block and Bank of America, amid a steadily gentrifying community.


140 W. Anaheim Street, Wilmington, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a leasing transaction, representing the landlord and tenant, Baskin Robins, on a 1,300 SQFT retail space. The unit is located in a sizable community shopping center at the signalized intersection of Anaheim and Avalon in prime Wilmington. In addition to El Super, the property features a diverse mix of notable co-tenants, including Rite Aid, Yoshinoya, Subway, Chase Bank, Wingstop, Cricket Wireless, Ace Check Cash Express, and more.


18635 Soledad Canyon, Santa Clarita, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a leasing transaction presenting the landlord and tenant, T-Mobile cell phone sales and service, on a 2,000 SQFT retail space. The unit is located in an expansive shopping center stretching along a full block of Soledad Canyon Road at the intersection of Shangri-La Drive in prime Santa Clarita. Boasting excellent curb appeal, the newer construction property hosts 30+ tenants, including Union Bank, Kumon Tutoring, Domino’s Pizza, Jersey Mike’s Subs, and many more.


13714 Sherman Way, Van Nuys, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agent, Brett Mero, recently completed a lease transaction representing the landlord and tenant, a laundromat, on a 3,068 SQFT retail space. The unit is in well-maintained, McDonald’s anchored corner shopping center at the intersection of Sherman Way and Woodman Avenue in prime Van Nuys. In addition to the anchor tenant, the center hosts a variety of notable co-tenants, including O’Reilly Auto Parts, Subway, Speedy Cash, and situated directly across from a Ralphs supermarket.


After nearly 30 years in the saddle with CBM, veteran property manager Dan Hirsch has decided to hang up his profession and move on to life’s next great adventure!

“I hope to do some traveling, as much as my vision permits,” said Dan, comically squinting his eyes, and adding “But I’ll be available for consulting on as-needed-basis. Though my hourly rate will be fairly steep.”

Dan’s rye comments underscored one of his most celebrated traits, his unflappable sense of humor. In addition to his humor, Dan’s always calm and collected approach has been the hallmark of his lengthy property management career.

These sentiments were echoed by several fellow CBMers who’ve been in the trenches with Dan for many years, including CFO Roger Sur, Controller, Janice Adair, and fellow property managers Pamela Ozell + Roselene White, each of whom lauded Dan’s exceptional wit and even-keeled temperament.

All of CBM wishes Dan the very best after he formally parts ways with the firm this December 31st!


What continues to be one of the biggest thorns in the side of retail real estate?

PARKING REQUIREMENTS

A misguided bureaucratic blight, parking regulations negatively impact retail properties on just about every level.

At one end of the spectrum, you have new retail developments that are forced to dedicate half their construction budget to building towering parking garages or massive subterranean lots.

And at the other end, you have urban strip centers compelled to refuse a whole class of tenants because their use-type will never meet (what often amounts to arbitrary) parking requirements.

Meanwhile, municipalities are laboring under outdated and outmoded urban planning models that fail to take into account seismic shifts in human behavior. Population redistribution, which has brought more residents into urban areas, the expansion of public transportation, the proliferation of ride-sharing services like Uber and Lyft, and scooter rental services like Bird and Lime are all factors mitigating the need for massive parking accommodations. And these shifts demand a reevaluation of traditional parking regulations.

Fortunately, there’s some light at the end of the tunnel. Ever on the cutting-edge of innovation, San Francisco recently announced plans to discard parking requirements and look to innovation to resolve the issue.

The News site Quartz recently published an article that digs into the parking problems facing urban centers and details San Francisco’s plans to revamp its approach to parking.

The question now: Will other densely populated cities, like, say, Los Angeles, follow San Fran’s lead and revise their take on parking regulations?