{"id":1004310209,"date":"2019-03-21T03:20:11","date_gmt":"2019-03-21T11:20:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004310209"},"modified":"2019-03-21T03:20:11","modified_gmt":"2019-03-21T11:20:11","slug":"oc-shopping-center-lands-101m-in-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/oc-shopping-center-lands-101m-in-financing\/","title":{"rendered":"OC Shopping Center Lands $101M in Financing"},"content":{"rendered":"
\"\"<\/a>

La Habra Market Place<\/p><\/div>\n

DJM Capital Partners Inc. has received $101.3 million in non-recourse bridge debt for La Habra Market Place, a 37-acre, open-air shopping center in La Habra, Calif. George Smith Partners facilitated the financing, which replaced existing senior and mezzanine loans.<\/p>\n

\u201cThis is a large property in the midst of a successful repositioning,\u201d <\/em>Steve Bram, George Smith Partners co-founder & principal, said in a prepared statement. \u201cThe center is situated in a prime location within the La Habra market.\u201d<\/em><\/p>\n

The money will be used to improve the 374,000-square-foot property, including a full improvement package for a Regal Cinema lease extension which will bring a wraparound screen to the 16-screen cinema. It also covers future capital expenditures and leasing commission costs associated with the final stages of the property\u2019s stabilization.<\/p>\n

About $4.7 million of the financing will be utilized to fund the development of a future pad at the corner of Imperial Highway and Beach Boulevard. This pad has already been pre-leased to both Jimmy John\u2019s and Starbucks.<\/p>\n

Located at 1641 W. Imperial Highway, the property is anchored by Sprouts and Smart & Final, and is 96 percent leased. The tenant roster also includes Petco, Ulta, Hobby Lobby, Ross Dress For Less and LA Fitness.<\/p>\n

Retail strong in Orange County<\/h2>\n

Marcus & Millichap\u2019s most recent Orange County retail market report revealed that consistent growth in high-wage sectors supported a robust retail environment. Vacancy decreased in the latter part of 2018 to one of the lowest rates since before the recession, adding to a rise in rents. According to Bram, the area has shown strong retail and residential growth over the course of the past year.<\/p>\n

\u201cLa Habra\u2019s retail sector is demonstrating a robust growth trajectory, indicating that strong grocery-anchored centers like this one are a smart investment,\u201d <\/em>he said. \u201cThe market saw the introduction of a 17,000 square-foot Aldi prototype store in January 2018 that marked the beginning of that retailer\u2019s expansion in the region, showing that retail fundamentals are strong there.\u201d<\/em><\/p>\n

In January, George Smith Partners became bicoastal<\/a> as the Los Angeles-based firm just established a presence on the East Coast with the opening of an office in Midtown Manhattan.<\/p>\n

Image courtesy of Brower Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

George Smith Partners facilitated the non-recourse bridge debt for DJM Capital Partners, with the package replacing existing senior and mezzanine loans.<\/p>\n","protected":false},"author":451,"featured_media":1004310218,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21742,34267,21749,15],"tags":[44795,33306,44798,40919],"class_list":["post-1004310209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-latest","category-orange-county","category-retail","category-west","tag-djm-capital-partners","tag-george-smith-partners","tag-la-habra-marketplace","tag-steve-bram"],"acf":[],"yoast_head":"\nOC Shopping Center Lands $101M in Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/oc-shopping-center-lands-101m-in-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OC Shopping Center Lands $101M in Financing\" \/>\n<meta property=\"og:description\" content=\"George Smith Partners facilitated the non-recourse bridge debt for DJM Capital Partners, with the package replacing existing senior and mezzanine loans.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/oc-shopping-center-lands-101m-in-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-21T11:20:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/La-Habra-Market-Place-e1553166980196.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oc-shopping-center-lands-101m-in-financing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oc-shopping-center-lands-101m-in-financing\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"OC Shopping Center Lands $101M in Financing\",\"datePublished\":\"2019-03-21T11:20:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oc-shopping-center-lands-101m-in-financing\\\/\"},\"wordCount\":383,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oc-shopping-center-lands-101m-in-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/03\\\/La-Habra-Market-Place-e1553166980196.jpg\",\"keywords\":[\"DJM Capital Partners\",\"George Smith Partners\",\"La Habra Marketplace\",\"Steve Bram\"],\"articleSection\":[\"Featured\",\"Finance\",\"News\",\"Orange County\",\"Retail\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oc-shopping-center-lands-101m-in-financing\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/oc-shopping-center-lands-101m-in-financing\\\/\",\"name\":\"OC Shopping Center Lands $101M in Financing - 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