August 12, 2019— Matt Hardke and Brenton Baskin of Vantis Capital Advisors are thrilled to announce the recent completion of their project leasing assignment for a 10,614 SF freestanding restaurant adjacent to Brea Mall and 57 Freeway at 190 S State College Blvd, Brea, California. They took over the assignment from two top teams at national firms. Through proactive brokerage, providing ownership with full transparency and real-time marketing feedback, they were able to determine and implement the highest and best use that fit the owner’s investment strategy and increase the landlord’s net operating income by 141%.
Vantis Capital Advisors replaced an older restaurant concept on a short term, periodic lease with a new, chef driven restaurant concept from Toast Restaurant Group. Throughout the assignment, Vantis explored and evaluated various strategies for the ownership: A change of use, ground lease, build to suit, break up, and multiple pad development were several of the strategies considered, but ultimately it was determined that the existing use scenario with another operator was in the best interest of the ownership, and provided new tenant with the near turn-key blank canvas they were looking for. They represented the landlord, procured the new tenant, and negotiated as-is delivery with strong rent and minimal landlord concessions. Stay tuned for updates on the new concept and its upcoming grand opening! Call or email Matt Hardke for more information. (949) 942-1303 | Matt@vantiscap.com.