Owners Seeking Better Retail Tenants Again

TUSTIN, CA—Retail centers with strong fundamentals are beginning to move away from the “just keep it leased” mindset by seeking better-quality tenants with synergies that more accurately serve their local markets, Matt Hammond, Corland Cos.‘ director of retail brokerage, tells GlobeSt.com. The locally based firm has recently been awarded four listing assignments by Watt Cos., one of which in particular calls for a focus on attracting these higher-quality tenants.

Santa Fe Springs Marketplace, a 175,364-square-foot, well-located grocery-anchored community shopping center in South Los Angeles County, is one example. Coreland has been tasked with finding more synergistic tenants to lease up the center, which features such national tenants as Food-4-Less, Rite Aid, O’Reilly Auto Parts and IHOP. Hammond and senior associate Ben Terry will handle the leasing assignment.