GLENDORA, Calif., Oct. 31, 2018 (GLOBE NEWSWIRE) — Storm Properties Inc. is pleased to announce the signing of three new retail leases at Glendora Marketplace, located at Lone Hill Avenue and Gladstone Street. The new tenants will bring the center to 100 percent occupancy, of which 60 percent are national retailers.
Already operating is Blaze Pizza, while Fatburger and Saj Bakery have begun renovating and are scheduled to open in winter 2019.Situated at a key intersection in Glendora, the center experiences more than 49,000 vehicles per day, and more than 112,000 residents live within a three-mile radius. It is also a part of a nearly 800,000 square-foot master-planned retail power center featuring major anchors The Home Depot, Sam’s Club, Kohl’s, Best Buy, AMC Theaters and other national retailers.“We’re excited to be 100% leased. In the last year, we have made significant capital improvements to the center, resulting in the tremendous amount of interest received from prospective tenants,” said Jay Ahluwalia, President of Storm Properties. “We want to thank Jason Ehrenpreis of Centers Business Management for acting as the leasing broker for Storm Properties,” Ahluwalia addedStorm Properties currently manages a diverse portfolio of industrial and retail properties and is targeting significant growth through further acquisitions. Its efforts are focused on core-plus to value-add retail and industrial properties in the $5-million to $30-million range in major Western metro markets. Additionally, Storm is seeking additional land opportunities for residential entitlement and commercial/industrial development.Storm Properties, Inc. is a subsidiary of Torrance-based Storm Industries, Inc., an innovative and entrepreneurial organization with a growing family of companies. Over its 86-year history, Storm Industries, Inc. has evolved from a single brass foundry in Los Angeles to a highly diversified group of businesses operating across the globe.For more information, contact Alan Kwan, Senior Director of Acquisitions, at (310) 986-2432, or via email at [email protected]. Also, visit the website at www.storm-properties.com.Ann Romano
(949) 496-1076; (949) 310-5876
[email protected]A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f736b202-d816-4158-8a71-86c4621010ce