Coreland Companies Lands 5 New Retail Management Assignments Totaling Over 1 Million SF — Another Outstanding Quarter for Coreland

TUSTIN, CA – Coreland Companies of Tustin, Calif., one of the largest privately held real estate service companies based in California, announced that it was awarded five new retail management assignments in Southern California totaling more than one million square feet during the third quarter of 2005 including Mountaingate Village in Simi Valley, Downey Landing in Downey, Village Walk in Murrieta, Van Buren Plaza in Riverside and Main Street Village in Corona.

"We’re very pleased to have been selected for these new management assignments," said Chris Hite, co-founder and president of Coreland Companies. "Coreland Companies continues to exceed our clients' expectations and outperform their goals and objectives by delivering what we say we'll deliver — experience, attention to detail and responsiveness. From pre-development consulting to management and leasing assignments, Coreland delivers!”

Downey Landing is a recently opened 389,000-square-foot shopping center located at the intersection of Lakewood Boulevard and Stewart & Gray in Downey, and is anchored by Best Buy, Old Navy, Marshalls, Ross, Staples, PETsMART, Michaels and Bed Bath & Beyond. Eclipse Development Group of Irvine, CA is the developer.

Village Walk is a new 328,000-square-foot shopping center currently under development at the northwest corner of Interstate 15 and Kalmia Street in Murrieta. Village Walk includes Babies “R” Us, Bed Bath & Beyond, David’s Bridal, Famous Footwear, Lakeshore Learning, Levitz Furniture, Office Depot, Petco and Sportmart, plus a number of regional tenants and restaurants. Coreland is currently providing pre-development consulting and has been retained for property management by owners, Rancon Commercial of Murrieta and The Arthur Pearlman Corporation of Santa Monica, CA.

Mountaingate Village is a 222,000-square-foot shopping center located at First Street and Los Angeles Avenue in Simi Valley and is anchored by RiteAid, 99 Cents Only, Valley Produce, Big 5 and Bally Total Fitness. Coreland has been hired to manage the shopping center and complete the cosmetic renovation. Scanlan Kemper Bard Cos. of Portland, OR is the owner.

Van Buren Plaza is a 93,956-square-foot shopping center located at 5600-5750 Van Buren Boulevard in Riverside, and is undergoing a significant renovation and retenanting effort. Van Buren Plaza is anchored by Dollar Tree and Payless ShoeSource and owned by Kensington Real Estate Group of Tustin.

Main Street Village is a newly developed 24,000-square-foot neighborhood center located at 135-265 E. Ontario in Corona and is anchored by Trader Joe’s. The shopping center was developed by Hopkins Real Estate Group of Irvine.

“Our dedicated management professionals are committed to providing the highest level of service to our clients. These new assignments awarded by new and existing clients speak volumes about Coreland’s abilities to provide top-tier property management services to our clients," Hite adds.


About Coreland Companies

Coreland Companies is one of the largest privately held commercial real estate service companies based in California. Founded in 1989, Coreland Companies is the premiere full-service commercial real estate firm specializing in retail, office, and industrial properties throughout the Western United States. For more information, visit www.coreland.com.