The senior loan from CJUF will help fund a renovation plan thatwill increase the center's leasable space by approximately 15,000square feet, expand parking capacity and improve access from localroads. A municipal bond issue facilitated by the City of Brea willprovide funding to cover an adjacent flood channel, resulting inadditional parking, better vehicle access and enhanced views,according to CJUF.

Improving this center has been a major priority for theCity of Brea's revitalization efforts. Brea Plaza, perceivedas a significantly outdated retail center due to vacancy and needfor modernization, serves as a gateway to the city because of itslocation adjacent to the busy 57 Freeway, also known as the OrangeFreeway.

To reposition the center, BOSC has been buying out existingleases in advance of the renovation, and has signed new leases withnational and regional retailers who will move into the center oncethe renovation is complete. Existing tenants include Borders,Lucille's Smokehouse, Starbucks, AT&T, Denny's and Buca DiBeppo. The center is substantially preleased to new tenantsincluding Brea 5 Cinemas, Total Wine & More, Chick-Fil-A andPanera, which are slated to move in after the renovations.