Coreland Gains New Lease Assignments

TUSTIN, CA-Coreland Cos.' brokerage division has been awarded five new retail leasing assignments in Southern California, including three in Orange County and two in Los Angeles County. The assignments are located in Montclair, Newport Beach, Costa Mesa, Orange and El Monte.

Montclair Shoppes in Montclair is a 20,000-square-foot ground-up development project of BOSC Realty Advisors. The neighborhood shopping center, slated to be an ideal destination for quick-service restaurants and local services, is expected to be completed by Fall 2014.

“Positioned adjacent to the popular Montclair Plaza and Costco, the availabilities at Montclair Shoppes offer prime visibility and dense demographics for tenants no present in the local market,” says Matt Hammond, director of retail brokerage for Coreland. “It's an ideal market that pulls from customers in Los Angeles County, Orange County and the Inland Empire.”

The five new listing assignments, three in Orange County and two in Los Angeles County, total more than 60 properties and 3 million square feet. “This cross-section of properties is a logical addition to our portfolio, allowing us to partner with a group of new clients and strengthen our presence,” says Steven Hogberg, SVP of brokerage at Coreland.

Hammond will handle the Montclair Shoppes leasing assignment. He and Ben Terry, Coreland's senior associate of retail brokerage, will represent ownership in the four additional assignments, which include:

• 3305 Newport Blvd. in Newport Beach, owned by TerraCotta Group, a street-front retail center located at the gateway to Balboa Peninsula. The 6,500-square-foot center features between 850 square feet and 1,072 square feet of premium, restaurant-ready space.
• Harbor Center in Costa Mesa, which features two recently renovated retail buildings on Harbor Blvd., just north of the Triangle, one of the busiest thoroughfares in Costa Mesa. The center has 7,762 square feet of gross leasable area and benefits from optimal visibility and dense demographics.
• 13011 Chapman Ave. in Orange, a 21,000-square-foot hard-corner location positioned just minutes from Disneyland, Anaheim Resorts and I-5. The ground-lease opportunity features 1,800 square feet of available restaurant space on an approximately ½-acre pad.
• Golden West Plaza in El Monte, owned by Spaulding Pacific, a 10,000-square-foot neighborhood center located off Lower Azusa Rd. and Baldwin Ave. The property, adjacent to a Home Depot, has convenient access to the 210, 605 and 10 freeways, features up between 900 square feet and 2,000 square feet of available space for service and restaurant tenants.

As GlobeSt.com reported in September, Coreland Cos. added three new Southern California properties to its management portfolio at the time: Fountain Valley City Center, Slater Office Building and Cerritos Plaza. The new assignments added 500,000 square feet of commercial space under management to the company's portfolio, augmenting its roster to 1 million square feet of space this year.