A three-year repositioning effort is complete at Honali Plaza with the execution of the final three leases to bring the center to 100% occupied. Following a complete façade renovation, this 85,000-square-foot neighborhood shopping center now features a new look, improved amenities and an upgraded tenant lineup to better serve its community.
Coreland Companies’ Matt Hammond and Chris Premac represented ownership in the signing of a total of five new leases for 30,280 square feet. New tenants include Rise Pet, Plumeria Cafe by Stacks, Lagree Fitness, Qamaria Yemeni Coffee and Bardega Neighborhood Bar & Market.
Located in Laguna Hills, a strong Orange County suburban neighborhood, Honali Plaza was dealing with a vacant box and several vacant shop spaces despite having good ingress and egress, and major freeway accessibility. The center had not been upgraded since its 1970s development. In 2021, the ownership team kicked off a full remodel that included new facades, store fronts, landscaping, common area patios, and upgraded utilities.
Shortly into the remodel, the vacant 27,320-square-foot space was leased by Rise Pet, a high-end pet hospital. Rise Pet was followed by three new restaurants making use of new patio space, as well as boutique fitness and beauty salon tenants. The upgraded tenancies brought rents to current market value, an increase of more than 50% overall.
“Retail demand continues to be strong in Orange County for quality, well located retail centers,” shared Hammond. “Renovating Honali Plaza positioned the shopping center to better cater to consumers who value a quality shopping experience.
“We are proud to have had the opportunity to work with the ownership team, and help them make their vision a reality.”
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