REP Commercial Negotiates Two Leases at Foothill Village in Fontana, CA; Newly Completed Shopping Center is Now 95% Leased
June 07, 2006 (PRLEAP.COM) Business NewsIRVINE, CA – REP Commercial, Inc., a wholly-owned subsidiary of Real Estate Partners, Inc., announced today the company negotiated two leases at the recently completed Foothill Village in Fontana, CA. The project is now approximately 95 percent leased.
REP Commercial is a full-service commercial real estate brokerage and management services company specializing in the sale, leasing, repositioning, management and disposition of client properties.
New tenants that have recently signed leases at Foothill Village include Dr. Nelson Lee, a Chiropractor and Acupuncturist, and the Black Iris Studio, an art gallery. Dr. Nelson Lee signed a five-year lease for 1,682 square feet and was represented by Brian Russell of REP Commercial in the lease transaction. The new business will be called New Life Clinic Acupuncture and Chiropractic.
Black Iris Studio, also a new business, signed a five-year lease for 1,160 square feet and represented itself in the lease transaction. The value of the leases could not be disclosed. The tenants are expected to open later this month, June 2006.
The new 27,000-square-foot retail development, which was completed in February 2006, is located at the southeast corner of Foothill Boulevard and Redwood Avenue in Fontana. Foothill Village is adjacent to a newly completed 68-unit senior apartment complex and located one-half east of a new development planned for 131 single-family homes and 110 apartments.
Russell, Thomas Tway and Terry Parker, based in REP Commercial’s Irvine office, are the exclusive marketing and leasing agents for Foothill Village and represented the landlord, RG Centers, LLC of Fontana in the lease transactions.
“We presently only have a fully entitled pad for a fast-food drive-through use, which can accommodate up to a 2,400-square-foot building,” says REP Commercial’s Brian Russell. “Lease rates are very reasonable for this market and the cost of new construction.”
Etiwanda Development of Fontana is the developer and general contractor. William Fox Group of Ontario is the project’s architect.
REP Commercial is a dynamic, full-service commercial real estate brokerage and management services company specializing in the sale, leasing, repositioning, management and disposition of client properties. As a majority owned subsidiary of one of the fastest growing privately funded real estate investment and management firms in the nation, Real Estate Partners, Inc., REP Commercial capitalizes on its highly experienced executive teams, a nationwide network of brokers and affiliates, and proprietary technological advantages to provide exceptional performance in every facet of its business.
Headquartered in Irvine, California, the firm aggressively pursues investor and tenant opportunities in all major real estate markets. Providing clients with real estate service unparalleled in the industry, REP Commercial maximizes each opportunity through a suite of creative value-added services, industry relationships and market knowledge. For more information, visit www.repcommercial.com or call 949.585.7640.
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