TUSTIN, CALIF. (Sept. 12, 2013) – Coreland Companies, one of Southern California’s leading real estate management and brokerage firms, has been awarded three new property management assignments. The new assignments, including two properties recently acquired by Memorial Health Services, complement Coreland’s growing management portfolio that has seen the addition of 1 million square feet of commercial properties over the last year.
Recently purchased by Memorial Health Services, the 300,000-square-foot Fountain Valley City Center is comprised of three, three-story office buildings situated around a common courtyard. Positioned at Brookhurst and the 405 Freeway, the company expects to bring nearly 1,500 jobs to Fountain Valley by transferring the bulk of its administrative support services to the property. In addition, Memorial Health Services also acquired the adjacent 60,000-square-foot Slater Office Building to further expand this new corporate campus.
Cerritos Plaza is a 200,000-square-foot, neighborhood shopping center strategically positioned along South Street, a main retail corridor in Cerritos. Anchored by Ralphs and CVS/pharmacy, the property is scheduled to begin a major renovation by the end of the year. The ownership, Cerritos Plaza, LLC, is also represented by Coreland’s brokerage team.
“We are looking forward to working closely with our clients to reposition and strengthen the value of each of these assets,” said Coreland Companies President Chris Hite. “We take great pride in our ability to be a strategic partner and effectively manage or lease properties through these efforts. Our teams approach each new property in a very personalized manner to best address the unique objectives.”
In addition to the three properties, this year’s new management assignments also include: 8280 Melrose Avenue, a 3,000 square foot retail building in Los Angeles; Cathedral City Marketplace, a 200,000-square-foot, grocery-anchored shopping center in Cathedral City; the 32,000-square-foot FAMSA Retail Building in Los Angeles;Vineyard Village, a 98,000-square-foot shopping center in Ontario; Corona Washburn Auto Center, a 20,000-square-foot neighborhood center in Corona; and Tampa Plaza, a 260,000-square-foot power center in Northridge.