CBM’s Retail Shopping Center Management & Leasing Blog

Retail Real Estate News & Trends in Southern California
 

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agent, David Guardado, recently completed a lease transaction representing the landlord and tenant, the Department of Social Services, on a 3,834 SQFT office space. The office is situated in Roy Business Park, a busy office park on Palmdale Boulevard, located between 15th Street and 16th Street in Palmdale’s primary commercial district.


Centers Business Management (CBM) Valley Division Director, Dave O’Connell, and leasing agent, David Guardado, recently completed a lease transaction representing the landlord and tenant, a local interior design firm, on an 1,875 SQFT retail space. The street retail corner shop space is lcoated on busy Sherman Way at the intersection of Remmet Avenue in the heart of Canoga Park. The building is situated adjacent to a Farmers Insurance agency and H&R Block tax preparation office, along with a variety of other retail, service and restaurant tenants amid a thriving retail district.


Centers Business Management (CBM) leasing agent, Jason Ehrenpreis, recently completed a lease transaction representing the landlord in deal with House of Grill, a local restaurant, on a 1,660 SQFT retail space. The unit is situated in a well-patronized mid-block center on busy Devonshire Street, just east of Balboa Boulevard, in prime Granada Hills. The thriving neighborhood center is positioned between IHOP and a medical office building. The property’s diverse co-tenants include Red Wing work apparel, Supercuts, Pizza Hut, a US Army recruitment center and more.


Centers Business Management (CBM) leasing agents, Brett Mero + David Levcovitch, recently completed a lease transaction representing the landlord and tenant, a local Jewish community organization, on a 1,250 SQFT retail space. The unit is situated in a busy corner strip center at the intersection of Burbank Boulevard and Whitsett Avenue in prime Valley Village. In addition to the 7-Eleven anchor, the diverse co-tenant mix includes Subway, Metro PCS, several popular restaurants and more.


Centers Business Management (CBM) leasing agent, Jason Ehrenpreis, recently completed a lease transaction representing the landlord and tenant, Total Training, an expanding area fitness company specializing in High Intensity Interval Training, on a 3,006 SQFT space. The unit is situated in a mid-block street retail property fronting onto heavily trafficked Newport Boulevard, in the heart of Costa Mesa. The newer, well-maintained property features unique architectural design and outstanding curb appeal. And the center’s co-tenant, Shoe City, a fast-growing athletic shoe retailer, is perfect paring.


Los Angeles, CA – June 2017, Centers Business Management (CBM) proudly rings in its 30th year in business as the firm celebrates its official 30th anniversary.

30 years ago, this month, Centers Business Management (CBM) was launched as a third-party management and leasing company. The firm was created specifically to assist strip center landlords and retail property investors with day-to-day management and leasing duties. Shopping centers and retail properties require specialized accounting, tenant relations management, and common area maintenance expertise. All of which can be incredibly time-consuming, not to mention detrimental to a property’s value if handled incorrectly. By assuming responsibility for these tasks, CBM’s mission has long been to minimize the demand on property owners’ time, while at the same time enhancing their property’s value, and maximizing its profit potential. And with thousands of satisfied clients served, CBM has clearly accomplished its mission.

CBM’s heritage? La Mancha Development, the originators of convenience shopping centers and mini-malls, began developing retail properties in 1970. “Through the 70’s and 80’s La Mancha built an average of50 convenience-oriented shopping centers annually. In 1987, with so many new shopping centers completed or in the pipeline, there was a clear need for property management, leasing and sales support,” CBM President, Rick Rivera, says of CBM’s foundation. “To meet that need, ‘The men of La Mancha’ (as Rivera lovingly refers to them), Sam Bachner and Marvin Levine, established Center Business Management (CBM) to manage, lease and sell the 1,400 developments La Mancha would ultimately build,” Rivera continues in CBM’s origin tale.

And some 30 years later, CBM persists. “Despite the ups-and-downs in the real estate market… The savings and loan crash of 1993 … The great recession of 2008… And host of smaller peaks and valleys in between …CBM has not only survived, but thrived,” Rivera says of CBM’s longevity. “And we continue to do so by focusing exclusively on Southern California retail properties. This concentration has enabled us to carved out a niche that’s grown organically over the past three decades, expanding from San Diego to Santa Barbara to San Bernardino and points beyond.”

CBM’s continued success is largely due to the firm’s exceptional staff. “CBM’s team of expert property managers and leasing agents boast an average 15-year tenure, and features some of the shopping center industry’s most savvy + seasoned professionals,” Rivera proclaims in praise of CBM’s roster of commercial real estate veteran. “And over the past 30 years, many of CBM’s clients have come to depend upon the experience + expertise of our talented staff,” Rivera adds, further underscoring the value of CBM staff not only to the firm but CBM’s clients’ continued success.

The retail landscape is undeniably changing. But, as CBM President, Rick Rivera, says: “Our philosophy is simple. You can’t grad a quick meal or get you nails down online.” The steady growth in e-commerce may have changed the type of retailers entering the market. But the demand for retail space hasn’t waned in the least. And that fact alone has CBM confident the firm will be celebrating their 60th anniversary in 2047!

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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Covina, CA – May, 2017, Centers Business Management (CBM) completes new leasing transaction with popular Mexican fast food restaurant chain

CBM Valley Division Director, Dave O’Connell recently completed a new 10-year lease with El Pollo Loco (Mexican fast food restaurant) in a large community shopping center at the intersection of Arrow Hwy and Azusa Avenue in Covina, CA. El Pollo Loco is taking over a 2,500+ SQFT former KFC drive-thru restaurant in a well-patronized, supermarket + discount store co-anchored shopping center. The center’s co-anchors include El Super (supermarket), the area’s primary Hispanic-oriented grocery outlet, and a newly leased Ross Dress For Less off-price retailer. (The Ross Dress for Less lease was also handled by Dave O’Connell.)

El Pollo Loco, a publicly traded company, operates 460 stores in five states, including California, Arizona, Nevada, Utah and Texas. The Covina site was leased by a growing El Pollo Loco franchisee, Peg Lion, LLC. El Pollo Loco corporate is currently seeking franchising partners to continue their Southwestern expansion, which includes opening additional sites throughout Southern California.

“The former KFC drive-thru site is perfect for the Peg Lion franchisees. Much of the restaurant infrastructure and necessary permitting is already in place” says Valley Division Director Dave O’Connell. “And given the area’s primarily Hispanic population, El Pollo Loco is poised for great success at this location,” O’Connell adds.
“El Pollo Loco is clearly and ideal fit for the community,” Says CBM President, Rick Rivera. “And this tenant makes a great addition to the area, which is rapidly becoming an epicenter of retail growth in Covina,” Rivera also says saluting the new restaurants prime location.

For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201 | rickr@cbm1.com or Dave O’Connell 818-380-9966 | dave@cbm1.com.

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Glenoaks Village is a busy neighborhood center…

That’s faithfully served the Sylmar community for over 30 years.

Crime has rarely been an issue in Sylmar, a normally quiet, largely middle-class locale tucked away in the Northeast corner of San Fernando Valley.

And neither crime nor vandalism has EVER been an issue at Glenoaks Village.

Until recently that is…

Two perpetrators have unfortunately targeted the shopping center for vandalism and theft. On repeated occasions, the pair has smashed storefront windows, ripped out surveillance cameras, committed petty theft, and vandalized the site, doing a great deal of property damage.

Frustrated with the situation, CBM Property Manager, Claudia Witt, took action. She contacted the news department at local television station, KTLA, and reported the ongoing vandalism. As a result, KTLA News broadcast a segment highlighting the events at Glenoaks Village, and asking for community help in identifying and apprehending the assailants.

Click here to watch the entire KTLA broadcast.

In addition to lobbying for community help to identify the perpetrators, Ms. Witt noted plans to “add more security” and “lockdown the center, immediately.” The landlord also shared his concern for the mostly “mom & pop” tenants who bear the brunt of property damage and theft committed at their stores.

Bottom Line

If you vandalize or steal from a property CBM manages, we fight back!

 


Covina, CA – May 2017, Centers Business Management (CBM) completes new leasing transaction with nation’s second largest off-price retailer in prime retail district.

CBM Valley Division Director, Dave O’Connell recently completed a new 10-year lease with Ross Stores, Inc (off-price retailer) in a sizable community shopping center at the intersection of Arrow Hwy and Azusa Avenue in Covina, CA. Ross is occupying a 26,000+ SQFT former Office Depot location in a well-patronized, supermarket co-anchored shopping center situated amid a thriving retail district. El Super (supermarket), the center’s co-anchor, is the area’s primary Hispanic-oriented grocery outlet, and generates a consistently high-volume of consumer traffic.

Ross Dress For Less, a publicly traded company (Nasdaq: ROST), is the nation’s second largest “off-price” (discount) retailer, behind only TJ Maxx (whose holdings include sister off-price retailer, Marshalls). Ross, based in Dublin, CA, operates 1,561 stores in 37 states, and is aiming to open another 500 stores over the next five year. Ross’s expansion plans include adding 20+ California locations, to complement the 100+ stores the firm currently operates in the Golden State.

“The city of Covina boast strong population demographics with steady growth. Average annual household income, however, skews toward the lower-end of Southern California market,” says Valley Division Director Dave O’Connell. “And this income range is exactly what Ross is looking for. From Ross’s perspective, households in this economic stratum are consistent discount store shoppers and the target audience for Ross’s goods. Additionally, this space, a former ‘big box’ retail store suits Ross’s site requirements, and minimizes their build-out costs,” O’Connell adds in explanation of Ross’s site selection process.

“Covina is the type of community that has long served as CBM’s ‘bread-and-butter’ in retail leasing,” says CBM President, Rick Rivera. “The city’s population is growing. Household income is rising. But the retail market hasn’t completely exploded yet. Thus, both mom & pop operators, and major national retailers, like Ross, can still lease space affordably,” Rivera adds in praise of Covina’s burgeoning retail market.

For more information about CBM and their retail leasing and property management services, please contact: Rick Rivera 310.575.1517 x201 | rickr@cbm1.com or Dave O’Connell 818-380-9966 | dave@cbm1.com

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