REAL ESTATE

New tenants join University Village

BY Staff Writer

Riverside, Calif. — NewMark Merrill Cos. said that it has leased more than 27,000 sq. ft. of new tenants at the University Village shopping center, located in Riverside, Calif.

University of Riverside added 21,672 sq. ft. to expand its educational services; Cali Basil & Oven signed a 7-year lease for a 2,589-sq.-ft. space located near 7- Eleven; Fire and Ice Land restaurant signed a 5-year lease for 1,795 sq. ft.’ and Haagen Dazs signed a 5-year lease for an 1,100-sq.-ft. space near Quiznos.

The 178,020-sq.-ft. open-air community center is also tenanted by Regency Theatres, Starbucks, Fatburger, Rubio’s, Quizno’s, Service Plus Credit Union and Juice It Up.

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N.Vartas says:
Oct-11-2012 02:09 pm

It is quite good news for the Riverside. But if this open-air community center already have such serious tenants as Regency Theatres, Starbucks - it is very successful. However, these centers could use a little more wood and look more natural as timber homes or wooden saunas, but of course it all depends.

N.Vartas says:
Oct-11-2012 02:09 pm

It is quite good news for the Riverside. But if this open-air community center already have such serious tenants as Regency Theatres, Starbucks - it is very successful. However, these centers could use a little more wood and look more natural as timber homes or wooden saunas, but of course it all depends.

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REAL ESTATE

Donahue Schriber launches Mandalay Village Marketplace renovation

BY Katherine Boccaccio

Port Hueneme, Calif. — Costa Mesa, Calif.-based Donahue Schriber said it has started the first phase of a $1.5-million renovation of Mandalay Village Marketplace, a 193,964-sq.-ft. shopping center in Port Hueneme, Calif.

The Ralphs and CVS Pharmacy-anchored center also includes Petco and Do It Best Hardware.

Mandalay Village Marketplace was purchased by Donahue Schriber at the beginning of 2012 as part of a strategic acquisitions plan following the retail owner and developer’s $1.2 billion recapitalization last year.

"Our overall goal is to reinvigorate the shopping center and create a better shopping experience for our customers,” said Donahue Schriber’s chief investment officer David W. Mossman.

The renovation will include new paint, enhanced common area spaces, new landscaping and storefront embellishments that will embrace the center’s nautical architecture and complement its ‘Cape Cod’ styling. The center was originally built in three phases between 1989 and 2005.

Donahue Schriber purchased the center at the beginning of this year when it was 81% leased. The company said it has aggressive leasing goals to take Mandalay Village Marketplace to a 95% lease-up in the near future.

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REAL ESTATE

Sleep Experts to open new store in Hurst, Texas

BY Staff Writer

Dallas — X-Team partner Venture Commercial said that mattress retailer Sleep Experts has signed a lease to open a new store in Hurst, Texas, at the Shops at North East Mall, which is owned by Simon Property Group.

The 4,305-sq.-ft. store is slated to open by the end of July.

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