Avison Young negotiates 12,000-sf retail lease with L.A. Care Health Plan at Santa Fe Plaza in El Monte, CA11 Nov 2020
Los Angeles, CA – Avison Young announced today it has negotiated a 12,000 square-foot retail lease at Santa Fe Plaza, a retail center located at 3570 Santa Anita Avenue in El Monte, CA. The 10-year lease is with L.A. Care Health Plan, the largest publicly operated health plan in the country. The space will be used as its L.A. Care/Blue Shield Promise Community Resource Center in El Monte.
Avison Young’s Andrew Berk, a Principal in the company’s north Los Angeles office, represented the landlord, Positive Investments. The tenant was represented by Cody Chiarella of CBRE.
“We had a significant amount of interest from other retail brands that were suffering from weakened balanced sheets largely due to the pandemic. We liked L.A. Care as it will provide long-term strength and customer crossover traffic for the center,” said Berk.
With this lease to L.A. Care, Santa Fe Plaza is now 96 percent occupied. The 56,019-sf neighborhood retail center features a number of tenants including Allstate Insurance, H&R Block, Papa John’s Pizza, Rent-A-Center, and another new tenant, Labor Finders.
Berk added, “The landlord will be performing very minor tenant improvements, and we were able to negotiate a 10-year deal at a fair rate which created a winning situation on both sides in this challenging market.”
L.A. Care currently operates seven locations in Los Angeles County, four in partnership with Blue Shield of California Promise Health Plan, with plans to have 13 locations by the end of 2021. The resource centers act as a community hub offering health and wellness programming to plan members, as well as the surrounding community, helping people be active, healthy and informed.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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For more information:
- Darcie Giacchetto, Places Public Relations, 949.278.6224