LOS ANGELES—Storm Properties is moving forwardwith construction efforts on Storm Plaza. The50,000-square-foot outdoor shopping center, whichGlobeSt.com reported broke ground last year, has launched phaseII, adding an additional 21,500 square feet of space onto theshopping center.

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The $15-million development is located on 4.2 acres at thecorner of Sepulveda Boulevard and Normandie Avenue in Torrance. Thehighlight of this second construction phase is a 4,250-square-footWells Fargo banking branch. Wells Fargo completeda lease transaction with the developer prior to the start ofconstruction. The developers are still negotiating leasetransactions with other potential tenants to fill the remainder ofthe space. Phase II construction will be completed in the fall ofthis year.

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Construction phase I focused on building the center's anchorstore, a 16,556-square-foot, stand-alone CVSstore. Developers had signed a lease with the drugstore chain inSeptember just before the start of construction. Thestore opened in November of last year and is in fulloperation during construction. The third and final constructionphase is scheduled to begin later this year with the center'scompletion estimated for early 2015. These dates are later than theoriginal completion dates, which estimated construction would bedone in late 2014.

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Although construction is behind schedule, developers are gettinga lot of interest from potential tenants. "With CVS now open,interest in the center has increased significantly," saysJay Ahluwalia, president of Storm Properties. "Theaddition of another excellent tenant demonstrates the demand forquality retail space.” Ahluwalia was not available for additionalcomment.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.