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Tustin, CA, United States, 2011/06/14 - Coreland Companies negotiated three quick serve restaurant leases in Southern California, totaling 7,300 sq. ft. with a total value of more than $2.5 million. The leases were with Burger King, Five Guys Burgers & Fries and Waba Grill.
Coreland Companies of Tustin, Calif., one of the largest private real estate service companies based in California, announced today that its brokerage division has recently negotiated three quick serve restaurant leases in Southern California, totaling 7,300 square feet with a total value of more than $2.5 million. Coreland represented the property ownership in all three transactions.
Burger King signed a 10-year lease for 3,300 square feet at the McFadden Centre in Santa Ana. The lease is valued at approximately $1,100, 000. McFadden Retail Centre, which is exclusively marketed and leased by Coreland, is a 30,000-square-foot multi-tenant strip center located at 1714 E. McFadden Avenue and Lyon Street; and part of a 180,000-square-foot business park. Matt Hammond, Director, Retail Brokerage at Coreland represented the landlord, The Muller Company of Laguna Hills. The tenant represented itself and is expected to open later this month.
At Santa Fe Springs Plaza in Whittier, Coreland's Hammond and Ben Terry negotiated two leases on behalf of the landlord, Carmentia Plaza LLC of Los Angeles. Five Guys Burgers & Fries signed a 10-year lease for 2,500 square feet. The lease is valued at approximately $1,045, 000. John Romm of Commercial West, Inc. of Corona del Mar represented the tenant. Five Guys Burgers & Fries is slated to open in August.
Waba Grill signed a 5-year lease for 1,500 square feet at Santa Fe Springs Plaza. The lease is valued at approximately $405,000. The tenant represented itself and is now open. Santa Fe Springs Plaza is located at 10138 Carmenita Road and Telegraph Road in Whittier. The 160,000-square-foot neighborhood shopping center is anchored by Food 4 Less and dd’s Discounts.
Steven Hogberg, who heads up the brokerage division, says,“We continue to see very healthy activity in the quick serve food category. Combine that with good real estate, and you'd think we were still in 2007 with strong rents and competition for sites!"
Coreland Companies is a full-service commercial real estate company with expertise in retail, office and industrial properties. Coreland Companies is based in Tustin, California with offices in Utah and throughout Southern California.