California Centers

SEP 2018

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

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Page 53 of 56

REAL ESTATE TRANSACTIONS September 2018 | California Centers Magazine 47 LONG BEACH Training Gym – a 2,466 sq. ft. lease for a gym facility opening at 2501 Long Beach Blvd. An agent with Berkshire Hathaway represented the lessee. Manny Napoles- Ramirez, with illi Commercial Real Estate, represented the lessor in the transaction. LOS ANGELES An iconic 5,106 sq. ft. single tenant occupied retail property – located at 819 North La Brea Avenue, has been sold for $4.1 million. Avison Young brokered the sale of the property, positioned at the heart of the La Brea neighborhood. Christopher Bonbright and Brandon Mason, with Avison Young, represented the seller, the Flora M Kinyon Trust, and the buyer, Santa Monica Corridor, LLC, in the transaction. Built in 1928 as a ribbon factory, the site was renovated in 2015 and currently is occupied by fashion designer Rick Owens' West Coast retail flagship that was designed by noted architect Anna Tumaini. Bonbright stated, "This is an ideally positioned net-leased investment for the near and long terms." SANTA MONICA The Gourmandise School – this independent, gourmet cooking school has relocated to a new, larger location at Santa Monica Place. The school has an increased calendar of class offerings, with the capacity to host more students and larger scale culinary events. At twice its previous size, the space features two classroom kitchens, a prep kitchen, walk-in refrigerator and walk-in freezer. The glass storefront enables passers by to observe live classes and culinary demonstrations. There is also an adjacent retail area offering goods and ingredients procured from local, sustainable purveyors. The Gourmandise School has become LA's most revered recreational culinary experience. The new location occupies the third floor of Santa Monica Place. Across from the future home of the Cayton Children's Museum. STUDIO CITY Bonjour Fete – a 2,110 sq. ft. lease for a store opening at 12336 Ventura Blvd. An agent with LS Capital represented the lessee. Todd Nathanson, Keith Corneliuson, Mike Matzner and Carter Andrews, with illi Commercial Real Estate, represented the lessor in the transaction. SUN VALLEY Fashion Boomy – a 6,975 sq. ft. lease for a women's clothing store opening at Canyon Plaza. Michael Bohorquez and James Rodriguez, with Colliers Retail Foresight in Los Angeles, represented the lessee in the transaction. TARZANA Village Walk – A Pine Tree LLC affiliate has acquired an indirect interest in and taken over the property management responsibilities for this 149,000 sq. ft. center. Accessible from the Metro Orange line and freeways 101 and 405, Village Walk is also adjacent to apartment and townhome communities. Pine Tree LLC is an Illinois-based real estate company specializing in retail. WOODLAND HILLS Kids Empire – a 10.141 sq. ft. lease for a store opening at 6400 Owensmouth Avenue. Agents with Kidder Matthews represented the lessee. Carter Andrews, with illi Associates, represented the lessor in the transaction. ORANGE COUNTY COSTA MESA Trim Fitness Studio – a new gym that specializes in the Lagree Fitness Method has opened as the second location of this concept to enter the Southern CA market. IRVINE Irvine Spectrum Center has completed a $200 million reinvestment by introducing an elevated retail environment and the addition of new restaurant and entertainment tenants. Irvine Company Retail Properties is the owner of the destination. Beginning in August, and continuing through 2019, a total of 30 new stores are due to open in four of the newly constructed buildings. There will also be a wide array of new and enhanced outdoor spaces and amenities, including courtyards, lush landscaping and seating areas. Among the openings: Apple, Hello Kitty Café, H&M, STANCE, 85 degrees C Bakery Café, BLKdot Coffee, Afters Ice Cream, Concrete Rose, Falasophy, Robata Wasa, SoHa Living, The Denim Lab, Ra Yoga, UnAffected, Brigade LA, Drybar, Sephora, and Italian menswear brand SST&C. NEWPORT BEACH Lilly Pulitzer – the iconic American resort wear brand, will open its first West Coast location at Fashion Island in early 2019. This marks the start of its planned West Coast expansion strategy. Known for its brightly printed, chic resort and beachwear, Lilly Pulitzer joins a host of world-class brands at this premier coastal, open-air lifestyle center, which is owned by Irvine Company. The labels sophisticated, yet relaxed style Ideally reflects the aesthetic and attitudes of the Fashion Island shopper. RIVERSIDE COUNTY LAKE FOREST Premier Pole – a 2,420 sq. ft. lease for a pole fitness and training facility opening in Sept. at Forest Ridge Plaza, located at 24334-24412 Muirlands Blvd. David Morgan and John Moss, with Parker Commercial in Lake Forest, represented the lessor in the transaction. Lash Spa Boutique – a 640 sq. ft. lease for a salon opened at Dana Plaza, located at 25411 Trabuco Road. John Moss and David Morgan, with Parker Commercial in Lake Forest, represented the lessor in the transaction.

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