Coreland Companies Negotiates 30,000 Sq. Ft. In Southern California Leases

Coreland Companies negotiated several leases totaling nearly 30,000 SF in So. CA including 24 Hour Fitness in West Covina, Tesco’s Fresh & Easy in Anaheim, and three second floor leases at Bella Terra in Huntington Beach. End Quote

Orange County, CA (1888PressRelease) December 24, 2007 - Coreland Companies of Tustin, Calif., one of the largest real estate service companies based in California, announced that its leasing / sales division has negotiated several leases totaling nearly 30,000 square feet in Southern California including 24 Hour Fitness, Tesco’s Fresh & Easy Neighborhood Market, and three second floor leases at Bella Terra shopping center in Huntington Beach.

24 Hour Fitness signed a 15-year lease for 24,000 square feet for a total consideration of approximately $8.54 million at South Hills Plaza, 1422 S. Azusa in West Covina. South Hills Plaza is a neighborhood shopping center exclusively leased and managed by Coreland Companies. Bryan Norcott of Colliers International in Los Angeles represented 24 Hour Fitness. Matthew Hammond and Bryan Bauer of Coreland Companies represented the owners of South Hills Plaza in the lease transaction.

“South Hills Plaza is an ideal location for 24 Hour Fitness as it fills a void between their 24 Hour Fitness Sport locations in downtown West Covina and City of Industry,” said Coreland’s Leasing / Sales Division Senior Vice President Steven Hogberg. “24 Hour Fitness was drawn to the location due to the project’s recent renovation, excellent pylon signage, traffic on Azusa and the proximity to future Big League Dreams Sports Complex opening in 2008.” 24 Hour Fitness is now open.

Tesco Stores West, Inc. dba Fresh & Easy Neighborhood Market signed a 20-year lease for 15,393 square feet for a total consideration of approximately $4.94 million at Anaheim West Shopping Center, 3170 W. Lincoln Avenue in Anaheim. Anaheim West Shopping Center is an 80,000-square-foot neighborhood shopping center located at the southeast corner of Lincoln Avenue and Western Avenue. Blaine Bush of Strategic Retail Advisors in Newport Beach represented Tesco Stores West. Matthew Hammond of Coreland Companies represented the owners of Anaheim West Shopping Center in the lease transaction.

“Anaheim West Shopping Center is undergoing a major renovation and Fresh & Easy is the perfect tenant to kick off our re-tenanting at the center,” said Hogberg. “After announcing the Fresh & Easy lease, we have three to four other national tenants who have shown interest to be their co-tenants.” Fresh & Easy Neighborhood Market is now open.

At Bella Terra shopping center, located at 7777 Edinger Avenue in Huntington Beach, Coreland negotiated three leases. CorePower Yoga signed a 10-year lease for 7,809 square feet for a total consideration of approximately $1.36 million and is scheduled to open February 15, 2008; Dental Oasis of Orange County signed a 10-year lease for 4,000 square feet for a total consideration of approximately $1.19 million and plans to open soon; and Atlantis Eye Care signed a five-year lease for 2,500 square feet for a total consideration of approximately $360,000 and is now open. The tenants represented themselves in the lease transactions. Steven Hogberg and Matthew Hammond of Coreland Companies represented the owners of Bella Terra, DJM Capital Partners, Inc. of San Jose, Calif.

“DJM Capital Partners hired Coreland Companies to lease this second floor space, which was their only remaining vacancy,” noted Hogberg. “We targeted commercial office uses and within 90 days had proposals pending. We are very pleased that we were able to convert this unique retail space to first class office and medical space and lease fill the vacancy.”

Hogberg added, “With the recent acquisition of The Towers of Bella Terra and the highly anticipated Phase II of Bella Terra, this has become the premier lifestyle project in west Orange County.”

About Coreland Companies
Tustin, Calif.-based Coreland Companies is a full-service commercial real estate company with expertise in retail, office and industrial properties. Coreland Companies is one of the largest privately held commercial real estate service companies based in California with a current portfolio exceeding 100 properties and totaling more than 13 million square feet. Coreland Companies has offices throughout California and recently opened an office in Salt Lake City, Utah. For more information, visit www.coreland.com.

Steven J. Hogberg
Senior Vice President Leasing/Sales
CORELAND COMPANIES
17542 E. 17TH Street, Suite 420
Tustin, California 92780
714.573.7780
shogberg ( @ ) coreland dot com
http://www.coreland.com

###

Visit Monaghan Communications / Anne Monaghan Website

space