LAGUNA HILLS, CA-The Hodgdon Group has started construction on the renovation and expansion of a former Circuit City building to make way for a 51,000-square-foot retail building to include an Ashley Furniture HomeStore and a 4,000-square-foot Chick-fil-A restaurant with drive-through on an outparcel. Hodgdon Group is serving as the fee developer, contractor and master leasing broker for the redevelopment project, which is at 24001 El Toro Rd.
Hodgdon Group also negotiated the site acquisition for the project, which it describes as among the larger retail redevelopment projects in Orange County. It is expected to be completed in March 2012.
"To make sure we had the absolute best leasing team, the Hodgdon Group partnered with Scott Kaplan of CBRE national retail practice and local market experts Tim and Justin McMahon of CBRE's Newport Beach office," said Aaron Hodgdon, president of the Hodgdon Group. John Rootlieb of Main & Main of Santa Monica represented Chick-fil-A.
A letter of intent has been signed for the remaining 18,000-square-foot retail space in the 51,000-square-foot building, according to Hodgdon. He noted that Hodgdon Group—which is a full-service brokerage, development, construction and project management company—has taken the project from the initial concept and provided multiple functions to drive it to completion. It is being managed by Hodgdon EVP David Miank, on-site senior project manager Dan Waller and superintendent Edward Miank. Hodgdon-Miank Construction is serving as the design-build contractor and hired architect Greg James of Nadel as well as the consultants and subcontractors.
The Hodgdon companies have been working with Ashley for over a decade on various real estate and construction projects. Additionally, Hodgdon-Miank Construction is acting as the design-build contractor for the remodel of 34,000 square feet of big box retail in Northridge, CA and a new 40,000-square-foot office building in Orange County.
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