Coreland Companies Negotiates $1.2 Million Lease at The Plaza Office/Retail Center in Huntington Beach, CA; Gyu-Kaku Japanese Restaurant to Open in October 2006

June 20, 2006 (PRLEAP.COM) Business News
TUSTIN, CA – Coreland Companies of Tustin, Calif., one of the largest real estate service companies based in California, announced that its leasing / sales division has negotiated a lease with a Japanese restaurant at the landmark The Plaza, a 305,000-square-foot office tower/retail center in Huntington Beach, Calif.

As the exclusive leasing agent for The Plaza, Steven Hogberg and Matt Hammond of Coreland Companies negotiated a 10-year, 2,909-square-foot lease with Gyu-Kaku of Japan for a total consideration of approximately $1,220,552. Joanne Sumabat-Smith of Beitler Commercial of Los Angeles represented Gyu-Kaku. First Huntington Center, LP is the owner.

The tenant is expected to open in early October 2006 at 7862 Warner Avenue, Unit 109.

The Plaza is located at the southwest corner of Beach and Warner. The property consists of a 15-story, 205,000-square-foot office tower and approximately 100,000 additional square feet of retail buildings, which is anchored by Bally’s Health Club, and encompasses multiple restaurant pads and a multi-tenant retail building.

"This lease transaction brings the nearly 100,000-square-foot retail portion of the mixed-use project to 100 percent leased,” says Coreland’s Leasing / Sales Division Vice President Steven Hogberg. “The office tower is 91% occupied and only has 20,000 square feet remaining spread over eight suites.”

In addition to The Plaza, Coreland Companies’ leasing portfolio of mid-rise office buildings includes the nearby One Pacific Plaza in Huntington Beach, a 400,000-square-foot, four-building office complex with two restaurants and a 1,500-space parking structure, where leasing activity is also very strong.

Tustin, Calif.-based Coreland Companies is a full-service commercial real estate company with expertise in retail, office and industrial properties.

Coreland Companies is one of the largest privately held commercial real estate service companies based in California with a current portfolio exceeding 100 properties and totaling more than 13 million square feet. Coreland Companies is based in Tustin, CA with offices throughout California.

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