Saturday, September 26, 2020

Lewis Retail Centers Announces Opening of New Grocery-Ancored Center, Construction of new Anchor Tenant, Center Enhancements and Community Events in Upland, CA


Randall Lewis

UPLAND, CA – In a period of time when many retail owners and developers are either holding still or cancelling their plans, Lewis Retail Centers, one of the largest shopping center developers in California and Nevada with 34 dynamic existing centers and more than 10 new projects currently underway, continues to move forward with strong financial investments.

 The investments include opening a new retail center, conducting new tenant construction, enhancing existing centers and conducting programs that give back to the community, according to Randall Lewis, Executive Vice President, Marketing for the Lewis Group of Companies. 

The Marketplace at Calimesa, CA


 Grand Opening and New Tenant Construction

 Lewis Retail Centers has announced the Grand Opening of The MarketPlace at Calimesa, a 105,000 square-foot center in the rapidly developing Riverside County city of Calimesa, CA, anchored by a new Stater Bros. Market.

   Starbucks and Del Taco have also opened and will be followed shortly by the openings of Cold Stone Creamery, Jack in the Box, Modern Nails, Skin Solutions Aesthetics, and Supercuts. 

 “Even during this period, the demand for close-in grocery and casual food have brought an immediate response from the growing number of residents living in this area,” notes Lewis.


  “In fact, The Marketplace at Calimesa has no similar competition for approximately four miles, and the community is thankful we were able to move forward this quickly.”

 One of the company’s strategies from the beginning has been to identify growing residential populations that have no retail, or are under-retailed, so that it can deliver exactly what the community and the cities in which the firm works desire, adds Lewis.

 “The successful results continue to speak for themselves: the new center’s Facebook page received more than 150 extremely positive engagements in response to the opening of the first tenant here.”

Damonte Ranch Town Center, Reno, NV


          In a similar situation, Lewis Retail Centers has begun construction on a Safeway at Damonte Ranch Town Center in Reno, Nevada. 

  The new 62,000 square-foot Safeway will become the third anchor of that center with Home Depot and RC Willey.  Other tenants at the center include CVS, McDonald’s, Twisted Fork and Mountain America Credit Union. Grand opening of the Safeway is anticipated in Spring of 2021.

           “In this market, Lewis Retail Centers has a center with nearly 19,500 households within a three-mile radius,” Lewis says.  “Again, we are meeting demand precisely where the residential population is growing.”



 Existing Center Upgrades

           Lewis Retail Centers has also begun an upgrade to its flagship 850,000 square-foot Eastvale Gateway in Eastvale, California, including a modernization of its appearance with a repaint of the entire center.

           “Our commitment to our tenants, the customers in our communities, and to our city leaders, is one of active management to ensure that each of our centers provides an ever-evolving positive experience,” Lewis explains. “And for us, upgrading our centers in 2020 may be of even greater importance than at other times.”

          With this intention, Lewis Retail Centers also recently renovated its Regency Park Plaza in Vacaville, California, by adding new high efficiency LED lights in the parking area and an updated monument sign with LED panels, as well as repainting the exterior of the center, adding new colored awnings and aluminum louvers for a modernized appearance, and enhancing the centers’ columns with new architectural building lights.

The 850,000 square-foot Eastvale Gateway in Eastvale, CA


 Community Participation

           To assist the communities in which Lewis Retail Centers operates, the company has partnered with Lifestream Blood Bank to host 49 blood drives at 13 of its shopping centers between September and December of 2020.

               LifeStream has served the Inland Empire and surrounding areas since 1951 providing lifesaving blood products and services to more than 80 Southern California hospitals and medical facilities.

 Fresh Amenity for the Future

           With its eye on the future of the centers, Lewis Retail Centers has also added electric car charging stations to several of its centers and is continuing to add additional charging stations in 2021.

Electric car charging stations


 “While electric charging stations have become somewhat expected at large regional shopping centers, Lewis Retail Centers is one of the first retail owners to install these stations at grocery-anchored centers,” Lewis points out. 

  “With our investment in these charging stations, we’re pulling traffic to our tenants by creating an amenity for customers that both attracts them to the center and then extends their length-of-stay.

About the Lewis Group of Companies

Lewis Retail Centers is part of the Lewis Group of Companies. The Lewis Group of Companies is one of the nation’s largest privately held real estate development companies.

 



The Lewis Group focuses on developing mixed-use planned communities and residential subdivisions in California and Nevada, as well as building and owning rental communities, shopping centers, and office and industrial parks. 

 

Established in 1955, the firm is headquartered in Upland, California. 

 

To date, the Lewis Group of Companies has built more than 60,000 residential homes and apartments, and has developed 14.5 million square feet of retail, office and industrial product. 

 

CONTACTS:

Alex Caswell/Judy Brower Fancher

 Brower Group

(949) 438-6262

acaswell@brower-group.com

www.lewisgroupofcompanies.com.


$15.5 million sale of two-building flex office portfolio in Portland, OR closes

Beaverton Creek V is within walking distance of numerous amenities, including the 224-acre Tualatin Hills Nature Park.

PORTLAND, OR – JLL Capital Markets announced it has closed the $15.5 million sale of Beaverton Creek V, a two-building, flex office portfolio in Beaverton, Oregon, a suburb of Portland.

 Buzz Ellis

 JLL represented the seller, Gloria Y Gee Living Trust et al, and procured the buyer, Strategic Office Partners from Arizona (SOP).

 The park has convenient access to public transportation with the MAX Light Rail Station adjacent to the site, and it is within walking distance of numerous amenities, including the 224-acre Tualatin Hills Nature Park.

Beaverton Creek V is fully leased to Fresenius Kidney Care and a world-renowned athletic apparel company, whose world headquarters is just one-half mile from the property, and who occupies the majority of the other buildings within the park.

Adam Taylor 

According to JLL Research, flex office is currently in high demand across Portland’s westside suburbs boasting a low vacancy of 6.4% and more than 75% growth rate in rents in the asset class since 2012.

 The JLL Capital Markets team representing the seller was led by Managing Director Buzz Ellis, Director Adam Taylor and Senior Director Logan Greer.

 “SOP’s acquisition marks a turning point in the Portland commercial real estate market, as it is one of only a few deals to be completed since the onset of COVID-19 in mid-March,” said Taylor.

“The sale of Beaverton Creek V underscores a growing interest amongst buyers in suburban, flex office offerings during the pandemic.”

 

Logan Greer

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

             For more news, videos and research resources on JLL, please visit our newsroom.

CONTACT:

 Kristen Murphy

JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

 jll.com

This 10-property office portfolio totals 1.5 million square feet in Morris County, New Jersey

 
MORRISTOWN, NJ– JLL Capital Markets announced it has arranged $147.72 million in financing for a 10-property office portfolio totaling 1.5 million square feet in Morris County, New Jersey.

Christopher
Peck

JLL worked on behalf of the borrower, a joint venture between Onyx EquitiesTaconic Capital PartnersAxonic Capital and Machine Investment Group, to secure the three-year, floating-rate loan provided by funds managed by the Real Estate Group of Ares Management Corporation (NYSE: ARES).

Loan proceeds were used to acquire the portfolio from Mack-Cali. The sale transaction was represented by JLL’s Capital Markets team.

 The portfolio consists of nine assets in Parsippany: 1, 3, 5 and 7 Sylvan Way; 4, 6 and 8 Campus Drive; 2 Hilton Court and 11 Dryden Way, and 1 Giralda Farms in Madison.   

Michael Klein


Parsippany and Madison are located in Morris County, which is part of the Northern New Jersey office market, which, with more than 152 million square feet, is the 17th largest office market in the United States.

The area is home to numerous Fortune 500 companies and boasts a highly educated workforce as well as superior connectivity and proximity to Manhattan, 40 miles east. 

The portfolio is 84% leased overall to a diverse tenancy including national credit and local tenants. 

 The JLL Capital Markets team representing the borrower included Steven Klein, Christopher Peck, Michael Klein, Jose Cruz and Alex Staikos.

 CONTACT:

Kristen Murphy

JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com