Sept. 29, 2011
Dollar Tree at Magnolia Square
-- TUSTIN, CALIF. - Coreland Companies of Tustin, Calif., one of the largest real estate service companies based in California, announced today it has brokered 5 transactions in Orange and Riverside counties for a total consideration of more than $6 million.
Coreland Companies exclusively represented seller, Huntington Center LLC, in the sale to Danforth Holdings of Santa Ana, Calif., in the sale of the leasehold interest of Huntington Beach Shopping Center located at 7212 Edinger Avenue in Huntington Beach, Calif. The 10-acre shopping center contains a vacant Albertsons, a Toys ‘R Us and has approximately 22 years remaining on the ground lease. The seller was represented by Matt Hammond, Director, and Ben Terry, Senior Associate, with the Retail Brokerage division of Coreland Companies. The buyer represented itself.
Coreland Companies’ Steven Hogberg, Senior Vice President of the Brokerage division, represented the seller, Cambridge Park Partners, in the sale of a 7,783-square-
foot R&D building located in Cambridge Park, 3505 Cadillac in Costa Mesa, Calif. Buyer Kerkorp LLC paid $900,000, and was represented by Joe Winkelmann of Voit in Irvine, Calif.
Dollar Tree signed a 5-year, 9,150-square-
foot lease valued at $600,000, at Magnolia Square in Anaheim, Calif. Coreland Companies exclusively represents Magnolia Square for landlord, Carillo & Wigton Properties, LLC of Irvine. Magnolia Square is located at 1238 S. Magnolia, at the southeast corner of Magnolia and Ball in Anaheim. Bryan Bauer, Senior Associate, Retail Brokerage at Coreland Companies represented the landlord. Dollar Tree was represented by Strategic Retail Advisors of Newport Beach, Calif. Dollar Tree is expected to open mid November.
Deseret Book Company signed a 7-year, 5,994-square-
foot lease valued at approximately $1 million at Centre on Seventeenth in Santa Ana. Coreland Companies exclusively represents the Center for Landlord, ICI Development of Santa Ana. The shopping center is located at 2014-2032 17th Street, at the southwest corner of 17th and Tustin Avenue. Terry at Coreland Companies represented the landlord. Deseret Book Company was represented by the Newport Beach office of Lee & Associates. Deseret Book is expected to open in December.
Family Dollar signed a 10-year, 10,000-square-
foot lease valued at over $1 million at Van Buren Plaza in Riverside, Calif. Coreland Companies exclusively represents Van Buren Plaza, located at 5600 - 5750 Van Buren, for landlord, Kensington Real Estate Group of Tustin. Hammond at Coreland Companies represented the landlord. Family Dollar was represented by Jeffrey Dake & Associates of Westlake Village, Calif. Family Dollar is expected to open late October.
“We continue to be very busy with leasing and sales activity throughout our portfolio, and well-located and well-positioned retail properties, such as these, prove there are still buyers and quality tenants in the market that are expanding and doing deals," Hogberg said.
“Discounters are still very active in the marketplace,"
said Hogberg. "We have focused our energies on targeting these types of tenants and, I’m happy to report, we’re seeing great success.”
Coreland Companies is a full-service commercial real estate company with expertise in retail, office and industrial properties. Coreland Companies is based in Tustin, California with offices in Utah and throughout Southern California. For more information, please call the company’s headquarters at (714) 573-7780 or visit www.coreland.com.