Majestic Realty Co.
Press Release
March 21, 2003
Sport Chalet Signs at Citrus Plaza in Inland Empire
CITY OF INDUSTRY, Calif. (March 21, 2003) - Majestic Realty Co. today announced
it will begin construction in May on a 42,000 sq. ft. store for Sport Chalet at Citrus Plaza, the
125-acre, master-planned shopping center it is developing in the Inland Empire. The build to suit
lease with options is valued at more than $18.2 million.
"The addition of Sport Chalet rounds out the outstanding mix of retailers at
the first phase of Citrus Plaza, ensuring its status as a premier destination in the Inland Empire,"
said John Hunter, broker for Majestic Realty.
The sporting goods store joins many of the nation's leading retailers on the
Citrus Plaza tenant roster-one that includes such nationally recognized household names as Kohls,
Target, Cost Plus Imports, Barnes & Noble, Bed Bath & Beyond, and Michaels.
Hunter, along with Tom Cozzolino and John Semcken, represented the
owner-developer in the transaction. Nelson Wheeler of the Retail Strategies Group
represented Sport Chalet.
Founded in 1959 in La Canada, Calif., Sport Chalet operates 28 full-service,
specialty sporting goods superstores in Southern California and Nevada. Sport Chalet stores
offer more than 35 services for the serious sports enthusiast, including custom golf club fitting
and repair, ski rental and repair, SCUBA training and certification, dive charters, team sales,
racquet stringing and bicycle tune-up and repair. For information, visit
www.sportchalet.com.
"From its humble beginnings as a mom-and-pop sporting goods store in the
1950s, to the outstanding retailer it is today, Sport Chalet is a Southern Califonia success
story," Hunter added. "We are very proud to welcome a business of its caliber to Citrus Plaza."
Majestic officials anticipate the new development will bring excitement to
the region.
"When it is fully open in Summer of 2004, Citrus Plaza Phase I will include
over 500,000 sq. ft. of promotionally oriented retailers selling a wide variety of merchandise
not presently offered in the trade area," Hunter said. "We expect this shopping center to
attract visitors from throughout the region, especially nearby Redlands and East Highland Ranch.
Families will enjoy dining, shopping and walking areas in an interesting and architecturally
stimulating environment."
Located at the northwest corner of the Highland (30) and San Bernardino (10)
freeways, the shopping center site is approved for 1.85 million square feet of retailers. "With
its strategic location in one of the most affluent communities in the Inland Empire, Citrus
Plaza will provide a unique sense of place and a regional focus for the area," 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 |
