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COMMERCIAL REAL ESTATE NEWS
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Fairway Center in Brea is now fully leased

Voit Real Estate Services closed 3 new deals in a three-month period.

By Brandon RussellPublished: April 28, 2011 02:53 PM

Voit Real Estate Services' Harty Coppin Project Leasing Team has brought the 145,000-square-foot Fairway Center in Brea from 29 percent to 100 percent rented in a three-month period. This was achieved through three new deals with VPI Pet Insurance, Beazer Homes and Walgreens.

The three-man Harty Coppin team - John Harty, senior vice president; Mike Coppin, vice president; Xavier Colombi, associate – was chosen to market the project by a joint venture of LBA and CIGNA, which recently acquired the property.

The goal going into the project was simple: Fill up vacant space at acceptable market rental rates, and this in turn would increase the building’s overall value.

“Our team was able to relay the change of ownership to the market in a convincing and positive way and quickly identified quality tenants to occupy the available space,” said Harty. “Voit seamlessly negotiated with all three tenants and exceeded LBA and Cigna’s expectations by achieving fully leased status within 90 days of receiving the assignments.”

The three lease transactions include a seven-year, 76,046-square-foot lease for Brea's VPI Pet Insurance, which covers dogs, cats, birds and exotic pets nationwide; a five-year, 13,203-square-foot lease for Beazer Homes, a 50-year-old residential builder headquartered in Atlanta; and a 10-year, 10,878-square-foot lease for Illinois-based Walgreens. The drugstore chain has more than 700 stores across the country.

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