In 2003 the principals of Agora purchased an unanchored 81,000 square foot retail center that was over 50% vacant. The center is located at the Northeast corner of Mason Avenue and Devonshire Street in Chatsworth California. The center was substantially renovated in 2004 and was reenacted with national tenants making up 90% of the rent roll.
Tenants added to the center included Trader Joes, Smart and Final, J.P. Morgan Bank, Subway, Little Cesar’s, Logix, Sharky’s, Baskin Robbins, Kahootz Pet Supplies, Arco Gas and other local tenants.
The center was successfully transformed into an institutional quality asset.