BUENA PARK, CA-Coreland Cos.' brokerage division has executed three more leases at the newly redeveloped 5970 Orangethorpe shopping center here, bringing the center to a fully occupied status. The Habit Burger, Pizza Studio and Yogurtland have signed leases with owner Charlie Lyons Properties, the three deals totaling more than $2.5 million.
As GlobeSt.com reported in March, Coreland's director of retail brokerage Matt Hammond represented the owner of 5970 Orangethorpe in three 10-year lease transactions with Chipotle, Jersey Mike's and Starbucks that totaled more than $3 million. Originally a hog ranch dating back to the early 1930s, the property was the childhood residence of the property owner, Charlie Lyons, who eventually converted it to retail in the 1950s.
All three of the most recent tenants have signed 10-year leases: the Habit Burger for 2,194 square feet; Pizza Studio, 1,526 square feet; and Yogurtland, 1,194 square feet. John Romm of Commercial West represented the Habit Burger in the agreement, while Hammond represented Lyons in all of the transactions. All three retailers are scheduled to open in the fall.
A representative for Coreland tells GlobeSt.com that this will be Pizza Studio's first Orange County location. A “create-your-own-pizza” quick-service restaurant that features local artists' work,
the retailer has a popular location in Los Angeles near USC and has signed franchise agreements in Northern California and on the East Coast.
“We are extremely pleased with the success of the redevelopment of 5970 Orangethorpe,” says Hammond. “As a team, we identified a market need for quick-service restaurants and saw a tremendous opportunity to capitalize on an underserved office and industrial trade area. We developed and executed our marketing plan within two years of taking on the property.
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