Summary:

Brea Plaza Shopping Center is located on Imperial Highway at the 57 (Orange) Freeway. It benefits from excellent visibility and easy freeway access. On the opposite side of the freeway is the Brea Mall. When purchased, it was anchored by Albertson’s
Supermarket, Edward’s Theater and Thrifty Drugs. Although it only had about 20% vacancy several tenants were not paying rent. The property suffered from significant deferred maintenance and a poor layout.

Challenge:

The center’s site plan was poor. Pad buildings
blocked visibility into the interior of the center and the supermarket was old, small and not performing well.
It would not be possible tostabilize and upgrade the center without major site plan modifications. Seven tenants would have to be relocated or bought out to make the renovation possible.

Solution:

A workable site plan was developed to make the property more functional and visible to shoppers. Additionally, new color patterns were introduced and several secondary anchor tenants were targeted for the redeveloped property.

Results:

The new site layout generated strong tenant demand. Computer City took a 21,000 square foot space in the center and Edward’s Theaters expanded. Shop space filled quickly and rents escalated. The center was 100% occupied within 12 months of completion of the renovation.