Present Value Properties, Inc., a full service retail real estate brokerage, and consulting firm headquartered in Tustin, Calif., announced today that it has represented self-service yogurt chain Menchie's Frozen Yogurt franchisee in a lease transaction in San Mateo County in Belmont, Calif.
Menchie's Frozen Yogurt of Encino, Calif. signed a 5-year lease for 1,234 square feet at the Belmont Village Shopping Center located at 1200 El Camino Real in Belmont, Calif. The lease term is 5 years with two 5-year options. Menchie's is expected to open in fall 2012, and will join tenants Safeway, Peet’s Coffee, AT&T, Game Stop, Toto’s Pizza and Supercuts at the Belmont Village Shopping Center. AJ Schrader of Retail West, Inc. of San Francisco, Calif., represented the landlord, S-F Belmont, LLC of Oakland. Britt Nelson, based in Present Value Properties' Denver office, represented the Menchie’s franchisee. This is the franchisee's first location.
According to Nelson, with the Belmont location, Menchie’s will have 3 stores in operation in the San Francisco Bay Area. There are currently a total of 118 stores open in the US and Canada, and over 190 units 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 Nelson
"Menchie’s offers the purest and creamiest 'real' yogurt flavors, featuring live and active cultures," said Nelson. "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."
Nelson said that the Menchie's franchisee selected Belmont Village Shopping Center due to its great mix of co-tenants including grocery store, national retailers and restaurants, as well as a several independent shops. Menchie’s will provide a dessert option for all those eating at restaurants in the center and a snack option for all the shoppers running errands in the center.
Menchie's franchise also stated that the extremely large number of schools in this area will work to Menchie's advantage. By following the Menchie’s model of partnering up with the schools, Menchie's will appeal to all the families in the community in search of a healthy, wholesome, kid-friendly place to come for frozen yogurt.
"Competition in this area is scarce. After researching the nearby frozen yogurt shops, we found that they are limited in their offerings and/or hours of operation. What they lack in selection, quality, and memorable in-store experience, we are more than confident our Menchie’s shop will deliver. The absence of any formidable competition will enable Menchie’s to dominate the frozen yogurt market in this area," Nelson said.
"By developing a Menchie’s in the Belmont Village Center, they will capture all customers in the area looking for a great-tasting yogurt, in a shop that is fun, vibrant, family-friendly, and easily accessible. We feel it fills a void that the market needs, which is quality frozen yogurt for the entire family," Nelson said.
"I truly believe that Menchie’s and this franchisee will serve the residents of Belmont and surrounding communities very well with their emphasis on customer service and high quality dessert," Nelson said.
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 and the southwestern United States including GoldMax, TGIF, Supercuts, Jack in the Box in both Southern California and St. Louis, Habit Burger Grill, Coffee Bean & Tea Leaf, and Pizza Hut franchisees in Southern California, Phoenix, Dallas and Kansas. The firm currently has more than 650,000 square feet of retail space listed throughout Southern California.