LOS ANGELES-Retail brokerage firm Wilson Commercial Real Estate has landed leasing assignments from five different property owners for more than 2.5 million square feet of space in eight shopping centers in Southern California. Chris Wilson, president of Wilson Commercial, says that with the new assignments the company now oversees leasing at 77 retail properties totaling 9.21 million square feet in Southern and Central California.
The new assignments include four centers owned by Beverly Hills-based Shapell Properties, two of them in Northridge and two in Norwalk. The Nortridge centers are Porter Ranch Town Center, a 560,000-square-foot power center in Northridge that is anchored by Best Buy, Toys R Us, Sports Chalet, Wal Mart, Babies R Us, Petco, Ralphs and Jo-Ann Fabrics; Aldea at Porter Ranch, Northridge, a proposed 200,000-square-foot entertainment lifestyle-themed development which may include a movie theater, specialty retail, health club, restaurants, grocer, fashion retailers and boutiques for which Shapell is owner/developer with an opening planned for 2013.
The two Shapell Norwalk properties are Norwalk Swap Meet, a 90,000-square-foot freestanding available building on 8.06 acres; and Alondra and Maidstone Shopping Center, a 35,000-square foot strip retail center owned by Shapell Properties at the southwest corner of Alondra Boulevard and Maidstone.
In Santa Clarita, Wilson’s new assignment is the Plaza at Golden Valley, a 650,000-square-foot center at Interstate 5 and Golden Valley Road. The center is anchored by Kohl’s, Target, Bed Bath & Beyond, Lowe’s, Staples, and Petsmart and owned by Carlsbad, CA-based Terramar Retail Centers.
Two of the properties are operated by Santa Monica-based Lubert Adler Management West. They include a former Montgomery Wards Building in Panorama City that is the newest and largest retail redevelopment site in San Fernando Valley. It is situated adjacent to the Panorama Mall and Wal Mart, immediately west of the signalized intersection of Van Nuys and Roscoe boulevards. The project will include the adapted re-use of the former Montgomery Wards building and free-standing pads. The other Lubert Adler property is Santa Susana Plaza, a 145,000-square foot neighborhood shopping center on the southeast corner of Cochran and Tapo streets in Simi Valley. The center is anchored by 24 Hour Fitness, 99 Cents Only Stores and Jo-Ann Fabrics, and has a 34,000-square-foot former grocery building for lease.
The eighth property is Desert Gateway, a 500,000-square foot power center at the southeast corner of Monterey Avenue and Dinah Shore Drive in Palm Desert that is anchored by a 221,000-square-foot Wal-Mart Supercenter, Sam’s Club, Kohl’s, Ashley Furniture and Petsmart. The center is owned by Los Angeles-based Rothbart Development.
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