BEST RETAIL LEASE DEAL OF THE YEAR
NORTHPARK VILLAGE SQUARE
27716 McBean Pkwy., Valencia
Square Footage: 16,708
Cody Chiarella of CBRE facilitated a 16,708 square foot lease on behalf of the landlord and secured a lease with Planet Fitness at Northpark Village Square in Valencia. This deal is notable not only for its size, but also because Chiarella was able to successfully secure a tenant for the large junior anchor space within a 15-month period from Rite Aid’s vacate and bankruptcy notice dates.
The swift turnaround was achieved through proactive market strategies and effective collaboration with the landlord and the city of Santa Clarita to make minor zoning changes, allowing Planet Fitness to enter the market.
BEST RETAIL LEASE
7011 Topanga Canyon Blvd., Canoga Park
Square Footage: 2,800
Arby’s missed out on its option and did not want to pay market rent rate. illi was hired to fill vacancies. Stefan Siegel aggressively marketed the location to national retailers and QSRs. The team received interest from a number of major food chains, including Jack in the Box and Dunkin Donuts, but Raising Cane’s offered to pay the highest rent, beating out other contenders. This location is the first in the West Valley.
BEST RETAIL LEASE
4114 Sepulveda Blvd., Unit I, Culver City
Square Footage: 4,056
The lease transaction at 4114 Sepulveda Blvd., Unit I, Culver City, involves Pacific Dental securing a 4,056 square foot space in a prestigious Class A center. This transaction transforms a former Chase Bank into a modern dental practice, showcasing the adaptability of retail spaces. This deal exemplifies strategic leasing that enhances community accessibility to cutting- edge dental services. Pacific Dental’s operations will also create new jobs, further contributing to the local economy.