investor ownership," Yoon said.
Triangle Square, which has struggled since its 1992 opening, has
hired a new managing company, Charles Dunn Real Estate Services, and
new leasing agent, Festival Companies, which has succeeded in finding
tenants for Costa Mesa Courtyards across Harbor Boulevard.
The center also has a new law and accounting firm, Yoon said.
The plan now is to attract "destination" restaurants and build the
center around a fitness theme, he added.
"We believe the new tenant needs to be a destination client," Yoon
said. "Smaller, fast food restaurants don't seem to work. People need
to go there on purpose, not just because they have some time, but to
a place where they want to bring their families."
With longtime tenants Nike Town and General Nutrition Center --
better known as GNC -- and new tenant Nordic Track, officials hope to
cater to active customers, providing them with gear and nutritional
supplements for a variety of different sports.
The downtown center, at the major intersection of Newport
Boulevard and 19th Street at the end of the Costa Mesa Freeway, has
also completed a slight makeover, with new paint and better signs.
Former marketing coordinator Cori Abbs and former property manager
Tom Estes outlined the same course of action for the center more than
a year ago. But all that resulted in were more vacancies and more
Execution is the difference this time, Yoon said.
"We have a stronger decision-making team that can negotiate
deals," Yoon said. "Many prior proposals [brought forth by former
property managers CMG] lacked substance, and we couldn't approve
Stephanie Demartinis, the center's operation manager, plans to
work with tenants and the community to make the center succeed, she
said in a release issued to the Pilot.
The release said center officials meet with tenants once a month
to discuss events and with city officials at least twice a month.
Planning Commissioner Bill Perkins said he met with Demartinis
about two weeks ago, after months of getting nowhere. The
conversation was informative and optimistic, but the proof has yet to
be seen, he said.