California Centers

JAN 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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26 California Centers Magazine | January/February 2018 CORPORATE ACTIONS who left the company in September 2017. Castner recently served as CFO of Lemonade Restaurant Group and has also held positions at Panda Restaurant Group and Yogurtland. Paramount Realty Services Inc. has added Amanda Walker to its leasing team, to assist with the leasing activities of the company's growing portfolio. Amanda joins Paramount from Metro Commercial Real Estate, where she specialized in landlord and tenant representation since 2014. Kona Grill has named Jim Kuhn chief operating officer. The sushi grill concept said the position has been open for many years. Kuhn most recently served as CEO of Chalak Mitra Group. Galardi Group, the parent of Weinerschnitzel, Tastee-Freez and Hamburger Stand, has named J.R. Galardi, son of Galardi Group founder John Galardi, to the position of president of the family-owned business. The previous president, Dennis Tase, retired in May 2016. Galardi was most recently the company's executive vice president. He continues to report to his mother, Cindy Galardi Culpepper, who became CEO and chairman following the death of John Galardi in 2013. CenterCal Properties LLC has hired Ruben Perez as executive vice president of Leasing. Perez most recently spent 22 years with Westfield LLC, in the leasing finance division. He merchandised and leased several developments in Los Angeles, and led leasing teams in Los Angeles, San Diego, Florida and the Northeast. CONTRACTS & AWARDS Progressive Real Estate Partners announced it has the listing of 55 acres of prime commercial land for sale in Hesperia. The sale listing comprises multiple parcels totaling +/- 55 acres having a combined value of approximately $12 million. The sale of the properties is due to the untimely passing of one of Hesperia's long-time prominent developers, Michael Gallagher. The Gallagher family recognizes the importance of the properties to the community and desires that they be developed by an experienced commercial developer. Brad Umansky and Pablo Velasco, at Progressive Real Estate Partners, are exclusively marketing the property on behalf of the Gallagher family. The portfolio includes Ranchero Crossings, multiple parcels adjacent to the 15 Freeway, suited for a shopping center, entertainment venue or medical facility; and 9.6 acres of land having frontage along Ranchero Road that is zoned for commercial use. NewMark Merrill Companies has the listing for the lease of the following properties: available space at Carson Town Square, located at the intersection of Carson Street and Avalon Boulevard (opposite a newly developed downtown Carson mixed use project currently under construction); the lease of combined space at Placentia Town Center in Orange County, on Yorba Linda Boulevard at Kraemer Boulevard, positioned in proximity to Cal State Fullerton. Anchors at the center include Marshalls, Ross Dress For Less and CVS; the leasing of space in Heritage Plaza, located at Arlington Avenue and California Avenue in Riverside. Visible from Arlington Avenue and accessible from the 91 Freeway, the property is adjacent to Arlington Square: the company also has the listing for the leasing of a fast casual or sit down restaurant tenant to occupy 2,343-square-foot of space next to Ulta and Petco, and also the lease out of a 5,694-square-foot pad building at Janss Marketplace, located adjacent to The Oaks, at the NWC of Moorpark Road and Hillcrest Drive in Thousand Oaks. The landlord will remodel the existing fa├žade to the new tenants preference and is willing to grant TI and utility upgrade credits. The space features an outdoor patio and excellent visibility; the lease of a 5,694-square-foot stand alone restaurant the listing of up to 22,500-square-foot of anchor space for lease at Norwalk Town Square, a power center at the intersection of Rosecrans Ave. and Pioneer Blvd. CURRENT EVENTS Target has announced that it is accelerating its store remodel plan, to involve more than 1,000 stores by the end of 2020. It also intends to expand its Restock program nationwide. The remodels will feature its "next generation" store design. The company is additionally continuing to expand its small-format stores, with 10 small-format units having been opened in Chicago, Los Angeles, Philadelphia and Minneapolis in November. By the end of 2019, the company projects operating more than 130 small-format locations nationwide. Stated Chairman/CEO, Brian Cornell, "We're evaluating every aspect of how we serve our guests, including reimaging hundreds of stores, opening new small-format stores, introducing new and exclusive brands, pursuing and aggressive digital strategy and transforming the way we replenish our stores and get products to our guests." The Finish Line Inc. has unveiled its updated store design with the opening of a flagship store in Del Amo Fashion Center in Los Angeles. It is the third of the retailer's locations (and first in California) to feature a new design concept and digital display interactions, putting technology at the center of the total shopping experience. B. Good, a fast casual concept based in Boston, has announced plans to grow its presence in several new markets in the U.S., including San Francisco and Los Angeles in California. The chain has over 60 locations in the U.S., Germany, Canada and Switzerland, and is seeking additional multi-unit operators for targeted development territories that will help it achieve a goal of 80-plus locations by 2018.

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