Coreland Cos. Lands Eight Retail Assignments

TUSTIN, CA-The Coreland Cos. has added more than 1.5 million sf to its portfolio of retail management assignments with the landing of contracts to manage eight retail centers in Southern California. The Tustin-based real estate service company’s new assignments include 47th Street Pavilion, Vernola Marketplace, Talega Village Center, Redlands Town Center, Porter Ranch Shopping Center, Diamond Hills Plaza, Mission Plaza and Centre Pointe Marketplace.

Chris Hite, co-founder and the new president of the Coreland Cos., notes that the new contracts come from both existing and new clients. The list of property owners for the new assignments includes Hopkins Real Estate Group of Irvine, CA; JH Real Estate Partners Inc. of Newport Beach, CA; Sarofim Realty Advisors of Dallas; Sussex Capital in Woodland Hills, CA and two clients that both own property at the new Centre Pointe Marketplace in Valencia.

Hopkins awarded Coreland the management contract for: 47th Street Pavilion, a 500,000-sf center in Palmdale that is anchored by Super Target and Home Depot; Vernola Marketplace, a 385,000-sf community shopping center in Mira Loma that includes tenants Lowe’s, Michaels, Ross, BevMo, Bed, Bath & Beyond, and Petco; and Talega Village Center, a 102,000-sf Ralphs-anchored shopping center in San Clemente.

The JH Real Estate Partners assignments include two of the client’s recently purchased two shopping centers, the Redlands Town Center in Redlands and Porter Ranch Shopping Center in Los Angeles. Redlands Town Center is a 251,000-sf shopping center anchored by JCPenney, Toys ‘R Us and Berean Christian Bookstore. Porter Ranch Shopping Center is a 56,000-sf property that includes Whole Foods, Curves, Kaiser Pharmacy and USPS.

Sarofim awarded Coreland the management contract for Diamond Hills Plaza, a 156,000-s community center in Diamond Bar that is anchored by Super H-Mart and Rite Aid and is complemented by other national retailers including Starbucks, Quiznos, CitiFinancial and Radio Shack. Sarofim, a new client of Coreland’s, recently purchased Diamond Hills Plaza on behalf of an institutional investor.

Existing client Sussex Capital has tapped Coreland to manage Mission Plaza, a 43,000-sf neighborhood center located in San Fernando. Tenants there include tenants Tres Hermanos, IHOP, Starbucks, El Pollo Loco, Western Dental, H&R Block and Curves for Women.

Two clients that both own property at the new Centre Pointe Marketplace in Valencia retained Coreland to manage assets that total 33,000 sf. Centre Pointe Marketplace, which recently opened, is a 105,000-sf center anchored by Office Depot and Bank of America.