CBM’s Retail Shopping Center Management & Leasing Blog

Retail Real Estate News & Trends in Southern California
 

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.


From the youngest to oldest, three veteran CBM team members both celebrated recent birthdays.

David Levcovitch, long-time Encino-based leasing specialist, is well into his 7th decade here on planet Earth. Meanwhile, Jeff Lerner, CBM’s IT manager, has good 40+ years of ground to cover if he ever hopes to catch up with David. And somewhere in between is Ms. Tina Flor, property manager extraordinaire (and that’s all we can reveal about her exact age ;—)

Regardless of their age gap, this fabulous trio came together and celebrated their birthdays with CBM’s entire Encino office. And we have the pix to prove it!

Congrats and happy birthday to David, Tina + Jeff — here’s to many, many more!

[Check out the happening on video here!]


12500 Magnolia Boulevard, Valley Village, CA

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 Asian restaurant, on a 2,535 SQFT retail space. The unit is in a street retail property at the intersection of Magnolia and Whitsett in prime Valley Village. Neighboring tenants also situated on the intersection include Rite Aid Pharmacy and a Pizza Hut / Wing Street drive-thru restaurant.


11230 Garvey Avenue, El Monte, CA

Centers Business Management (CBM) Valley Division Director, Dave O’Connell, recently completed a lease transaction representing the landlord and tenant, a local dental clinic, on a 1,200 SQFT space. The unit is in a sizable, corner retail strip center is at the signalized intersection of Garvey and Peck in prime El Monte. The center features a diverse mix of restaurant and service tenants, including Boost Mobile, and is situated across from a busy 76 Gas Station.


945 W. Pacific Coast Hwy, Wilmington, CA

Centers Business Management (CBM) leasing agent, Jason Ehrenpreis, recently completed a lease transaction representing the landlord and tenant, a local coin laundry operator, on a 2,030 SQFT retail space. The unit is in 7-Eleven anchored strip center at the intersection of Pacific Coast Hwy and Wilmington Boulevard in prime Wilmington. In addition to 7-Eleven, Cricket Wireless also occupies the center. Neighboring tenants also situated on the intersection include a Jack-In-The-Box drive-thru restaurant, an Arco/AmPm gas station + convenience store combination, and an Express gas station.


2944 Cark Drive, Long Beach, CA

Centers Business Management (CBM) leasing agents, Geoff Grossman + Aaron Guido, recently completed a lease transaction representing the landlord and tenant, a local brewery, on a 1,075 SQFT retail space. The unit is an add-on to the 1,248 SQFT space the brewery leased in January of this year. A mid-block strip center, the property is situated on busy Clark Avenue, just east of Spring Street, across from a massive office park that stretches several blocks along Clark Avenue.


1341 E. Cason Street, Long Beach, CA

Centers Business Management (CBM) leasing agent, David Levcovitch, recently completed a lease transaction representing the landlord and tenant, Metro PCS (cell phone sales + service), on 1,200 SQFT retail space. The unit is situated in a mid-block strip center on Carson Street, just west of the signalized intersection at Vera Street in prime Long Beach. Boasting a diverse mix of restaurant and services tenants, the site is positioned in between the K-12 Bethel Baptist Christian School and an EconoLodge motel.


6414 Del Amo Boulevard, Lakewood, CA

Centers Business Management (CBM) leasing agent, Aaron Guido, recently completed a lease transaction representing the landlord in a deal with a dental clinic on a 1,200 SQFT space. The unit is situated in a busy retail strip center is at the intersection of Del Amo and Palo Verde in prime Lakewood. Well-maintained and professionally managed, the recently remodeled center features a diverse tenant mix, including Subway, an optometry clinic, insurance office, pet grooming, escrow company, nail salon, and massage medi-spa. The property is surrounded by a dense, thriving residential neighborhood, which generates a consistent stream of consumer traffic.


The San Fernando Business Journal recently ranked CBM among the 20 top producing retail leasing brokerages in the San Fernando Valley region. To gain further insight into the Valley’s evolving retail landscape, SFBJ staff reporter Michael Asuhenke reached out to Dave O’Connell, CBM’s Valley Division Director, for his perspective on retail real estate in the Valley.

“The Village [Westfield’s Food Hall on Topanga Cayon Boulevard in Canoga Park] has been a transitional project for the San Fernando Valley and has made retail an experience,” O’Connell notes, adding “High-end retail with the right project can really do well in the Valley.”

Mr. O’Connell also underscored how traditional retail strip centers are still thriving, especially in grocery-anchored centers, pointing to recent deals he completed with Western Dental and El Pollo Loco in grocery-anchored properties. Additionally, O’Connell noted restaurants remain in high demand, and outlying areas, such as Santa Clarita and Lancaster, with retail centers that have languished with empty units for years, are seeing vacancy rates drop steadily.

Read the complete article here.


Another ICSC Western Division Conference is in the books!

As always, CBM’s industry-leading retail shopping center leasing + property management team was on hand, meeting with clients and tenants, making contacts with relevant vendors and municipality representatives, and generally taking advantage of the best commercial real estate networking Southern California has to offer.

3,900 Attendees + 237 Exhibitors

Though the show felt slower in than past years, there were over 3,900 attendees registered, and 237 exhibitors hosting booths. These attendees and exhibitors represented a diverse group of commercial real estate professionals, including brokerages, tenants, developers, vendors, and municipalities, all uniting to network, cultivate relationships, and make deals!

The Show Floor’s Tenant Runway Attracted Plenty of Attention

Ever since ICSC introduced the Tenant Runway section to the show floor a few years back, it has become the convention’s busiest locale. And this year was no exception. Countless brokers were relentlessly courting retailers, hawking their wares in a concerted effort to make deals happen.

And Most Importantly For Our Team… DEALS GOT DONE!

Over the years, ICSC has consistently proven to be an excellent deal-making setting. It’s the perfect opportunity to bring landlords and prospective tenants together on neutral ground and hammer out the details underlying potential transactions. And as is the case at nearly every ICSC convention, our leasing team made several big deals happen this year, too!

Another Successful Show

All-in-all, we’re chalking up this year’s ICSC Western Division Conference as a definite success. And if we didn’t connect with you at the show, we hope to catch up with you very soon!