TORRANCE, CA-Storm Plaza's anchor tenant CVS/pharmacycelebrates its grand opening after completing construction. The grand opening of the pharmacy also marks the completion of phase one of development. The CVS/pharmacy is 16,556 square feet,

Storm Properties Inc. signed a lease deal with the mega-chain drugstore in September, GlobeSt.com reported in an earlier story. At the time, construction on the store had already begun. "We look forward to establishing this store as an anchor for the community and are anxious for new retailers to join us," says Paul Stewart, CVS/pharmacy district manager.

Phase two of the development will begin in January with construction of a 21,405-square-foot Wells Fargo Bank. “These two excellent tenants demonstrate the demand for quality retail space,” says Jay Ahluwalia, president of Storm Properties. The project has three total development phases, and the property owners are currently in negotiations with other prospective tenants, including retail and restaurants.

Storm Plaza is a 50,000-square-foot retail center located on a 4.2-acre lot on Sepulveda Blvd. and Normandie Ave. Valued at $18 million, the development is set in a high traffic intersection serving 193,000 daytime employees. Storm Properties estimates the center's construction will be complete in late 2014.

A handful of other shopping centers have also started construction in Los Angeles County, including the Juanita Tate Marketplace in South Los Angeles. The center is a 77,096-square-foot outdoor retail center valued at $21 million.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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