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Hill Street Development SiteCentre Urban executed the sale of 717-759 North Hill Street in January 2021 consisting of approximately 82,120 square feet of land located within the rapidly expanding Chinatown market near Downtown Los Angeles. The property is zoned C2-2D Regional Commercial and Transit Oriented Community (TOC) Tier 3, a key designation for sites within a half mile of a transit station. As part of our investment management platform, Centre Urban is currently advising the lender of this project as it is proceeding through the entitlement process.
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Lincoln Heights Portfolio
Centre Urban executed the sale of 2010 Lincoln Park Boulevard in October 2021 consisting of a portfolio of five buildings across 2.6 acres in the East Los Angeles neighborhood of Lincoln Heights. The largest parcel included a healthcare facility housing 78 beds. The property is currently seeking entitlements for the development of 84 multifamily units. As part of our investment management platform, Centre Urban continues to oversee the asset on behalf of the lender.
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Chinatown Professional Center
Chinatown Professional Center is an approximately 65,000 square foot medical office building located in the Downtown Los Angeles-adjacent market of Chinatown. Centre Urban was brought in by the current owner to develop and determine best strategies to maximize asset value. Centre Urban previously advised the owner as they executed a divestment strategy, which was successfully completed in 2022.
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Centre Urban was selected as one of four finalists for the joint-development of the future Los Angeles Metro Little Tokyo/Arts District Station. Centre Urban’s vision featured 20,000 square feet of creative office space within a four-story building. An “urban village” would have anchored the concept, with a total of six retail spaces, a destination restaurant, and an 18,000 square-foot “food village”. LA Metro ultimately decided not to proceed with a joint-development strategy.
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Chapman Avenue RFP
Centre Urban led the RFP team that included Innovative Housing Opportunities and Western Pacific Housing to submit a proposal to redevelop an approximate 8.4-acre site located in Orange County, CA. The proposed project was designed in three phases: (1) affordable housing and services for seniors, (2) affordable apartments for families and, (3) market-rate townhomes targeting first time homebuyers.
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Located in the Palm Springs-adjacent market of Desert Hot Springs, Pierson Plaza was built as part of a public-private partnership with Riverside County and the City of Desert Hot Springs. Riverside County’s Department of Public Social Services received the property as a build-to-suite tailored for its use.
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Monticello Residences
Located in the heart of the master-planned community of Valencia, California, across from Valencia Town Center, Monticello Residences is a five-story mixed-use building with a total of 60 apartment units and approximately 10,000 square feet of commercial space. Centre Urban, through its principals, owns a limited equity stake in Monticello Residences.
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Stevely Avenue Apartments
Located in the West Los Angeles neighborhood of Baldwin Hills Estates, Stevely Avenue Apartments is a 8-unit multifamily complex. The Stevely Avenue Apartments is located within a five-mile radius of the Kenneth Hahn State Park, Jim Gilliam Recreation Center, Baldwin Hills Elementary School, brand new Kaiser Permanente and the Baldwin Hills shopping mall.
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Rock Hill Retail CenterRock Hill Retail Center is a 4,800-sf retail center in St. Louis, Missouri. Centre Urban, through our investment management platform, was engaged by a small family office to assess and manage their national real estate portfolio, of which Rock Hill Retail Center was included. Centre Urban successfully navigated through the COVID lockdown, cleaned up operating financials and executed on the portfolio strategy leading to the disposition of the property in December 2021.
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Dollar General #718Dollar General #718 was built in 1997 with a corporate-guaranteed NN lease to Dollar General (NYSE: DG), a publicly-traded Fortune 500 Company with an S&P Investment Grade Credit Rating of BBB. Centre Urban, through our investment management platform, was engaged by a small family office to assess and manage their real estate portfolio, of which Dollar General #718 was included. Centre Urban successfully executed on the portfolio strategy leading to the disposition of the property in November 2021.
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El Centro Sonic Drive-InCentre Urban, on behalf of an international investment management client, facilitated the acquisition, management and repositioning of Sonic Drive-In in El Centro. The property features excellent frontage and access on the busiest retail corridor of El Centro, the population, business and governmental center of Imperial County California. Sonic Drive-In (NYSE: SONC) is the nation’s largest chain of drive-in restaurants with more than 3,500 stores.
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