Lee & Associates Central Coast has secured Target as the main anchor tenant for the Prefumo Creek Commons shopping center in San Luis Obispo.
Clarice Clarke and Stephen Leider represented the property owner in the transaction involving the sale of about 10 acres of land to Target, which is now building its 140,000-square-foot store.
Situated on the corner of Los Osos Valley Road at Froom Ranch Way in San Luis Obispo, the Prefumo Creek Commons is a 191,025-square-foot power center just off Highway 101. Target will be responsible for building its store on the property, while the local Madonna family will build out the balance of the center.
“We are thrilled to have finally completed the major part of this project,” said Clarke, principal of Lee & Associates Central Coast. “It has been a lengthy process getting everything in place, but persistence has paid off and now a fabulous new regional center will be built to serve the Tri-Counties.”
Other tenants occupying the remainder of the center will be announced soon, and Target’s grand opening is expected for the spring/summer of 2011.
The Prefumo Creek Commons is located directly across from the Irish Hills Plaza shopping center, which boasts key retailers such as Costco, Home Depot, OfficeMax, PetSmart, BevMo! and Old Navy.
Further Irish Hills leasing activity from Lee & Associates Central Coast has recently added the 26,000-square-foot TJMaxx superstore and New Frontiers Natural Foods Market of more than 30,000 square feet.
Lee & Associates Central Coast provides commercial real estate brokerage services with offices in Santa Barbara, San Luis Obispo and Santa Maria, and has participated in many of the very large transactions closed on the Central Coast.
— Natalie Wagner is the marketing director for Lee & Associates Central Coast.