IRVINE, CA-Locally based KZ DevCo has seven new CVS Pharmacy and Long's Drug Stores either under construction or scheduled for construction in Southern California and Hawaii after completing seven others this year. The company pegs the total value of the projects at more than $120 million.
The Southern California stores under construction or scheduled to begin construction are in Murrieta, Lakewood, Huntington Beach, Riverside and Anaheim. The Hawaii stores are in Honolulu and Ewa Beach. When the new stores are completed, KZ will have opened 20 new stores since initiating its relationship with CVS/pharmacy and Long's Drug Stores. The seven that it has completed this year are in Haleiwa, Pearl City and Pahoa, HI as well as Ramona, Los Alamitos, Huntington Beach and San Marcos in Southern California.
Mark Zimmerman, KZ DevCo's general partner, notes that the company is actively looking to acquire and develop additional properties in Southern California and Hawaii. "We are very fortunate to be affiliated with one of the few retail tenants that continue to pursue new developments in today's uncertain market," Zimmerman commented.
KZ DevCo is a commercial real estate development firm specializing in shopping center development, single-tenant representation, property management and construction management. It acquires and develops retail facilities on behalf of major credit tenants including CVS/pharmacy, in Orange County, Los Angeles County, Riverside County, San Diego County, and Imperial County in California as well as Hawaii.
Of the seven new stores , four are under construction: South King Street and University Avenue in Honolulu, Papipi and Fort Weaver roads in Ewa Beach, Nutmeg Street and Jackson Avenue in Murrieta and Palo Verde Avenue at South Street in Lakewood. Two are planned for construction in the third quarter, at Bolsa Chica Street and Warner Avenue in Huntington Beach and at Euclid Street and Katella Avenue in Anaheim. Construction is slated for the fourth quarter on a store at Archibald Avenue and Schleisman Road in Riverside.
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