(Save the date: RealShare Los Angeles comes to the Hyatt Regency Century Plaza in Los Angeles, CA, on March 27.)
WESTLAKE VILLAGE, CA-Total Woman Gym & Spa has inked a lease agreement to relocate its facility from an 11,000-square-foot space at another location here to Shoppes at Westlake Village. The gym and spa will occupy the entire upper level of Building E at 30800 Russell Ranch Rd.
The transaction is the second to take place at this center in about two months. At the end of December, Target Corp. acquired 10.3 acres of land to build a 138,500-square-foot store at the center, which will open in March 2014.
Stephanie Skrbin and Paul Capra, principals at Lee & Associates-LA North/Ventura Inc., represented the center in the lease transaction. “We're thrilled that Total Woman chose our center to roll out its updated 'live your best life' personal health and wellness facility and to welcome the gym's 3,000-plus members,” said Skrbin in a prepared statement. “Target's popularity with female shoppers provides a strong adjacency for Total Woman's business model, and the European Village architectural design of the center provides a perfect backdrop for Total Woman's updated brand.”
As GlobeSt.com reported exclusively last week, SVP Han Widjaja Chen of Lee & Associates' investment-services group, represented both the buyer and the seller in the sale of a multifamily portfolio that included 9014, 9022 and 9034 Orion Ave. and 9015 Langdon Ave. in North Hills, CA, for $9.5 million. The buyer is planning to hold the 102-unit portfolio for long-term investment in order to realize its upside rent potential. The properties at 9014, 9022 and 9034 Orion Ave each contain 26 units, while the property at 9017 Langdon Ave. contains 24 units.
Is retail leasing picking up in your area? Tell us about it in the comment box below.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
