Majestic Realty Co.
Press Release
February 26, 2003
Citrus Plaza Brings Premier Shopping Destination to
Inland Empire; Developer Calls March Grand Opening of Kohl's 'Just the Beginning'
CITY OF INDUSTRY, Calif. (February 26, 2003) - Majestic
Realty Co., one of the region's largest commercial and industrial real estate
developers, today announced that construction is complete on all street and
utility improvements at Citrus Plaza, a 125-acre master planned shopping center
that will become a premier destination in the Inland Empire.
Next month, Wisconsin-based Kohl's will open a specialty
department store at Citrus Plaza as part of the retailer's 2003 initial
28-store expansion into the Southern California market. Kohl's was represented
in the transaction by Anthony Mansour and Pat Gilhooly of the Clover Company
while John Hunter and John Semcken represented the center’s ownership.
A recent J.D. Power and Associates report ranked Kohl's
highest in customer satisfaction among the largest moderately priced department
stores. The retailer earned top marks in its segment for value, store environment,
merchandise, reputation, and sales and promotions.
"The grand opening of Kohl's is just the beginning," said
Hunter. "When Phase I is fully open in summer of 2004, Citrus Plaza will
include an exciting mix of promotionally-oriented national retailers that do
not currently serve the trade area. We expect this shopping center to attract
visitors from throughout the region, especially from nearby Redlands and East
Highland Ranch. Families will enjoy a new dining, shopping experience in an
elegant setting."
Anticipated to join Kohl's as anchor tenants at Citrus Plaza
will be Target; Cost Plus; Bed, Bath & Beyond; Barnes & Noble; Pier 1 Imports,
Michaels, Sports Chalet and four additional major tenants to be named in the
near future. Located at the northwest corner of the Highland (30) and San
Bernardino (10) freeways, the shopping center will encompass more than 1.35
million sq. ft. of retail space in one of the most affluent communities in the
Inland Empire," Hunter said.
Founded in 1948, Majestic Realty Co. is one of the nation's
oldest and largest privately held real estate firms, with an office, retail
and industrial portfolio totaling more than 50 million square feet. The
Southern California-based company is a diversified real estate developer
specializing in the planning and development of premier master planned
business parks.
Headquartered in City of Industry, Majestic Realty
also has offices in Atlanta, Denver, and Las Vegas. For more information, visit
www.majesticrealty.com.
Media Contact:
Fran Inman
Senior Vice President
(562) 948-4375
finman@majesticrealty.com |
