Coreland Companies Completes 6 Retail Lease Transactions Totaling Over 80,000 SF in So. CA

TUSTIN, CA – Coreland Companies of Tustin, Calif., one of the largest real estate service companies based in California, announced that its leasing / sales division recently completed six retail lease transactions in Southern California totaling more than 80,000 square feet.

Superior Super Warehouse and Giant Dollar signed leases at the Crenshaw and Imperial Shopping Center in Inglewood. Superior Super Warehouse signed a 25-year lease for 40,000 square feet for a total consideration of approximately $10,256,568. Superior Super Warehouse, which was represented by Randy Ibarra of Southern Pacific Investments, Inc. of Rosemead, Calif., is anticipated to open in September 2005.

Giant Dollar signed a five-year lease for 10,800 square feet for a total consideration of approximately $977,652. Giant Dollar, which was represented by Ellie Ahn of Venture Commercial Realty of Los Angeles, opened in early June. Crenshaw and Imperial Shopping Center is a 160,281-square-foot neighborhood shopping center located at the intersection of Crenshaw and Imperial Highway in Inglewood. Coreland Companies is the exclusive landlord representative for the Crenshaw and Imperial Shopping Center. Martin Porter and Matt Hammond from Coreland’s Tustin office represented the landlord, One Imperial Plaza, in these lease transactions.

According to Leasing / Sales Division Vice President Steven Hogberg, “These two transactions demonstrate our proactive leasing efforts to immediately re-lease and reposition a soon to be vacant Ralphs building at the Crenshaw and Imperial Shopping Center. We are very pleased to be able to introduce Superior Super Warehouse, a rapidly expanding ethnic grocery chain to the local marketplace.”

Knock Out Riverside, a boxing and fitness club, signed a lease for five years and nine months for 12,006 square feet for a total consideration of approximately $833,212 at Tyler Village in Riverside. Knockout Riverside is expected to open in August, 2005. Tyler Village is located at 10198 Indiana Avenue. Coreland Companies is the exclusive landlord representative for Tyler Village. Fred Godinez, Matt Hammond and Martin Porter from Coreland’s Tustin office represented the landlord, a private investor, in this lease transaction. Godinez also represented the tenant.

“This is yet another example of Coreland’s leasing team successfully securing an exciting, alternative use in a vacant anchor space for our client,” notes Hogberg.

LA Buffet restaurant signed a 10-year lease for 8,442 square feet for a total consideration of approximately $1,776,197 at Rolling Ridge Plaza in Chino Hills. LA Buffet, which is expected to open in the fourth quarter of 2005, was represented by Terry Michaelson of Michaelson Commercial Real Estate in Woodland Hills. Coreland Companies is the exclusive landlord representative for Rolling Ridge Plaza. Matt Hammond from Coreland’s Tustin office represented the landlord, Passco Rolling Ridge Plaza, LLC of Irvine, in this lease transaction. Rolling Ridge Plaza is an 85,575-square-foot neighborhood shopping center anchored by Ralphs and located at 2911 Chino Avenue in the City of Chino Hills.

Fuji Forest USA, signed a 10-year lease for 1,900 square feet for a total consideration of approximately $653,440 at Newport Camino Plaza in Tustin. Fuji Forest, which operates a small chain of Sushi restaurants, is expected to open in the fourth quarter of 2005, and was represented by Noby Tanaka of Coldwell Banker-Alliance Brokers in Whittier. Coreland Companies is the exclusive landlord representative for Newport Camino Plaza. Fred Godinez and Matt Hammond from Coreland’s Tustin office represented the landlord, Bergstroms Childrens Stores of Tustin, in this lease transaction. Newport Camino Plaza is an 18,722-square-foot neighborhood center anchored by Petco and located at 13962-C Newport Boulevard in Tustin.

On Board, Inc., a surf, skate and snow apparel and accessories store, signed a lease for five years and three months for 7,500 square feet for a total consideration of approximately $779,625 at Larwin Square in Tustin. On Board, who has two other locations in Orange County, was represented by Steven Hogberg of Coreland Companies. The landlord, Pan Pacific Retail Properties of Tustin, represented itself. Larwin Square, a 210,000-square-foot neighborhood shopping center anchored by Vons and RiteAid, is located at 526 East 1st Street.

“On Board will be relocating their local store from 17th Street in Tustin to Larwin Square to better position their store in Tustin’s landmark community center,” Hogberg said. It is estimated that On Board will open in early July, 2005.

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. Coreland Companies is based in Tustin with offices throughout California. For more information, visit www.coreland.com.

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