Milan Capital Management Advances Retail Expansion with New Lease
Milan Capital Management ("Milan") and Arc Capital Partners have reached an exciting agreement with dd's DISCOUNTS, a retailer well-known for its affordable offerings. This new lease adds a notable 18,045 square feet to The Plant Shopping Center's retail landscape. By filling a previously vacant spot, the addition not only enhances the shopping center but also greatly contributes to its rejuvenation.
A Major Step for The Plant Shopping Center
This leasing milestone signifies a considerable stride in revitalizing The Plant Shopping Center. The space, strategically located at the intersection of Curtner Avenue and Monterey Road, was long unoccupied; however, dd's DISCOUNTS aims to breathe new life into it by providing a diverse range of products from clothing to home essentials, all at excellent prices.
Community Impact
Chris Nichelson, President of Milan Capital Management expresses enthusiasm, stating, "We are absolutely delighted to welcome dd's DISCOUNTS to The Plant. With its reputation for fantastic savings on apparel and home fashions, dd's DISCOUNTS will resonate with the community. By integrating this retailer, we further our vision of turning The Plant into a vibrant shopping hub." This sentiment reflects the expectation that local shoppers will embrace the new offerings, turning the store into a favored shopping venue.
Strategic Positioning for Success
Scheduled to open in June 2025, dd's DISCOUNTS will not just stand alone but will benefit from prime positioning amidst other retail giants like Target and Vallarta Supermarkets, which is slated to open in 2026. The strategic placement is forecasted to generate significant foot traffic to The Plant, enhancing its status as a key retail destination for the local community.
Real Estate Representation
In this leasing transaction, Will Bryson from Atlantic Retail represented the landlord, while Carol Therien from Retail Pacific acted on behalf of the tenant. Their expertise plays a crucial role in ensuring that such agreements align well with the interests of both parties.
About Arc Capital Partners
Founded in 2013, Arc Capital Partners is a prominent real estate investment firm focusing on middle-market opportunities. The firm shines in providing innovative capital solutions and has successfully managed transactions exceeding $10 billion. With an emphasis on high-growth Sunbelt markets, Arc Capital is committed to delivering risk-adjusted returns through various strategies, including preferred equity and direct investments.
About Milan Capital Management
Milan Capital Management has established a solid reputation as a commercial real estate investment firm, excelling in owning, developing, and managing properties within California's urban centers since the early 1980s. Their experience navigating diverse market cycles has enabled them to provide exceptional value to investors, exemplifying their enduring commitment to growth and revitalization.
For Leasing Inquiries
Should you have leasing inquiries, feel free to reach out to The Econic Company. Marisa Delgado can be contacted at 408.400.7014, while Josh Shumsky is available at 408.863.1445. For email communications, direct them to mdelgado@theeconiccompany.com or jshumsky@theeconiccompany.com.
Frequently Asked Questions
What is dd's DISCOUNTS?
dd's DISCOUNTS is a retailer known for providing a wide variety of products, including clothing and home goods, at affordable prices.
When will dd's DISCOUNTS open at The Plant Shopping Center?
The new dd's DISCOUNTS store is set to open in June 2025.
Where is The Plant Shopping Center located?
The Plant Shopping Center is located at the intersection of Curtner Avenue and Monterey Road.
What is the significance of the new lease for the community?
This lease contributes to the revitalization of The Plant Shopping Center, bringing new retail options that align with community needs and preferences.
Who represented the landlord and tenant in this lease transaction?
Will Bryson of Atlantic Retail represented the landlord, while Carol Therien of Retail Pacific represented the tenant, dd's DISCOUNTS.
