Coreland Companies Negotiates 5 Leases at The Plaza Office/Retail Center in Huntington Beach - Leases valued at more than $2.7 million and includes Starbucks

TUSTIN, CA - Coreland Companies of Tustin, Calif., one of the largest real estate service companies based in California, announced that its leasing / sales division has negotiated five leases at the landmark The Plaza, a 305,000-square-foot office tower/retail center in Huntington Beach, Calif.

As the exclusive leasing agent for The Plaza, Steven Hogberg and Matt Hammond of Coreland Companies negotiated the following leases on behalf of the owner, First Huntington Center, LP.

- Starbucks signed a 5-year lease for 10,850 square feet for a total consideration of approximately $1,070,760. The tenant was represented by Erik Larson of Cushman & Wakefield in Los Angeles.

- Declues and Burkett, LLP, a law firm, signed a 64-month lease for 7,974 square feet for a total consideration of approximately $890,000. The tenant was represented by John Hatzis of Lee & Associates in Orange.

- Countrywide Home Loans signed a 5-year lease for 6,522 square feet for a total consideration of approximately $599,500. The tenant was represented by Travers Realty and TruSite Real Estate Services.

- West Coast Servicing signed a 3-year lease for 1,277 square feet for a total consideration of approximately $79,000. The tenant was represented by Baker Morphy of Trammel Crow in Irvine.

- Earth Friendly Technologies signed a 3-year lease for 1,053 square feet for a total consideration of approximately $69,500. The tenant was represented by Steven Hogberg and Matt Hammond of Coreland Companies.

The Plaza is located at 17011 Beach Boulevard, at the southwest corner of Beach and Warner. The property consists of a 15-story, 205,000-square-foot office tower and approximately 100,000 additional square feet of retail buildings, which is anchored by Bally's Health Club and Regal Cinemas, and encompasses multiple restaurant pads and a multi-tenant retail building. "There are two full floors of the office building that are available for lease including the top 15th floor, which includes a mezzanine with a health club and roof-top helicopter pad," says Coreland's Leasing / Sales Division Vice President Steven Hogberg.

"West Orange County office properties continue to be an increasingly favored location for firms who realize excellent value for their lease dollars along with more favorable commuting to and from Los Angeles. This continued strong leasing activity confirms market vitality and we look forward with high expectations and great enthusiasm to quite a robust 2005," adds Hogberg.

In addition to The Plaza, Coreland Companies' leasing portfolio of mid-rise office buildings includes the nearby One Pacific Plaza in Huntington Beach, a 400,000-square-foot, four building office complex with two restaurants and a 1,500 space parking structure, where leasing activity is also very strong.

Tustin, Calif.-based Coreland Companies is a full-service commercial real estate company with expertise in retail, office and industrial properties. Coreland Companies is one of the largest privately held commercial real estate service companies based in California with a current portfolio exceeding 100 properties and totaling more than 13 million square feet. Coreland Companies is based in Tustin, CA with offices throughout California.