TUSTIN, CALIF. (July 29, 2014) – Coreland Companies’ brokerage division has been awarded four listing assignments by Watt Companies. The properties, totaling nearly a quarter million square feet, call for a focus on attracting higher quality tenants that strengthen co-tenancy and better serve local communities.
“We are excited for the opportunity to work with Watt Companies on these four unique properties,” said Matt Hammond, Coreland Director of Retail Brokerage. “In addition to expanding our strong presence in South Los Angeles County, the properties provide us the opportunity to further tap into two diverse communities which we are very familiar.”
Among the new listings, Santa Fe Springs (Calif.) Marketplace is a 175,364-square-foot grocery-anchored community shopping center featuring national tenants such as Food-4-Less, Rite Aid, O’Reilly Auto Parts and IHOP. Hammond and Senior Associate Ben Terry will handle the leasing assignment.
“Thanks to the continued strengthening of the economy, our discussions have expanded beyond just filling space, and are now focused on improving the quality of our shopping centers,” said Hammond. “On Santa Fe Springs Marketplace, for example, we will be focused on finding higher-quality tenants, and evaluating existing tenants to determine which could be replaced to enhance the shopping environment. We will also identify opportunities to combine lease space for larger tenants.”
Additional listings include Western Town Plaza, a 23,000-square-foot neighborhood shopping center in Torrance anchored by Spires Restaurants and 7-Eleven; New Horizons Plaza, an 18,000-square-foot convenience center positioned in the residential trade area of Torrance; and Sadie Lane, a 14,000-square-foot retail strip center located within the dense trade area of Artesia.
“With a strong surrounding Asian/American population, there is a tremendous opportunity to attract local, emerging retailers and restaurateurs to these three centers,” said Kim who also represents successful ethnic retailers such as Waba Grill and Tutti Frutti. “These are stable communities of the nation’s fastest-growing multicultural segment. Adding quality tenants to the lineup will further increase shopper traffic and loyalty.”
For additional information on each listing, please visit www.coreland.com/properties-for-lease.