Client Name: Soledad Entertainment Center, LLC
Building Name: Soledad Entertainment Center
Location: 18740-18842 Soledad Canyon Road, Santa Clarita, CA
Square footage: 77,647
Type Building: Retail
Soledad Entertainment Center is a 77,647 square foot shopping center in Santa Clarita with 20 retail stores including a theater, inline shops and three pads. The project is a joint venture between an entrepreneurial investor and the local school district.
What were we hired to do?
Morlin was hired in 1998 to manage the new project and worked with the building broker to get the project leased and to assist with move-in of the tenants
Why were we hired?
We were hired because of our retail property management expertise and referral from a mutual business contact.
What were the problems with the center?
As a new center, our goal was to put into place all of the vendors who would service the property, transition the property from new construction to management and work with leasing to get the project leased.
What did we do to solve these problems?
From an operations stand point, we did not have any issues. The bigger challenge was the leasing and obtaining the correct mix of tenants for the project. The center was planned as an entertainment center that would hopefully have significant foot traffic. This was not the case and several tenants who initially leased space did not work out. New tenants were secured who were destination type tenants who did not rely as much on foot traffic. The space was leased and today the project is 92 % leased.
Did we do something particularly innovative?
- Change in leasing strategy
Did the client expand the relationship with us as a result of our work?
- No – Client does not have additional projects