Argent Lands Listings for 800,000 SF in Corona

CORONA, CA-Argent Retail Advisors of Dana Point, CA has landed the leasing assignments for approximately 800,000 square feet of retail space at Corona Hills Marketplace and Corona Hills Plaza, along with assignments for other Southern California retail sites. The two new Corona listings are both owned by Kimco, bringing to 1.2 million square feet the total of space that Argent leases for Kimco.

Argent founder Terry Bortnick tells GlobeSt.com that the company also has landed an assignment from CIM for the leasing of the retail component of CIM's Downtown Anaheim project, which is a mixed use development of approximately 525,000 square feet. In addition, the company is opening a new office in West Covina to service the San Gabriel Valley and the 605 Corridor, where it has new listings in Monrovia, Arcadia, Baldwin Park, Glendora, Covina, West Covina, Artesia and Norwalk. Other new work includes Milan Capital Management's awarding of Argent the retail leasing of their its owned and managed retail portfolio of shopping centers in Fontana, Laguna Hills, Mission Viejo, Glendora, Anaheim and Lake Forest.

Corona Hills Plaza is a 534,000-square-foot power center anchored by Costco, Home Depot, Ross Dress For Less, Office Max, Big 5 Sporting Goods, Buy-Rite and Claim Jumper. Other anchor tenants at the intersection include Wal-Mart, Von’s, Pet Smart, Jo-Ann Fabrics.

Corona Hills Marketplace is a 270,000-square-foot Community Center anchored by Wal-Mart (NAP), Vons, Petsmart and Anna’s Linens. Other anchor tenants at the intersection include Costco, Home Depot, Ross Dress For Less, Office Max, Big 5 Sporting Goods, Buy-Rite, Claim Jumper and Jo-Ann Fabrics.

AJ Wright and UFC Gym locations are coming soon to both of the centers. Both of the centers also include a host of supporting tenants that are nationally recognized brands.

Bortnick observes that Argent's new listings come at a time when, on the retail scene today, “We’re in a very strange market right now, almost manic-depressive, where the fear/optimism balance shifts often for retailers and consumers alike.” He adds that, “With the exception of the discounters and deep discounters, national retailers have been mostly on the sidelines for the last two years. The majority of retail leases we have signed this year have been with local retail chains/multi-unit operators, as opposed to large national chains or first-time owners.”

One of the drivers of retail today is that consumers remain strapped for cash in today's economy, Bortnick says. "The trend we see is that consumers are still reluctant to spend freely, but they are to spending money on goods and services that benefit their health, their children, their pets and on value priced day-to-day necessities,” he says.