243,000-square-foot neighborhood center located at Las Posas Road and Arneill Road in Camarillo.
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Poorly configured pad buildings that lacked upfront parking and visible building signage from major arterials.
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Dated architectural style and colors.
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Overall vacancy at the center was 15% with some buildings as high as 50%.
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Base rents for the center were trending 55% lower than competing centers.
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Pad buildings were demolished and reconfigured providing visible signage from inside center as well as from street.
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Storefront facades were replaced allowing for greater shop visibility.
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Center's color palette and architectural theme was updated.
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Added four patio elements to provide outdoor dining and gathering areas.
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95 percent occupancy level.
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Renovation enticed national and regional tenants to sign leases thereby
increasing center draw. Center is now home to Starbucks, Panda Express,
Coldstone Creamery and Quizno's.
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Average base rents are at market.
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Since Donahue Schriber took over ownership and completed the renovation,
Albertsons sales have increased 12% and Rite Aid has seen a 20% increase.
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A pad building that sat vacant for seven years has been leased to Affinity bank.
200 E. Baker Street, Suite 100, Costa Mesa, Ca 92626 Phone: (714) 545-1400 Fax: (714) 545-4222
