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5/23/16
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Stoltz Real Estate Partners has awarded Argent Retail Advisors, led by Terry Bortnick, the leasing assignment for Promenade on the Peninsula (POP), a 374.2k sf retail center in Rolling Hills Estates. Stoltz acquired the three-story, mixed-use center in 2006.
Promendade on the Peninsula is noted for its gorgeous architecture with large patios and gathering areas. It is located just off the intersection of Silver Spur Road and Hawthorne Blvd at Deep Valley Drive on the Palos Verdes Peninsula, in one of Greater Los Angeles' most sought after residential areas, known for its beautiful neighborhoods, large lots and ocean views.
Promenade on the Peninsula is the focal point in the popular, mile-long commercial area of Rolling Hills Estates along Silver Spur Road. The property’s immediate trade area of 80,943 residents boasts an average household income of $163,407.
“Multi-level retail was fine when the property was originally developed, but as the market and retailing environment have evolved, the consumer has evolved as well,” said Bortnick. “To best meet the needs of our community and our tenants, the plan is underway to convert POP to mixed-use, with retail and restaurants on the ground floor and service retail, office and medical on the top floors."
Argent was hired to bring in a new wave of restaurants, retailers and service retail tenants to transition the property from a lifestyle center to a mixed-use project. They are rebranding the project with a new theme, “Health, Beauty, Fitness, Fun and Family”. The end result will provide the community a great assortment of retail, restaurant, entertainment, fitness, educational, medical and office tenants
Anchor tenants at Promenade on the Peninsula include Regal Cinemas, Equinox Fitness, Ice Chalet, Pottery Barn. Other tenants include:
• Abercrombie & Fitch
• Ann Taylor Loft
• Chico’s
• Crabtree & Evelyn
• El Pollo Inka
• Gap
• Good Stuff Restaurant
• J. Crew
• Rubio’s Baja Grill
• Ruby’s Diner
• Starbucks
• Talbots
• Williams-Sonoma
Other desirable tenants located in adjoining properties include Bristol Farms, TJ Maxx, OSH, Pavilion’s, Petco and ULTA.
POP also benefits from being located within ten minutes of two world class facilities: Terranea, the luxury California oceanfront resort poised on 102 acres with 582 rooms, and Trump National Golf Club Los Angeles, known as the pinnacle of the luxury public golf experience with world-renowned restaurants and the spectacular panoramic Pacific Ocean views.
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