Present Value Properties, Inc., a full service retail real estate brokerage, and consulting firm headquartered in Tustin, Calif., announced today that it has represented Menchie's in six lease transactions. Sharon Courtway, SCLS, Vice President, Bernie Labowitz, Senior Vice President, and Greg Fisher, President of Present Value Properties, represented the self-serve frozen yogurt franchisee. Menchie's has over 100 locations open in the US and 50 under construction. Present Value Properties is Menchie's exclusive real estate representative in Southern California.
A Menchie's franchisee signed a 5-year lease for 1,637 square feet at 1267 North Tustin Street in Orange, as part of the multi-tenant pad building at the corner. The center is anchored by Petco and Michaels. Menchie's will open in the first quarter of 2012. Present Value Properties represented both the landlord and tenant in the lease transaction.
In Whittier, Menchie's franchisee signed a 5-year lease for 1,250 square feet at Santa Fe Springs Plaza, at 10122 Carmenita Road. Menchie's will open in early 2012. Ben Terry of Coreland Companies of Tustin represented the landlord in the lease transaction. Santa Fe Springs Plaza, which is anchored by Food For Less, is currently undergoing a remodel at this time and will welcome DD Discounts soon, along with many new food tenants.
In Torrance, Menchie's franchisee signed a 5-year lease for 1,572 square feet at Rolling Hills Plaza, located at Crenshaw and Pacific Coast Highway. Zachary Card, from CBRE's El Segundo office, represented the landlord in the lease transaction. The 400,000-square-foot community center is anchored by Whole Foods, Bed Bath & Beyond, BevMo!, Trader Joe's, and AMC Theatres. Menchie's will open by late November.
In Downey, Menchie's franchisee signed a 5-year lease for 1,500 square feet at Downey Landing, located at 12141 Lakewood Boulevard. Chris Walton of Cushman & Wakefield in Irvine represented the landlord. Downey Landing is a 376,000 square foot community center anchored by Ross, Marshalls, Best Buy, Old Navy, Staples, Bed Bath & Beyond, DSW, CVS, Elephant Bar, and Chili's. Menchie's opened last month.
In El Cajon, Menchie's franchisee signed a 5-year lease for 1,582 square feet at 1170 E. Main Street in a freestanding building next to a Jack-in-the-Box. Brian Jenkins, ECP Commercial of San Diego, represented the landlord. Menchie's opened last month. This is Menchie's third location in San Diego County.
In Northern California, Menchie's franchisee signed a 5-year lease for 1,500 square feet at Sand Creek Crossing, 2530 Sand Creek Road in Brentwood, Calif. Menchie's will open in early 2012.
Menchie's is the fastest growing self-serve frozen yogurt franchise worldwide. "Menchie’s customers are able to serve themselves the perfect yogurt mix by choosing from a wide variety of delicious flavors, and more than 40 toppings with everything from chocolates, candies, and hot fudge, to granola and fresh seasonal fruit. You can mix all the flavors and toppings you want and only pay for what you take! When you’re finished crafting the perfect yogurt, just place it on the scale and pay per ounce," said Courtway.
"Menchie’s offers the purest and creamiest 'real' yogurt flavors, featuring live and active cultures," said Courtway. "Low in fat, and high in calcium, Menchie’s Frozen Yogurt makes for both the perfect snack, or a delicious meal in itself. Menchie’s also serves a variety of tasty fruit sorbets, as well as low-carb and sugar-free yogurts, and offers fresh-made waffle bowls."
"Menchie's is a great concept that will be around for a very long time because of their unique focus on children and families," Fisher said.
Present Value Properties is working with over 25 franchisees in California, representing a total commitment of over 50 stores in the region. "Menchie's franchisees are pushing forward as if there is no recession and we love how aggressive they are in making deals happen," said Fisher. "Every time a new store opens, we get a flood of new franchisees so we look forward to doubling the number of new stores again next year."
Menchie's creates lasting memories through its mission statement to make every guest smile and by being the friendliest place on earth. Providing an unparalleled guest experience that is warm, welcoming, tasty and fun, Menchie's stores contain interactive elements such as chalkboards for kids, party rooms, enjoyable music, arts & crafts, and indoor/outdoor seating areas where friends and family gather. Placing a focus on community before commerce, Menchie's franchisees actively donate thousands of dollars to local school programs and charitable organizations. With its own proprietary frozen yogurt label, Menchie's guests create their own unique combinations from over 100 rotating yogurt flavors and 70 rotating toppings. In July 2010, Menchie's was awarded 1st place in Restaurant Business Magazine's annual 'Future 50' list, ranking it the fastest-growing franchise in the restaurant industry. In 2011, the company nearly repeated its top mark, achieving 2nd place on the list. Menchie's has 100 locations open, with an additional 120 currently in development, and is poised to total more than 250 locations in 2012. Menchie's (menchies.com) has also begun international expansion, with two stores open in Canada, and has plans to operate stores in Mexico, Puerto Rico, Trinidad and Tobago, the United Kingdom, Egypt, Jordan, Saudi Arabia, Kuwait, Qatar, United Arab Emirates, India, China, Japan, Australia and New Zealand.
About Present Value Properties, Inc.
Founded in 1998 by Gregory A. Fisher, Present Value Properties, Inc. (pvpinc.com) is a full service real estate firm providing retailer and landlord representation, development and entitlement services, and consulting services. Headquartered in Tustin, Calif., Present Value Properties exclusively represents a variety of chain retailers throughout Southern California including Menchie’s Frozen Yogurt, Southern Pizza Hut, Gold Max, and Payless ShoeSource. Currently, Present Value Properties has 650,000 square feet of retail space listed throughout Southern California.